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Archive for the ‘COVID-19’ Category

Friday 03/12/2021

Latest Stimulus Bill: What’s in it and What it Means for You

President Biden signed the American Rescue Plan into law Thursday, March 11, 2021. The $1.9 trillion economic stimulus plan contains a number of pieces of legislation aimed at supporting individuals through the continued Coronavirus pandemic. Direct Payments Stimulus checks are a big part of this latest bill. Individuals who earn less than $75,000 and married […]

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Tuesday 02/23/2021

Second-Draw PPP Loans Affiliation Rules

As businesses move forward in applying for a second-draw Paycheck Protection Program loan, or PPP2, it is important to remember the maximum loan size is capped at $2 million for businesses, as well as their affiliates. That means the total amount a business and its affiliates can apply for is capped at $2 million. Businesses […]

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Wednesday 02/10/2021

Small Businesses Should Be on Alert for Loan Application Scams

The U.S. Small Business Administration (SBA) has seen an influx of fraud surrounding applications for federal aid. The most common fraud occurring is email phishing where a scammer impersonates the SBA via email with the goal of collecting personally identifiable information (PII). Those who have applied for the SBA’s Economic Injury Disaster Loan Program seem […]

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Thursday 02/04/2021

Heightened Identity Theft Involving Unemployment Benefits

There has been a marked increase of fraud cases surrounding unemployment benefits, particularly in the state of Ohio. This amounted to at least $330 million in fraudulent pandemic unemployment benefits distributed between April and December 2020. To combat this very serious issue, the state of Ohio launched a new resource portal (https://unemploymenthelp.ohio.gov/) for employers to […]

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Friday 01/08/2021

Important Tax Credit Updates Under Latest COVID-19 Relief Bill

Employee Retention Tax Credit Back in March of 2020, The CARES Act granted eligible employers a credit, the Employee Retention Tax Credit (ERTC), against employment taxes equal to 50 percent of qualified wages paid to employees who are not working due to the employer’s full or partial suspension of business or a significant decline in […]

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