COVID-19 Business Strategy Hub
In these unprecedented times, Moore Colson is here to help with actionable, practical advice for you and your business. This page will be updated regularly with insights to help minimize the impact of this crisis and better position your business for a quick rebound in the coming months. You can always reach us by calling us at 770-989-0028 or clicking here to contact us.
Learn how we can help guide you through this crisis, minimize its impact and position your business for a faster recovery with our COVID-19 Business Services.
IRS Issues Guidance on Retroactive Termination of Employee Retention Credit: What Businesses Need to Know
Congress signed the Infrastructure Investment and Jobs Act (IIJA) into law on November 15, 2021, which included a retroactive termination of the Employee Retention Credit (ERC) as of September 30, 2021 (except for recovery startup businesses). The ERC had previously...
SBA Increases EIDL Loan Cap from $500,000 to $2 Million
Disclaimer: This information was correct at the time of publication; however, new guidance from government agencies may be issued at any time, causing some or all of this information to change. Please visit our COVID-19 Business Strategy Hub for the latest news and...
IRS Establishes Safe Harbor Option for Businesses Seeking the Employee Retention Tax Credit
On Tuesday, August 10, 2021, the Internal Revenue Service (IRS) released guidance through Rev. Proc. 2021-33 stating that businesses applying for an employee retention tax credit (ERTC) will now have a safe harbor option, which will allow them to exclude certain items...
SBA Plans Audits for Some PPP Loans: What Businesses Need to Know
Businesses that have received loans under the Paycheck Protection Program (PPP) should be aware of the possibility that they’ll be audited by the U.S. Small Business Administration’s (SBA) Office of Inspector General, with support from the IRS and other federal...
Alert: SBA Eliminates Previously Required PPP Loan Necessity Questionnaire
The U.S. Small Business Administration (SBA) announced on July 9, 2021, that it would no longer require the Paycheck Protection Program (PPP) Loan Necessity Questionnaire, or SBA Forms 3509 (for-profit) and 3510 (non-profit), for PPP loans in excess of $2 million....
Alert: PPP Loan Forgiveness Deadline is Approaching for Many Small Businesses
For small business owners that received Paycheck Protection Program (PPP) loans in 2020, the period to apply for forgiveness is almost over. For those PPP borrowers that do not apply for forgiveness, the PPP loan will automatically turn into a standard loan with a 1%...
A Shift to the Remote Workplace: Exploring Tax Challenges for Georgia Businesses
The COVID-19 pandemic created significant financial, operational and management challenges for Georgia businesses. Navigating the sudden stay-at-home orders, forced business closures and other mandates may have required a shift to a remote workplace. Now that...
Alert: Application Period for the Restaurant Revitalization Fund Ends Monday, May 24, 2021
On May 18, 2021, the Small Business Administration (SBA) announced that the application portal for the Restaurant Revitalization Fund (RRF) will close on Monday, May 24, 2021, at 8 p.m. eastern time. As detailed in our previous blog post, the RRF is a $28.6...
Alert: PPP Funding Exhausted for Most Lenders
Disclaimer: This information was correct at the time of publication; however, new guidance from government agencies may be issued at any time, causing some or all of this information to change. Please visit our COVID-19 Business Strategy Hub for the latest news and...
Biden Offers Tax Incentive for COVID-19 Vaccination Time Off – What Employers Need to Know
Disclaimer: This information was correct at the time of publication; however, new guidance from government agencies may be issued at any time, causing some or all of this information to change. Please visit our COVID-19 Business Strategy Hub for the latest news and...
The Restaurant Revitalization Fund – SBA Sets Opening Dates and Provides Guidance on Application Process
Disclaimer: This information was correct at the time of publication; however, new guidance from government agencies may be issued at any time, causing some or all of this information to change. Please visit our COVID-19 Business Strategy Hub for the latest news and...
Alert: President Biden Signs PPP Extension Act of 2021 Into Law
President Biden has signed the PPP Extension Act of 2021. The new law extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021, to May 31, 2021, thus providing potential PPP borrowers additional time to submit their applications....
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