4 reasons churches shouldn’t rush their PPP forgiveness applications

Churches who received Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act will soon be asking if and how they will qualify for PPP loan forgiveness. There is uncertainty over some of the program details. While you may be anxious to apply for forgiveness, here are five factors affecting the…

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What do we do if an church employee is diagnosed with COVID-19?

First, notify other employees of potential exposure, if any, in the church and congregation. You should tell them that someone was diagnosed with the illness, but you should not identify which employee is sick, even if employees ask so they can gauge their own risk. Medical information, such as a diagnosis, must be kept confidential….

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The New PPP EZ Application

I think it’s important to first determine if you qualify for the EZ PPP Loan Application before getting bogged down in some of the other provisions and rules. The whole goal of the EZ App is to require less documentation, fewer calculations, and simplifies the process dramatically for a large number of business owners. EZ…

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Reopening Church – Michael Osterholm Explains How To Assess COVID Risk

Michael Osterholm is the founder and director of the Center for Infectious Disease Research and Policy at the University of Minnesota. His 2017 book, Deadliest Enemy: Our War Against Killer Germs, was recently republished with a new foreword about COVID-19. Mark Olshaker is a co-author. Podcast & Interview Link Interview highlights On anticipating a second, worse wave of…

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New PPP Forgiveness Rules

Extend the “covered period” under which small businesses can spend the loan proceeds from eight weeks to 24 weeks, or until Dec. 31. Remove the limits on loan forgiveness for small businesses that were unable to rehire employees, hire new employees or return to the same level of business activity as before the virus. Expand…

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Senate approves House-passed Paycheck Protection Program reform bill

The Senate on Wednesday evening passed by voice vote a House-passed Paycheck Protection Program reform bill, clearing it for President Donald Trump’s signature. Earlier in the afternoon, GOP Sen. Ron Johnson of Wisconsin objected to a prior effort to pass the bill via unanimous consent, blocking approval. But Johnson agreed to let the bill pass…

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What’s next for PPP?

When the House convenes next Wednesday, it is expected to vote on the Paycheck Protection Program Flexibility Act, a standalone bill that would, among other things, lengthen the time churches may spend the funds from their PPP loans. The bill would also eliminate the requirement that 75 percent of a loan’s proceeds must be spent on…

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IRS Sending Out New Coronavirus Stimulus Debit Cards

If you are still expecting to receive stimulus payments from the IRS in the form of a paper check, there may be a surprise coming in their mailbox soon.  The U.S. Treasury Department has announced that the IRS will begin sending out stimulus payments on prepaid debit cards instead of mailing paper checks. With these…

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