As we approach the new year, it's crucial to stay informed about the latest developments…
Today the mad rush of application for the PPP program began. Somebody posted online that it reminded them of the scene in the movie, “It’s a Wonderful Life”, where everyone was making a run on the local bank because they thought the money would run out. I am showing my age here with that reference; however, our opinion is that you have time to get this in.
Please don’t wait a month to get this done, but it doesn’t have to be done today, in our opinion.
Delta will be having a webinar about the Families First Act on Thursday April 9th at 2 PM CST. In this webinar we will review the laws and the rules around them, go through how to request the sick leave or the eFMLA leave, as well as how to properly enter time so your company will get the proper tax credits through this program. We should have time to cover some other items like safety protocols for return to work, etc. as well.
I will include the link to this webinar on our emails and website next week for you to sign up.
Our Association, NAPEO, has been working fast and furious over the past couple of weeks to make sure that the SBA rules include references to PEO clients, so that when our clients have to show “payroll records”, the 941s or 940s are not mandatory.
We are very happy to announce that in the rules released yesterday (downloads below), it specifically mentions your PEO can provide you with certifiable payroll documentation. We are including a letter from the president of NAPEO so you can provide proof to your banker that what we are providing is acceptable.
- DOL Guidelines for masks – the Department of Labor has issued new guidelines effective today April 3rd, 2020, for masks and the lack of availability. Please read these guidelines, as they allow companies to operate with best faith attempt to procure the proper masks. If you have any specific questions, please email firstname.lastname@example.org.
- NAPEO Payroll documentation letter – this is the letter mentioned above from the NAPEO President about payroll documentation.
- PPP IFRN – this is the latest information from the SBA. One major change is that you can no longer add any 1099 contractors to your payroll estimate for the PPP loan. The thought behind this is that any contractor will be able to apply on their own.
Thanks for the positive feedback Delta has received for these updates, much appreciated!