More News and More to Come
SBA Issues Guidance and Resources to Address Small Business Needs During Pandemic
Wednesday, March 18, 2020
The SBA announced guidance and resources to assist small businesses during the COVID-19 pandemic. The SBA encourages businesses and employers to explore the Economic Disaster Loan Program, guidance for businesses and employers, SBA products and resources, government contracting, and local assistance.
Plan to Implement COVID-19 Recovery Announced by Treasury, Labor, and IRS
Friday, March 20, 2020
WASHINGTON – Today the U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act), signed by President Trump on March 18, 2020. The Act will help the United States combat and defeat COVID-19 by giving all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members. The legislation will enable employers to keep their workers on their payrolls, while at the same time ensuring that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus.