Resources
DIRECT LINKS TO OFFICIAL AGENCIES
• Stimulus Check Status - View Status, Payment Type, or Update Bank Account Information
• Congress.gov - List of Legislations created in response to Coronavirus
- Federal Coronavirus Landing Page
• Michigan.gov - State of Michigan
Coronavirus Landing Page
-Sales Tax & Withholding Portal
• UIA Home - State of Michigan Unemployment Agency
Loan Programs
U.S. TREASURY, SBA HOMEPAGE, AND MORE.
• U.S. Treasury - Official PPP Loan Forgiveness Application: Downloadable/Printable PDF for EZ-Application & Full Application
• Disaster Assistance - U.S. SBA
(Disaster Assistance Landing Page)
• SBDC - Small Business Development Center (Provides information & Webinars RE: SBA Loans)
Additional Info
• U.S. Department of Education
- Coronavirus and Forebearance Info
Federal student loan garnishments issued by the Federal government are suspended until September 30, 2020.
This does not apply to private student loan garnishments or any other garnishment.
Doors Open, But No Face-to-Face Appointments
LAST UPDATED: DECEMBER 02, 2020 04: 27 PM
Our doors are open and we are available for pick-ups or drop-offs. Although we want to remain cautious at this time, we are only recommending that a mask is worn to enter, but it is NOT a requirement. Hand sanitizer and disposable masks will be available up front for use. Please be mindful and only take or use items as needed, as we have a limited supply.
Tax Appointments: We are still NOT scheduling face-to-face appointments at this time. Telephone or video conferences are available upon request, but we are strongly urging clients to drop-off their tax information. Please include the best contact number to allow your accountant to reach out if there are any additional questions or items needed to complete your return. One of our staff members will communicate with you once your return is available for pick-up. Provide your full name, last and then first, upon pick-up.
Thank you for understanding and bearing with us as we continue to adhere and implement practices that ensure our office is a safe space for both our clients and employees. We truly appreciate your patience with us in the midst of this pandemic.
Sincerely, All of Us at Tri-County Bookkeepers
Families First Coronavirus Response Act (FFCRA)
LAST UPDATED: DECEMBER 02, 2020 04: 27 PM
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s (Department) Wage and Hour Division (WHD) administers and enforces the new law’s paid leave requirements. These provisions will apply from March 18, 2020 through December 31, 2020.
Employees are eligible for:
- SELF CARE · Two weeks (up to 80 hours) of paid sick leave at the employee’s regular rate of pay where the employee is unable to work because the employee is quarantined (pursuant to Federal, State, or local government order or advice of a health care provider), and/or experiencing COVID-19 symptoms and seeking a medical diagnosis; or
- OTHER · Two weeks (up to 80 hours) of paid sick leave at two-thirds the employee’s regular rate of pay because the employee is unable to work because of a bona fide need to care for an individual subject to quarantine (pursuant to Federal, State, or local government order or advice of a health care provider), or to care for a child (under 18 years of age) whose school or child care provider is closed or unavailable for reasons related to COVID-19, and/or the employee is experiencing a substantially similar condition as specified by the Secretary of Health and Human Services, in consultation with the Secretaries of the Treasury and Labor; and
- EXTENDED CHILD CARE · Up to an additional 10 weeks of paid expanded family and medical leave at two-thirds the employee’s regular rate of pay where an employee, who has been employed for at least 30 calendar days, is unable to work due to a bona fide need for leave to care for a child whose school or child care provider is closed or unavailable for reasons related to COVID-19.
Qualifying Reasons for Leave:
- Employee is subject to a Federal, State, or local quarantine or isolation order related to COVID-19;
- Employee has been advised by a health care provider to self-quarantine related to COVID-19;
- Employee is experiencing COVID-19 symptoms and is seeking a medical diagnosis;
- Employee is caring for an individual subject to an order described in (1) or self-quarantine as described in (2);
- Employee is caring for a child whose school or place of care is closed (or child care provider is unavailable) for reasons related to COVID-19; or
- Employee is experiencing any other substantially-similar condition specified by the Secretary of Health and Human Services, in consultation with the Secretaries of Labor and Treasury.
Under the FFCRA, an employee qualifies for expanded family leave if the employee is caring for a child whose school or place of care is closed (or child care provider is unavailable) for reasons related to COVID-19.
READ MORE about the FFCRA guidelines on duration of leave and calculation of pay for COVID-19 sick leave directly from the Department of Labor's website.
COVID-19 Sick Leave · Employee Request Template: Click here to download a Word document
PPP Loan: Forgiveness Application
LAST UPDATED: SEPTEMBER 28, 2020 12: 04 PM
The PPP Flexibility Act of 2020 was signed by The President of the United States on June 5, 2020. As mentioned previously, the original forgiveness application that was made available near the end of May has been completely revised into a more borrower-friendly application.
Highlighted Revisions Include:
- Application Deadline Changed: From June 30, 2020 to December 31, 2020
- Covered Period: Extended from 8 weeks to 24 weeks (from initial disbursement of the loan)
- Total Payroll Cost Requirement Reduced: From 75% to 60%
- Safe Harbor Period Deadline: Extended from June 30, 2020 to December 31, 2020
- Payment Deferral: Extended from 6 weeks of initial loan disbursement to the "date on which the amount of forgiveness determined under Section 1106 of the CARES Act is remitted by the lender".
- Loan Maturity: Extended to a minimum of 5 years for PPP loans disbursed on or after the date of the enactment of the PPP Flexibility Act. For PPP loans disbursed PRIOR to its enactment: Borrowers and lenders are permitted to mutually agree on modifying existing maturity terms to conform with the new 5 years maturity that is available for any remaining balances leftover after their forgiveness determination.
To retrieve a copy of the NEW Forgiveness Application, please visit:
• https://home.treasury.gov/news/press-releases/sm1036
Please note that it is unclear whether this is the FINAL revision to the PPP Loan Forgiveness Application or if the application may be revised closer to the end of the year. We ask that you continue to have patience with us as we learn more about the forgiveness process through new or upcoming legislations and direct updates from the Small Business Administration or the United States Treasury.
NOTE: We will NOT be completing Forgiveness Applications for clients OR on their behalf. We are solely providing the required documentation requested from clients that are completing their Forgiveness Application.
IF YOU DID NOT APPLY FOR THE PAYROLL PROTECTION PROGRAM OR RECEIVE A PPP LOAN, YOU MAY BE ELIGIBLE FOR THE 'EMPLOYEE RETENTION CREDIT'.
The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages that an eligible employer pays to employees between March 12, 2020 through December 31, 2020. Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make. Also, if the employer's employment tax deposits are not sufficient to cover the credit, the employer may get an advance payment from the IRS.
Employers, including tax-exempt organizations, are eligible for the credit if they operate a trade or business during calendar year 2020 and experience either:
- the full or partial suspension of the operation of their trade or business during any calendar quarter because of governmental orders limiting commerce, travel, or group meetings due to COVID-19, or
- a significant decline in gross receipts.
A significant decline in gross receipts begins:
- on the first day of the first calendar quarter of 2020
- for which an employer’s gross receipts are less than 50% of its gross receipts for the same calendar quarter in 2019
The significant decline in gross receipts ends:
- on the first day of the first calendar quarter following the calendar quarter
- in which gross receipts are more than of 80% of its gross receipts for the same calendar quarter in 2019
The credit applies to qualified wages (including certain health plan expenses) paid during this period or any calendar quarter in which operations were suspended.
For Full Details, please visit:
• https://www.irs.gov/coronavirus/employee-retention-credit
• https://covidhelp.thomsonreuters.com/erc/index.html#start (Eligibility Tool)
Unemployment Information
Contemplating Potential Layoffs?
If your business is being affected by the Coronavirus (COVID-19) pandemic, we urge you to follow the link below. The Department of Labor and Economic Opportunity has provided a guide for Michigan employers on how to avoid potential layoffs related to COVID-19.
Click Here: State Provided Guidance
• UIA Home - State of Michigan Unemployment Agency
• MiWAM - UIA Portal for Employers
Work Share Program:
Information for EMPLOYERS - Fact Sheet #156 (PDF)
Information for EMPLOYEES - Fact Sheet #160 (PDF)
Notice to Employers & Seeking Work Waivers:
Please visit MiWAM to read the notice to employers who are temporarily laying off workers. The Agency provides a link with information about the time-frame for requesting the waiver, as well as the instructions on how to request the waiver.