The Internal Revenue Service (IRS) has placed a moratorium on new Employee Retention Tax Credit applications through the end of the year. The halt to this program comes amid a surge in fraudulent claims and aggressive marketing practices to ineligible applicants. The agency is expected to put in place more safeguards for small business owners to protect them from unscrupulous entities. As part of the CARES Act, the ERC offers tax credits to encourage more businesses to retain employees during the pandemic, as a temporary measure. Learn more about the tax credit and its eligibility requirements. 

The U.S. Small Business Administration (SBA) is providing additional measures to accommodate COVID Economic Injury Disaster Loan (EIDL) borrowers who are experiencing short-term financial difficulties. The program, known as the Hardship Accommodation Plan, allows eligible borrowers to make reduced loan payments for six months.

The U.S. Small Business Administration (SBA) recently announced an additional deferment period of principal and interest payments for existing COVID-19 Economic Injury Disaster Loans (EIDL). Borrowers have a total of 30 months of deferment period from loan origination on all COVID EIDL loans. This is a change from the previous deferral period of 24 months. Below you will find some additional information about the new deferment period on EIDL loans.

Microbusinesses in select counties in California may now apply for small grants from the California Microbusiness COVID-19 Relief Grant Program. The program, which is funded by the State of California and administered by the office of the Small Business Advocate (CalOSBA), provides competitive micro grants of $2,500 to eligible microbusinesses impacted by the COVID-19 pandemic and the related health and safety restrictions put in place.

The American Rescue Plan provides assistance in the form of tax credits to small employers who provide paid time off to employees for situations related to COVID-19 vaccination or illness. Small business owners may claim these credits on their quarterly taxes, but the deadline to file is just around the corner.

Now that the Paycheck Protection Program’s (PPP) loan forgiveness is underway, the U.S. Small Business Administration is making changes to its forgiveness process to help streamline the review of revenue reduction documentation. While small businesses await further guidance from the agency, here are some key things to keep in mind as you navigate the PPP loan forgiveness process.

Consumer spending habits have changed drastically during the COVID-19 pandemic, and a new reliance on online shopping is prompting small businesses to rethink their marketing strategies. We’ve compiled a few ways for small business owners to effectively utilize digital marketing to engage with their audience in this new post-pandemic landscape.

With COVID-19 restrictions easing around the country, small businesses are reopening their doors to the public and preparing for a busy season. Many business owners are looking for information about how to reopen safely to reduce the likelihood of COVID-19 transmission in the workplace, and preparation is key for a smooth transition. Here are four ways you can help educate your employees as they return to the workplace.

We know many small business owners may have questions about what this means for their business’s own requirements, and what they need to do to keep their customers and employees safe. We’ve put together a preliminary list of reminders for businesses to take into account when considering your business strategy given the changes in COVID-19 guidance.