The Thomas Howell Ferguson Blog

COVID-19 Update and Resources

What Renters Should Know about the Emergency Rental Assistance Program

What should renters know about the Emergency Rental Assistance Program? The Consolidated Appropriations Act, 2021 passed Congress with strong bipartisan support. President Trump signed it into law on December 27, 2020.  To sum up, this relief package provides critical support to the American people and will further strengthen our economic recovery. President Trump signed the […]

Read More…

CARES Act II – Emergency Rental Assistance Program Q&A

Recently, Municode hosted a webinar on the CARES Act II – Emergency Rental Assistance Program. THF’s Steve Stevens and Government Services Group (GSG)’s Dave Jahosky had the opportunity to be panelists on this virtual discussion. There were great questions about the new CARES Act funding being provided by the IRS Treasury during the session. Continue […]

Read More…

What Governments Should Know about the CARES Act Relief Package

What should governments know about the CARES Act and the Supplemental Appropriations Act relief package? The Consolidated Appropriations Act, 2021 passed Congress with strong bipartisan support. President Trump signed it into law on December 27, 2020.  To sum up, this relief package provides critical support to the American people and will further strengthen our economic […]

Read More…

Paycheck Protection Program (PPP) Second Draw Q&A

In December, Congress passed a bill allotting $284 billion in new funding. The Paycheck Protection Program (PPP) Second Draw will provide the hardest-hit businesses a chance at a second loan. The PPP 2.0 makes other changes too, including eligibility and limits for some loan sizes. Dennis Gallant answers some commonly asked questions on the Second […]

Read More…

Key Takeaways from the Second Round of the Paycheck Protection Program (PPP)

What are the key takeaways from the second round of the Paycheck Protection Program (PPP)? The Consolidated Appropriations Act (CAA) 2021 permits certain small businesses who received a Paycheck Protection Program (PPP) loan and experienced a 25% reduction in gross receipts to take a PPP Second Draw Loan of up to $2 million. Who is […]

Read More…

FEMA Public Assistance Guidance Release

The Federal Emergency Management Agency (FEMA) has released its updated Public Assistance Guidance for COVID-19 reimbursable expenditures under the Public Assistance Program.  The guidance is meant to clarify these parameters, particularly in relation to emergency protective measures. As of September 15, FEMA may provide assistance only for the following emergency protective measures in response to […]

Read More…

Modifications to the Main Street Lending Program Expands Eligibility to Not-For-Profits

On Friday, July 24th, the Federal Reserve Board released modifications to the Main Street Lending Program that will provide greater access to credit for not-for-profit organizations.  The Board approved two new loan options to provide support to a broad set of not-for-profit organizations that were in sound financial condition prior to the pandemic.  The Board […]

Read More…

CARES Act Funding Overview Webinar

Our very own Steve Stevens had the opportunity to speak on the overview of the CARES Act Funding.  Check out the full webinar here, or you can read some of the notes from the session below. CARES Act Local Government Program Process for counties to receive CARES funding Counties accessed disbursement using the DEM Grants Management […]

Read More…

The CARES Act’s Impact on Retirement Plans

Congress passed the Coronavirus Aid, Relief, and Economic (CARES) Act on March 27, 2020.  The CARES Act includes provisions that impact retirement plans of all types.  Continue reading to learn more about the key CARES Act provisions passed. Coronavirus-Related Distribution This is a new distribution category that may be added to existing plans. Plans may […]

Read More…

FEMA Reimbursement for COVID-19 Expenses for Private Non-Profits Webinar

In case you missed the webinar today on FEMA Reimbursement for COVID-19 Expenses, we have included information below that was discussed.  In the webinar, we also spoke about the CARES Act and the Employee Retention Credit. You can access the FEMA Reimbursement for COVID-19 Expenses for Private Non-Profits presentation at the link below. FEMA Reimbursement […]

Read More…

How Does the Paycheck Protection Program Flexibility Act (PPPFA) Impact My Paycheck Protection Program (PPP) Loan?

Recently, the Paycheck Protection Program Flexibility Act (PPPFA), was signed into law.  This gives borrowers additional time and flexibility to use Paycheck Protection Program (PPP) loan proceeds. The PPPFA is intended to serve as an additional boost for small businesses trying to muscle through this pandemic-induced economic crisis. Continue reading to see how your business […]

Read More…

What Costs May Be Reimbursable By FEMA for COVID-19?

What Costs May Be Reimbursable By FEMA for COVID-19? All major disasters can lead to some form of political, social, and economic consequence. Normally these events are confined to a region of the country and regions within the respective states impacted. COVID-19 is not normal and has impacted all sectors of the economy including governments […]

Read More…

CARES Act Relief for Not-For-Profit Organizations – Employee Retention Credit

If your organization was not able to receive money through the Paycheck Protection Program, you may be able to claim an Employee Retention Tax Credit! The CARES Act supports certain employers that operate a business during 2020 and retain their employees with an employee retention tax credit, despite experiencing economic hardship related to COVID-19. Like other eligible employers, […]

Read More…

What Costs Are Eligible for Loan Forgiveness Through the Payroll Protection Program (PPP)?

Borrowers can be eligible for loan forgiveness for eligible payroll costs and eligible nonpayroll costs through the Payroll Protection Program (PPP). Borrowers are generally eligible for forgiveness for the payroll costs paid and payroll costs incurred during the eight week (56-day) covered period.  Payroll costs are considered paid on the day that paychecks are distributed, […]

Read More…

Paycheck Protection Program (PPP) – Payroll Costs Q&A

Additional answers have been posted by the SBA pertaining to the Payroll Protection Program (PPP) payroll costs.  Here is a sample of questions and answers that have been posted. Do PPP loans cover paid sick leave under payroll costs? What period of time should borrowers use to determine their number of employees and payroll costs […]

Read More…

Senator Marco Rubio Discusses PPP Loan Forgiveness with CPAs

Today, United States Senator Marco Rubio (R-FL) held a town hall on the Paycheck Protection Program (PPP) loan forgiveness process. The town hall was held with the Florida Institute of Certified Public Accounts’ (FICPA) leadership and board.  During the town hall, the Senator discussed specific federal responses to the ongoing COVID-19 pandemic. The topic included details […]

Read More…