SAX COVID-19 Resource Center

Sax's COVID-19 Resource Center

On your road to recovery, lean on

for up-to-date information relevant
to your state and business.

COVID-19 Resource Center: Individual & Business Resources

Stay Informed!: Important COVID-19 Updates for States and Businesses

See the most recent coronavirus updates here relevant to individuals and businesses in New Jersey, New York State and New York City.

Individual and Business Resources

IRS

December 7, 2021

IRS ISSUES ADDITIONAL GUIDANCE SURROUNDING THE TERMINATION OF THE EMPLOYEE RETENTION CREDIT

Paycheck Protection Program

November 22, 2021

IRS ISSUES GUIDANCE SURROUNDING TAX TREATMENT OF PPP LOAN FORGIVENESS

tax planner using calculator

November 9, 2021

INFRASTRUCTURE ACT HALTS Q4 2021 EMPLOYEE RETENTION CREDIT FOR MANY EMPLOYERS

Healthcare

October 5, 2021

HHS ANNOUNCES NEW RELIEF FUNDS AND 60-DAY GRACE PERIOD FOR PRF REPORTING PERIOD 1

EIDL PROGRAM IS ENHANCED BY SBA

September 13, 2021

EIDL PROGRAM IS ENHANCED BY SBA

Tax Relief

IRS PROVIDES Q3 2021 & Q4 2021 EMPLOYEE RETENTION CREDIT GUIDANCE

Paycheck Protection Program

SBA TO OPEN STREAMLINED PPP LOAN FORGIVENESS PORTAL ON AUGUST 4

Small Business

NJ SMALL BUSINESS EMERGENCY ASSISTANCE LOAN PROGRAM (PHASE 2) UPDATE

Healthcare

Updated Reporting Requirements for Provider Relief Funds

Tax Credit

APPLICATIONS NOW OPEN FOR TAX CREDITS THROUGH NJ EMERGE PROGRAM

Financial Relief

ADDITIONAL RELIEF ANNOUNCED FOR NEW JERSEY SMALL BUSINESSES & INDIVIDUALS

Paycheck Protection Program Loan

SBA CEASES ACCEPTANCE OF MOST NEW PPP APPLICATIONS

restaurant

Restaurant Revitalization Fund (RRF) Must Know Topics

Small Businesses

NJEDA ANNOUNCES LAUNCH DATES FOR $85 MILLION PHASE 4 OF THE SMALL BUSINESS EMERGENCY ASSISTANCE GRANT PROGRAM

IRS

IRS Provides Additional Employee Retention Credit Guidance

Restaurants

Restaurant Revitalization Fund Update

Restaurants Revitalization Fund

Restaurant Revitalization Fund Update: Preparing for the Grant Application

PPP deadline extended

Paycheck Protection Program Deadline Extended

Restaurants

SBA Targets Early April Opening of Restaurant Revitalization Fund Application Process

SBA Loan

SBA TO INCREASE ECONOMIC INJURY DISASTER LOAN LIMITS

ARPA Program

SBA ISSUES ITS LATEST INTERIM FINAL RULE SURROUNDING THE IMPACT OF THE AMERICAN RESCUE PLAN ACT ON THE PAYCHECK PROTECTION PROGRAM

Restaurants Revitalization Fund

RESTAURANT REVITALIZATION FUND UPDATE: ELIGIBLE BUSINESS OWNERS NEED TO PREPARE TO APPLY RIGHT AWAY

restaurant interior

Restaurant Revitalization Fund Established Through ARPA

ARPA Introduced

Tax Alert: President Biden Signs American Rescue Plan Act of 2021

Post-Election Update: Planning and Market Trends

Watch the March CFO Focus: Post-Election Update: Planning and Market Trends

IRS

IRS Releases New Guidance Surrounding Interaction between Paycheck Protection Program and Employee Retention Credit

Healthcare

February 24, 2021

Don’t Risk Loan Forgiveness with Sax’s PPP & PRF Advisory Services for the Healthcare Industry

PPP Small Business

February 24, 2021

BIDEN-HARRIS ADMINISTRATION ANNOUNCES CHANGES TO THE PPP GEARED TOWARDS SMALLER BUSINESSES

Real Estate

February 23, 2021

Property Owners: Are you Entitled to a Reduction in Your Taxes?

hand holding pen to a form

February 19, 2021

Feb. 22 Application Opening: Phase 2 of the NJRA’s Small Business Lease Emergency Assistance Grant Program

maximizing Tax Deferral Opportunities Through Employer Retirement Offerings

February 18, 2021

WATCH THE WEBINAR: MAXIMIZING TAX DEFERRAL OPPORTUNITIES THROUGH EMPLOYER RETIREMENT OFFERINGS

PPP Application

February 12, 2021

STATE INCOME TAX TREATMENT OF PAYCHECK PROTECTION PROGRAM LOAN FORGIVENESS AND EXPENSE DEDUCTIONS

Payroll

February 11, 2021

DON’T LEAVE MONEY ON THE TABLE! Employee Retention Credit Now Available to PPP Loan Recipients

PPP For the Food Service Industry

February 11, 2021

Food Service Industry Gets Extra Funding Under Second Draw of Paycheck Protection Program

Loan Application

February 10, 2021

NJEDA Defers Pre-Registration Date for Phase 2 of the Small Business Emergency Assistance Loan Program

Paycheck Protection Program

February 2, 2021

Gross Receipt Considerations for a Not-for-Profit’s Second Round of PPP

Small Businesses

January 28, 2021

NJEDA Announces Opening Date for the Small Business Emergency Assistance Loan Program

Qualified Opportunity Fund

January 25, 2021

IRS Extends Additional Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Pandemic

healthcare

January 21, 2021

REPORTING REQUIREMENTS FOR HHS PROVIDER RELIEF FUND

Paycheck Protection Program Borrower Application Form

January 20, 2021

SBA RELEASES REVISED PPP LOAN FORGIVENESS APPLICATION FOR BORROWERS WITH LOANS OF $150,000 OR LESS

Paycheck Protection Program

January 20, 2021

SBA and Treasury Issue Guidance for First Draw and Second Draw PPP Borrowers

PPP Applications

January 11, 2021

SBA AND DEPARTMENT OF TREASURY ISSUE TWO NEW INTERIM FINAL RULES ON THE PAYCHECK PROTECTION PROGRAM

Paycheck Protection Program Borrower Application Form

January 8, 2021

SBA AND TREASURY DEPARTMENT ANNOUNCE RE-OPENING OF THE PPP

Loans

January 5, 2021

SBA Extends EIDL Program to December 31, 2021

Senate

December 23, 2020

The Current Status of the New Stimulus Package – The Consolidated Appropriations Act, 2021

Stimulus

December 22, 2020

CONGRESS APPROVES $900 BILLION STIMULUS PACKAGE WITH NEW PPP LOAN & EIDL PROVISIONS

Year-End Planning

December 3, 2020

Advantageous Tips for 2020 Year-End Planning

IRS

December 2, 2020

IRS Provides Additional Guidance on Business Interest Limitation Rules in the Form of New Proposed Financial Regulations

IRS

November 19, 2020

IRS Issues Guidance on Timing of Tax Deductions for PPP Expenses

Grants

November 18, 2020

PASSAIC COUNTY LAUNCHES SMALL BUSINESS LEASE EMERGENCY ASSISTANCE GRANT PROGRAM

IRS

November 12, 2020

The Treasury and IRS Issues Proposed Regulations for Businesses to Deduct State and Local Income Taxes

COVID-19 Relief

November 12, 2020

Governor Murphy Announces Additional $60M in COVID-19 Relief for Businesses

New SBA Guidance

November 2, 2020

SBA IS SEEKING COMMENTS ON PROPOSED COLLECTION OF INFORMATION FOR PPP BORROWERS WITH LOANS OVER $2 MILLION

New SBA Guidance

October 30, 2020

SBA ISSUES LOAN NECESSITY QUESTIONNAIRES FOR PPP BORROWERS WITH LOANS OVER $2 MILLION

Healthcare

October 26, 2020

Overview of Phase 3 of the Provider Relief Fund for Healthcare Providers

PPP Loan

October 23, 2020

SBA Issues Procedural Guidance for Paycheck Protection Program Borrowers Considering a Change in Control

Relief

October 15, 2020

Governor Murphy unveils $100M in COVID-19 Relief for Businesses

Hourglass

October 9, 2020

Bergen County’s Small Business Grant Program Deadline Extended to October 30

Loan Forgiveness

October 9, 2020

SBA Issues New Forgiveness Guidance for PPP Loans of $50,000 or Less

IRS

August 31, 2020

Guidance Released on Social Security Withholding Deferral

Loan Forgiveness

August 31, 2020

PPP Loan Forgiveness Application Timing: To Forgive or Not to Forgive, Is That The Question?

PPP

August 28, 2020

Presenting the Paycheck Protection Program Loan in Your Year-End Financials

New SBA Guidance

August 25, 2020

SBA ISSUES GUIDANCE ON PPP LOAN FORGIVENESS CALCULATIONS

Healthcare

August 25, 2020

August 28 Deadline for Phase 2 Funding Under CARES Act’s Provider Relief Fund

Healthcare

August 20, 2020

HHS Provides Details on Reporting Requirements for the Provider Relief Fund

New SBA Guidance

August 19, 2020

Small Business Administration Offers Reduced Interest Rates For Its 504 Loan Program

President Executive Order

August 10, 2020

Unable to Strike Deal, President Trump Issues Executive Orders for Economic Assistance

PPP

SMALL BUSINESS ADMINISTRATION ISSUES FREQUENTLY ASKED QUESTIONS ON PPP LOAN FORGIVENESS

Federal Reserve

The Federal Reserve Will Extend Its Lending Programs Through December 31, 2020

Senate

Senate Unveils $1 Trillion “HEALS Act” Coronavirus Relief Package

Emergency Assistance Grant Program

Applications Open August 10 for the NJRA Small Business Lease – Emergency Assistance Grant Program

IRS

IRS Provides Additional Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Pandemic

Healthcare

Dentists Have Until July 24 to Apply for the Provider Relief Fund

PPP

Paycheck Protection Program (PPP) Gets a 5-week Application Extension

New SBA Guidance

PPP Loan Forgiveness Update: SBA Issues New Interim Final Rule to Provide Additional Guidance Surrounding Loan Forgiveness

Sax Focus on Recovery

Sax’s FOCUS on Recovery Newsletter

New SBA Guidance

The SBA Releases Revised Loan Forgiveness Application Form and Supporting Guidance

Main Street Landing Program

Main Street Lending Program is Now Live

EIDL Update

EIDL Update: SBA Now Accepting New Applications

New Jersey Economic Development Authority

Expanded NJEDA Small Business Emergency Assistance Grant Program Application Window is Now Open

PPP Flexibility Act

PPP Loan Forgiveness Update: Passage of PPP Flexibility Act Provides Borrower Options

New SBA Guidance

New PPP Update: SBA Releases Interim Final Rule on Loan Review Procedures & Borrower and Lender Responsibilities

New SBA Guidance

New PPP Update: SBA Releases Guidance on Loan Forgiveness Application Interpretations

PPP

PPP Certification Requirements Update: Deadline to Return Funds Extended to May 18, 2020

PPP

PPP UPDATE: NEW FAQ RELEASED ON REVIEW OF PPP CERTIFICATION

Heroes Act

House of Representatives Unveils The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act

Cybersecurity Tips

CYBERSECURITY TIPS FOR A REMOTE WORKFORCE

PPP

PPP Certification Requirements Update: Deadline to Return Funds Extended to May 14, 2020

Federal Reserve

Main Street Lending Program: Federal Reserve Updates Terms, Increasing Funding Availability and Borrower Eligibility

PPP

PPP Update: IRS Provides Guidance Regarding the Tax Deductibility of Expenses Paid with PPP Funds

PPP Update

PPP Update: Treasury Secretary Says All PPP Loans Over $2M Will Have Full Review Prior to Loan Forgiveness

Business Loans

Documentation Business Owners Should Gather to Establish Loss Due to COVID-19

Additional PPP Certification Requirements

Additional PPP Certification Requirements

Funding Alert

Alert: More Funding Added Under “CARES 2” for Businesses Impacted by COVID-19

Transfer of Wealth and Valuation

Greater Transfer of Wealth and Alternative Valuation Dates

Federal Reserve

Federal Reserve Takes Historic $2.3 Trillion Action to Stimulate Economy

Applying for the $10,000 Emergency Economic Injury Grant

FAQ & ANSWERS: APPLYING FOR THE $10,000 EMERGENCY ECONOMIC INJURY GRANT

Business Interruption Insurance Claims

BUSINESS INTERRUPTION CLAIMS FOR ORGANIZATIONS IMPACTED BY COVID-19

CARES Act Paycheck Protection Program

Additional Guidance Provided for the Paycheck Protection Program

CARES Act

New Loan Incentive Programs Available to Businesses Through the CARES Act

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