Employee Retention Tax Credit

As you probably know, in March 2020, Congress passed the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), which included an employee retention tax credit (the “ERTC”). Then, in December 2020, that ERTC was extended into the first two quarters of 2021 by the Consolidated Appropriations Act (the “CAA”). Now, American Rescue Plan Act (the “ARPA”), in turn,

By |2021-04-02T10:53:57-07:00March 31st, 2021|

Requiring Employee Vaccinations

Can I (as the employer) require my employees to be vaccinated against COVID-19?

Good question. We’re already vaccinating significant portions of the population. As we continue to march towards having COVID-19 vaccines made available to all of the general public, employers must decide whether to (1) require their employees to have a vaccination; (2) incentivize employees to get vaccinated; or (3)

By |2021-04-02T10:53:56-07:00March 31st, 2021|

Update on the ERC through the CAA

If you are wondering about the expanded Employee Retention Credit (ERC) that was recently made available through the Consolidated Appropriations Act (CAA), we have the following information to consider.

  • This credit is only available for employers that had a full or partial suspension of their business during any calendar quarter of 2020 because
By |2021-04-02T10:53:54-07:00January 20th, 2021|

Social Security Tax Deferral Update

As you probably know, on August 8, 2020, the President issued a memorandum related to delaying the employee portion of Social Security payroll taxes. Then, on August, 28, the IRS released Notice 2020-65, found here: https://www.irs.gov/pub/irs-drop/n-20-65.pdf setting forth some guidance on the President’s memorandum. As expected, the Notice announced an optional delay of the due date for

By |2021-04-02T10:53:52-07:00September 4th, 2020|

RMI video regarding the PPP

We hope that you and your employees continue to be safe and healthy during this trying time. To compliment the regular updates on the different legislation that has been passed to assist businesses (and the PPP loan aspect of those in particular), we wanted to reach out again with some additional, and hopefully helpful, information. RMI has worked

By |2021-04-02T10:53:52-07:00July 17th, 2020|

New Regulations Affecting Clients with PPP Loans

For those of you that have secured a PPP loan through your lender, you may have heard that there are now approved regulations affecting the time period and qualifying costs to be eligible for loan forgiveness. Generally, these appear to be more favorable, meaning that more companies should be able to use the PPP funds for the intended

By |2021-04-02T10:53:47-07:00June 10th, 2020|

PPP Loan Forgiveness Application

As you may have heard, late on Friday, the Small Business Administration and Treasury Department released the application (application and instructions for loan forgiveness) that borrowers will use to seek forgiveness for Paycheck Protection Program (“PPP”) loans, along with detailed instructions for its completion. The 11-page application contains measures that will benefit borrowers, including an

By |2021-04-02T10:53:44-07:00May 20th, 2020|

RMI FFCRA Leave Request Form

RMI knows that you have been inundated recently with information related to both the original federal aid legislation (the Families First Coronavirus Response Act, or the “FFCRA”) and the second major piece of legislation (the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act”). RMI has attempted to mitigate the amount of that inundation by limiting

By |2021-04-02T10:53:43-07:00April 10th, 2020|

RMI CARES Act Update

We know you have many questions regarding the recently passed CARES Act (“the Act”), specifically, what are the next steps? In an effort to keep information flowing, we will produce a series of updates over the next few days as the administrative rules are published. As usual, please seek advice from your CPA, financial advisor, and/or banker on

By |2021-04-02T10:53:39-07:00March 31st, 2020|

Paycheck Protection Program (PPP) Loan Q & A

On Friday afternoon, the U.S. House of Representatives passed the Senate version of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), and President Trump signed the legislation just a few hours later.

In addition to putting money directly in the pockets of many individuals, the CARES Act provides two new avenues for limiting your

By |2021-04-02T10:53:36-07:00March 27th, 2020|
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