Blog

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 the withholding and payment [...]

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 with [...]

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 purposes [...]

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 option that lets small [...]

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 the [...]