The Families First Coronavirus Response Act requires paid leave for small-business employees affected by coronavirus and includes tax relief for employers. (enacted March 18, 2020)
COVID-19 Webinar Regarding Employee Programs, and high level SBA Programs including the PROPOSED CARES Act
Addressing how the current changes impact business owners. Topics covered include:
Proactive Business Practices, Common Questions to Address in Planning, Available Financial Assistance, Credit Options – Including the SBA Program, Families First Coronavirus Response Act, Emergency Family and Medical Leave Expansion Act, Emergency Paid Sick Leave Act, Upcoming Potential Legislation: CARES Act, State Unemployment Updates and Payroll Tax Credits
Short-Time Compensation Employer FAQ
The Short-Time Compensation program helps prevent layoffs. Employers with approved STC plans can uniformly reduce affected employees’ hours by 10 to 60 percent while the employees receive a prorated unemployment benefit. List is from the Nebraska DOL website.
Frequently asked questions regarding COVID-19 for employees in Nebraska. List is from the Nebraska DOL website.
SBA Disaster Assistance in Response to the Coronavirus
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
COVID-19 Scenarios & Benefits Available
Detailed scenarios surrounding emergency sick leave, unemployment insurance, emergency family & medical leave and workers’ compensation.
Refundable Tax Credits Finance Paid Leave – Effective 4/2/2020
Small businesses may learn how to finance paid sick and family leave with refundable tax credits.
Links to Additional Information on COVID-19:
McMill CPAs & Advisors will make every attempt to provide our clients with the most up to date information. However, the information contained on this page can update hourly, and there may be instances where it is out of date. If you have questions on any of the items please contact your advisor.