FEDERAL Response

Breaking: SBA Forms and guidelines to complete for PPP applications

Here are the forms businesses should be completing now for their bankers to get in line for Paycheck Protection Program loans.

the CARES Act for US Business Owners

Summary by UBS FInancial Advisors

A useful 4-page summary of the major provisions of the Phase III CARES Act that apply to Small Business Owners. Members have found this useful navigating these new provisions.

Breaking: Families First Coronavirus Response Act

The summary and text of the Families First Coronavirus Response Act passed by the house on March 14. This act will create two new laws: the Emergency Family and Medical Leave Expansion Act (EFMLEA) and the Emergency Paid Sick Leave Act (EPSLA).

Working Washington Small Business Emergency Grants

Governor Inslee is offering a new Working Washington Small Business Emergency Grant program to assist small businesses impacted by the COVID-19 outbreak. Up to $5 million in funds are provided through the Governor’s Strategic Reserve Fund and administered by the State Department of Commerce. The grant program will provide a limited number of businesses in Washington’s 39 counties with a grant up to $10,000.

COVID-19 resource list for impacted Washington businesses and workers

The Governor’s Office has compiled this list of local and federal resources to support economic retention and recovery related to COVID-19 coronavirus.

The City of Seattle’S Small Business Stabilization Fund

Full details and application links for the City of Seattle’s $1.5M Small Business Stabilization Fund.

Employment security dept shareDwork program

SharedWork is a voluntary business sustainability program that provides flexibility to retain employees at reduced hours. Full details and application links are provided.

SBA Webinar: SBA Loans & Grants Available Under the New CARES ACT

Thursday, April 2
2:00 PM

The recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a number of new resources for small businesses, non-profits and other employers.

Join representatives from the U.S. Small Business Administration (SBA) as they review the new funding opportunities available including the Paycheck Protection Program (PPP) Loans, the SBA Debt Relief and Express Bridge Loans, and the Economic Injury Disaster Loans (EIDL) and Emergency Economic Injury Grants.

Speakers:
Mark Costello, Deputy District Director @ U.S. Small Business Administration
Cynthia Crowley, Public Information Officer @ U.S. Small Business Administration
Kristina Hudson Executive Director @ OneRedmond

SBA Disaster Loans

Note: Washington is a declared disaster area and all Washington businesses are eligible to apply for these loans.

The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19)

SBA DISASTER RELIEF RECOVERY CENTER

In-depth guidance and strategies for how to respond to COVID-19 now, with pointers to resources the SBA offers to assist with business issues at this time.

TAX FILING / TAX RELIEF

PRESS RELEASE CENTER FROM THE AMERICAN INSTITUTE OF CPAS (AICPA)

Recent relevant posts (1-2 minute reads):

• COVID-19 U.S. Emergency Declaration: What Does it Mean for U.S. Taxpayers and Tax Practitioners? (March 13)

• IRS have yet to provide taxpayers and tax preparers with filing and payment relief (March 13)

IRS DISASTER ASSISTANCE AND EMERGENCY RELIEF PROGRAM

This document is intended to help congressional staff find publicly available information. The document itself is not official guidance. However, it does provide hyperlinks to www.IRS.gov, where official IRS guidance is posted.