New SBA Program as a Result of the CARES Act

The Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was signed into law on Friday, March 27th. The act includes a provision for SBA loans to businesses meeting certain qualifications with loan forgiveness and payment deferral relief options. Click here for more information: https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3A63096d6e-b0cb-4321-885a-543f5398407b

Paycheck Protection Program and the Economic Impact Disaster Loan provided for in the Cares Act

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has important provisions all businesses should be evaluating right now.  The Paycheck Protection Program (PPP) allocates almost $350 billion to help small businesses keep their employees and prevent other losses caused by the COVID-19 pandemic.  PPP loans are 100% federally guaranteed and the funds may…

How Will My Employees’ Unemployment Claims Related to COVID-19 Affect My Unemployment Tax Premiums?

Unemployment claims have skyrocketed in Utah, as in other states, since the outbreak of COVID-19. Many employers are concerned that the spike in claims will cause their unemployment insurance premiums to dramatically increase. On March 25, 2020, the Utah Department of Workforce Services (DWS) issued guidance on this topic: https://jobs.utah.gov/covid19/uifaqemployers.pdf. First, DWS indicated that the spike…

Department of Labor Issues “Questions and Answers” on Families First Coronavirus Response Act

The Department of Labor has published “Questions and Answers” to assist employers with complying with the Families First Coronavirus Response Act: https://www.dol.gov/agencies/whd/pandemic/ffcra-questions. This document provides plain-language guidance to practical questions. Formal regulations from the DOL interpreting the Act are still forthcoming.

Family First Coronavirus Response Act Notice Requirements

 (https://www.dol.gov/agencies/whd/pandemic/ffcra-poster-questions) Where do I post this notice? Since most of my workforce is teleworking, where do I electronically “post” this notice? Each covered employer must post a notice of the Families First Coronavirus Response Act (FFCRA) requirements in a conspicuous place on its premises. An employer may satisfy this requirement by emailing or direct mailing…