We understand the need for guidance in this rapidly changing time of COVID-19. We’ve created this Coronavirus Resource Center as a place you can look to provide answers on relief legislation, tax and regulatory guidance and impact to the economy.
Information is being updated on an ongoing basis. Please refer to the most recent updates first as earlier posts may be superseded by more recent guidance. As always, please don’t hesitate to contact a LaPorte professional for advice on your unique situation.
Reporting Requirements Changed Yet Again for Recipients of Provider Relief Funds
The U.S. Department of Health and Human Services (HHS) once again revised the reporting requirements for recipients of provider relief funds (PRF). In a notice
Highlights of the Consolidated Appropriations Act 2021
Congress extended and expanded certain provisions of the original CARES Act by passing The Consolidated Appropriations Act of 2021 (the 2021 Appropriations Act) in late
Employee Retention Tax Credit Extended and Expanded by Consolidation Appropriations Act, 2021
The Consolidation Appropriations Act, 2021, has extended the Employee Retention Credit (ERC) through July 1, 2021. In addition, the new regulations change which businesses can
Safe Harbor Provides Path Forward to Deducting PPP Loan Expenses
The IRS once again addressed the deductibility of eligible Paycheck Protection Program (PPP) loan expenses. On Wednesday November 18th, the IRS released Revenue Ruling 2020-27
Changes in Ownership May Change Reporting Requirements for Paycheck Protection Loans
On October 2, 2020, The Small Business Administration issued Notice 5000-20057 outlining specific reporting procedures that are required for entities that have received Paycheck Protection
HHS Updates Guidance on Provider Relief Fund Repayment Data Requirements
On September 19, 2020, the U.S. Department of Health and Human Services (HHS) updated their Post-Payment Notice of Reporting Requirements from August 14, 2020 (the
Accounting Solutions for CARES Act Program Proceeds
When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020, they sanctioned much-needed relief payments to healthcare providers across
