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3D printing is a process by which a three-dimensional object is generated from a digital model. 3D printing, also known as “additive manufacturing,” has countless applications across fields ranging from aerospace and aviation to food and children’s toys. The various applications and innovations offered by 3D printing show no signs of slowing down, with forecasts of revenue from 3D-printing products and services worldwide estimated at $15.8 billion for 2020, climbing to $23.9 billion for 2022, and to $35.6 billion for 2024. Wohlers Report, 3D Printing and Additive Manufacturing: State of the Industry (2019).

We have found the Shared Work Program to be very beneficial for employers and employees. The program allows employers to reduce hours by 10 to 40 percent. The employee receives part wages from his employer, an amount of state unemployment benefits that corresponds to the reduced hours, and the $600 weekly unemployment benefit through the end of July. As a result in most cases, employees are made whole. At the same time, employers are able to keep their employees close so they can be called back to work full-time when needed. The added bonus for employers is that participation in the Program does not impact their experience ratings.

Late Tuesday, May 5, the SBA issued an update to its Frequently Asked Questions (see FAQ #43) to extend the safe harbor date for repayment of a PPP loan from May 7 to May 14. Any borrower that repays a PPP loan by this date will be deemed by SBA to have made the required certification regarding the necessity of the loan in good faith.

Michael S. Moore was the guest on HoganTaylor's podcast "Accounting for COVID-19." In the episode, Mike discusses the legal issues, or “Rules of Engagement,” for reopening businesses. Mike answers questions and discusses choices that leaders need to make once they reopen their offices, including keeping staff safe while maintaining their privacy, social distancing constraints, and how to avoid some potential pitfalls.

The SBA recently issued updates to its Frequently Asked Questions interpreting provisions of the Paycheck Protection Program. FAQ #40 addresses application of the CARES Act provisions that reduce the amount of loan forgiven based upon the number of employees retained by a borrower.

Continuing with ongoing efforts to provide relief during this COVID-19 National Emergency, the Internal Revenue Service, Department of Labor, Treasury Department and EBSA (the “Agencies”) have issued new joint guidance extending certain timeframes under ERISA and the Internal Revenue Code that apply to group health, disability and other welfare plans, and retirement plans as well as the participants/beneficiaries of those plans during this National Emergency.

The Small Business Administration (SBA) recently released an update to its Frequently Asked Questions.