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  • Coronavirus Alert

    How the Shared Work Program Could Benefit Employers and Employees Mutually

    May 7, 2020
    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.
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  • Coronavirus Alert

    Paycheck Protection Program: SBA Extends Safe Harbor Date to Repay PPP Loans

    May 6, 2020
    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.
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  • Coronavirus Alert

    Mike Moore Joins COVID-19 Podcast

    May 6, 2020
    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.
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  • Coronavirus Alert

    Paycheck Protection Program: SBA Will Provide Relief from Potential Reduction in Loan Forgiveness for Attempts to Rehire Employees

    May 5, 2020
    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.
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  • Coronavirus Alert

    Timeframes Extended for Group Health and Retirement Plans

    May 5, 2020
    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.
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  • Coronavirus Alert

    Quick Guidance to Lenders: Update to SBA Frequently Asked Questions Issued April 29, 2020

    May 1, 2020
    The Small Business Administration (SBA) recently released an update to its Frequently Asked Questions.
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  • Coronavirus Alert

    Notice Required if Employee is Separated From Employment

    April 29, 2020
    Arkansas Department of Workforce Services Emergency Rule 30 became effective on April 27, 2020 and will expire on December 31, 2020. This rule requires employers to give notice to employees of the availability of unemployment benefits when they are let go. The state promulgated this rule to comply with requirements in the CARES Act to allow it to receive supplemental federal funding. Thus, beginning April 27, 2020 every employer in the state is required to give a copy of the notice prepared by ARDWS to employees upon separation of employment.
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