Please see below for all BMWL Alerts related to COVID-19: Legal and Regulatory Developments for Nonprofits

The Employee Retention Credit – A Potential Source of Sizable Federal Aid for Qualifying Nonprofits (May 5, 2021)

BMWL PPP Loan Forgiveness Summary (Updated Periodically)

BMWL CARES Act Summary (Updated Periodically)

Congress Passes Major New Relief/Stimulus Legislation (January 14, 2021)

IRS Provides Temporary Relief for Valuing Personal Use of Employer-Provided Automobiles (January 6, 2021)

SBA Releases Exact Loan Amounts for all PPP Borrowers (December 2, 2020)

SBA Creates Questionnaire for Large PPP Borrowers Related to Loan Eligibility (November 12, 2020)

IRS Issues Limited Additional Guidance Regarding Optional Deferral of Employee Social Security Taxes (August 31, 2020)

President Trump Issues Presidential Memorandum to Defer Employee Social Security Taxes (August 20, 2020)

Expansion of Main Street Lending Program to Certain Nonprofit Organizations (August 19, 2020)

BMWL Webinar: PPP Loan Forgiveness – An Update (July 23, 2020)

Don’t Pass the Plate – Sanitary and Sound Practices for Church Offering Collections (June 30, 2020)

Five Reasons Your Organization May Want to Elect the 8-Week Covered Period for Its PPP Loan (June 23, 2020)

PPP Loan Not Right for Your Organization? The Employee Retention Credit Might Be – And It Could Be Improving (June 12, 2020)

Congress Passes Major Favorable Changes to PPP Loan Forgiveness Rules (June 8, 2020)

SBA, Treasury to Evaluate Borrowers’ Eligibility for PPP Loans Amidst Criticism of Large Companies Obtaining Funds (April 29, 2020)

IRS Postpones Filing and Payment Due Dates for Nonprofit Returns (April 16, 2020)

IRS Issues Guidance on Employer Payroll Tax Deferral (April 15, 2020)

Economic Injury Disaster Loans and Grants – Additional Funding Opportunity Available to Nonprofits (April 9, 2020)

Relief Payments by Employers to Employees in Connection with COVID-19 Pandemic May Qualify as a Nontaxable Benefit (April 8, 2020)

Effective Date Set as April 1, 2020 for Families First Coronavirus Response Act (March 26, 2020)

New Law Requires Employers to Pay Certain Benefits to Employees Affected by Coronavirus with the Federal Government Covering the Cost (March 25, 2020)