PA Hazard Pay Grants

Date July 27, 2020
Authors HBK CPAs & Consultants
Categories

The Pennsylvania Department of Community and Economic Development (“DCED”) is offering a grant program to certain industries to subsidize hazard pay to employees.

The grants are available to employers in the following industries:

  • Healthcare and Social Assistance
  • Food Manufacturing
  • Food Retail Facilities
  • Transit and Ground Passenger Transportation
  • Security Services for eligible industries listed above and commercial industries that were not closed as a result of the Governor’s Business Closure Order
  • Janitorial Services to Buildings and Dwellings

Funds may be used to pay hazard pay for direct, full-time and part-time employees earning less than $20/hour. Funds may only be used to pay hazard pay for the 10-week period from August 16, 2020 through October 24, 2020. Hazard pay means additional pay for performing a hazardous duty or work involving physical hardship, in each case that is related to COVID-19.

Employers may apply for up to $1,200 per eligible full-time equivalent (FTE) employee. The hazard pay must be paid to the eligible employee over the 10-week period as a $3/hour hazard pay increase to their regular pay rate.

Employers may apply for a grant to provide hazard pay for up to 500 eligible full-time equivalent employees per location ($600,000 maximum grant per location). No Employer may receive more than $3,000,000 of the funding under the COVID-19 Hazard Pay Grant Program.

For more information and to apply, please go to the DCED website at https://dced.pa.gov/programs/covid-19-pa-hazard-pay-grant/.

If you have questions about the Pennsylvania Hazard Pay Grant, please contact your HBK Advisor.

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Wolf Announces Grants for Small Businesses and CDFIs

Date June 30, 2020
Authors HBK CPAs & Consultants
Categories

Information updated as of June 30, 2020.

The application process to receive grants for small businesses opens today, June 30, 2020.

The first application window will remain open for ten days. Applications will continue to be accepted after 10 business days but will be considered for future rounds of funding, as this is not a first-come, first-served program. Applications will be prioritized and selected for funding based on the program criteria.

The Department of Community and Economic Development (DCED) will distribute the funds to the Community Development Financial Institutions (CDFIs), which will then administer the funding in the form of grants.

https://pabusinessgrants.com/

On Tuesday, June 8th, Pennsylvania Governor, Tom Wolf, announced a $225 million grant program to assist small businesses in their recovery from COVID-19.

The money will be distributed by the Department of Community and Economic Affairs through community development financial institutions (“CDFI”) such as credit unions and non-profit loan funds. The money can be used to cover operating expenses, train employees or pay debt as businesses transition to reopening.

The funds are available through three programs:

  • $100 million through the Main Street Business Revitalization Program for small businesses that experienced losses as a result of the Governor’s COVID-19-related order to close all non-life-sustaining businesses and have or will incur reopening costs
  • $100 million through the Historically Disadvantaged Business Revitalization Program for small businesses who experienced losses as a result of the business closure order, and in which socially and economically disadvantaged individuals own at least a 51 percent interest and control management and daily business operations
  • $25 million through the Loan Payment Deferment and Loss Reserve Program for CDFIs to increase their loan reserves as a result of the impact of increased loan defaults on existing loans

More Information can be found on the Department of Community and Economic Development’s website at https://dced.pa.gov/programs/covid-19-relief-statewide-small-business-assistance/.

We’re here to help. To discuss COVID-19’s effect on your business, contact your HBK advisor.

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Pennsylvania – COVID-19 Working Capital Access (CWCA) Program

Date March 30, 2020
Authors HBK CPAs & Consultants
Categories

The COVID-19 Working Capital Access (CWCA) Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak.

All CWCA loan applications must be submitted through a Certified Economic Development Organization (CEDO).

Working capital, which for purposes of this program is considered capital used by a small business for operations, excluding fixed assets and production machinery and equipment.

An eligible small business enterprise is a for-profit corporation, limited liability company, partnership, proprietorship or other legal business entity located in the Commonwealth of Pennsylvania and having 100 or fewer full-time employees worldwide at the time of submission of the application.

The maximum loan amount is $100,000. The loan terms are three years with a 12-year amortization. Additionally, no payments will be due and payable during the first year, principal and if applicable, interest payments will be due monthly for years two and three, and a balloon payment will be due and payable at the end of the third year.

The interest rate for the program is 0% except for agricultural producers in which case the interest rate is 2 percent fixed for the life of the loan.

To learn more or apply for a COVID-19 Working Capital Access (CWCA) loan please click here: https://dced.pa.gov/programs/covid-19-working-capital-access-program-cwca/

HBK will continue to follow developments and provide guidance and clarity surrounding COVID-19 business issues. To discuss COVID-19’s effect on your business, contact your HBK advisor.

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Does My State Have a Filing Extension?

Date March 25, 2020
Authors HBK CPAs & Consultants
Categories

The federal government has extended, until July 15, 2020, the tax filing and payments deadline for all taxpayers who had an April 15, 2020 deadline. Many states have come forward and announced extension plans of their own, with some states mirroring the extension provided by the federal government and other states implementing their own extension of time to file and pay. Each state, and locality, has adopted its own provisions and as this is a developing story, we are expecting more states and localities to release guidance. Below are several states that impact HBK clients and the information that those states have released so far.

This information was last updated on March 25, 2020.

State Extension Date Information
California July 15, 2020
California has pushed its tax filing and payment deadline to July 15, waive interest and late filing and late payment penalties. FTB is extending the relief to all California taxpayers. Taxpayers do not need to claim any special treatment or call FTB to qualify for this relief.
The Franchise Tax Board is postponing until July 15 the filing and payment deadlines for all individuals and business entities for:
  • 2019 tax returns
  • 2019 tax return payments
  • 2020 1st and 2nd quarter estimate payments 2nd quarter estimate payments
  • 2020 LLC taxes and fees
  • 2020 Non-wage withholding payments
Florida July 1, 2020 for Annual Report Filings Florida has extended for any profit corporation, limited liability company, limited partnership or limited liability limited partnership the annual report filing until July 1, 2020.

Property tax payments due March 31 will be extended to April 15, 2020. This applies to all individuals and business owners in all Florida counties.

Sales, use and other taxes collected February or March 2020 reporting periods will have a waiver of penalties and accrual of interest.

Tangible Personal Property Tax Returns for many counties have been extended. Please reach out to your HBK Advisor to see how these extensions may impact you.
New Jersey July 15, 2020 In a press release on April 1, 2020 the state has agreed to extend income tax filings and corporate business tax filings from April 15 to July 15, 2020. Guidance from the Department of Taxation is expected to file.

The payment deadline is expected to be extended as well.
New York July 15, 2020 Through Executive Order Number 202.12 the deadline in New York for certain tax filing and payment deadlines has been extended to July 15, 2020. This applies to individual returns, fiduciary returns and corporate tax returns originally due on April 15, 2020.

No extension is provided in this notice for the payment or deposit of any other type of state tax, or for the filing of any state information return.

Taxpayers do not need to file any additional forms or call the Tax Department to request or apply for this relief. The returns due on April 15, 2020, will automatically be granted the filing and payment deadline extension and relief from penalties and interest. Taxpayers who are due a refund are urged to file as soon as possible.

• 2019 returns due on April 15, 2020, and related payments of tax or installments of tax, including installments of estimated taxes for the 2020 tax year, will not be subject to any failure to file, failure to pay, late payment, or underpayment penalties, or interest if filed and paid by July 15, 2020.

• If you are unable to file your 2019 return by July 15, 2020, you can request an automatic extension to file your return. Your return will be due on October 15, 2020,1 if the extension request is filed by July 15, 2020, and you properly estimate and pay your 2019 tax liability with your extension request.

• Interest, penalties, and additions to tax with respect to such extended tax filings and payments will begin to accrue on July 16, 2020. • If you already have filed your 2019 return and scheduled your direct debit payment, your direct debit payment will not be automatically rescheduled to occur on July 15, 2020. You must cancel and schedule a new direct debit payment.
  New York City New York City has issued a waiver of penalties on business and excise tax due between due between March 16, 2020, and April 25, 2020. Taxpayers may request to have the penalties waived on a late-filed extension or return, or in a separate request. There is no waiver of interest.
Ohio July 15, 2020 for state income tax returns Ohio will be waiving penalty on tax due payments made during the extension.

The filing extension, and waiver of penalty and interest, will be available for: individual income tax, school district income tax, pass-through entity tax, and for those taxpayers who have opted in to have the commissioner administer the municipal net profit tax through the state’s centralized filing system.

Individuals, estates, trusts and certain businesses making quarterly estimated income tax payments, have also been granted additional time to file and pay without penalty or interest. The first and second quarterly payments, normally scheduled for April 15 and June 15 for most taxpayers, have both been extended to July 15.

Many cities and municipalities have also extended the due date of their income tax returns, please contact your HBK advisor to learn how this impacts you.
Pennsylvania Pennsylvania Extends Personal Income Tax Return Filing Deadline to July 15, 2020

Partnerships, Estates and Trusts are due August 14

S-Corps in Pennsylvania are due August 14

Corporations are due 30 days after the federal return, the Federal return is currently due July 15, so in PA Corporate returns are due August 15
Extension of Filing Deadline Applies to Trusts/Estates, Partnerships and S Corporations Due Date for Certain Corporation Returns Also Being Moved Governor Tom Wolf recently signed into law Act 10 of 2020, which extends the due date of certain personal income tax returns and payments, as well as waiving certain other income tax dates. The Department of Revenue also announced today it is extending the due date for corporations with tax returns due in May to August 14, 2020.

The Department of Revenue will also waive penalties and interest on 2019 personal income tax payments through the new deadline of July 15, 2020. This extension applies to both final 2019 tax returns and payments, and estimated payments for the first and second quarters of 2020. The deadline for taxpayers who make quarterly estimated personal income tax payments is also extended to July 15, 2020. That means estimated payments for the first and second quarters of 2020 will be due by July 15, 2020. Many localities have also extended, please contact your HBK advisor to see if any of the local extensions apply to you.
  Philadelphia Philadelphia the BIRT and NPT have been extended to July 15, 2020 and real estate taxes are extended to April 30, 2020.

For more information on states that are not included in this chart please consult the state extension information put out by the American Society of CPA’s which can be found here https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/coronavirus-state-filing-relief.pdf

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Resources for Pennsylvania Employees and Employers Affected by COVID-19

Date March 24, 2020
Authors Amy M. Reynallt
Categories

Pennsylvania state officials have made several resources available to residents and businesses as they work to combat the spread of COVID-19:

  • On March 19, Governor Tom Wolf ordered all non-life-sustaining businesses in the state to close their physical locations. The businesses can work remotely as long as social distancing and other COVID-19 mitigation guidance is followed. Businesses that are considered life-sustaining are listed at: https://www.scribd.com/document/452553026/UPDATED-5-45pm-March-21-2020-Industry-Operation-Guidance. If you are unsure whether your business can be classified as life sustaining, you can contact the Department of Community and Economic Development at: ra_dcedcs@pa.gov. Enforcement action against non-compliant business will begin Monday, March 23, 8:00 AM.

    Businesses may apply for a waiver to keep their physical locations open by completing the application. Until the waiver is approved and provided, businesses must comply with Governor Wolf’s order by suspending in-person, physical operations.
  • The Commonwealth Financing Authority has provided funding so that the Pennsylvania Industrial Development Authority can provide zero-interest, working capital loans of up to $100,000 to small businesses with 100 or fewer full-time employees. More information about funding availability will be released in the coming days. For details, contact credc@hbgrc.org.
  • Businesses affected by COVID-19 in Pennsylvania are eligible to apply for loans through the U.S. Small Business Administration. These loans are intended to support working capital needs. For more information, visit or sba.gov/disaster.
  • The deadline for filing Pennsylvania personal income tax returns has been extended from April 15, 2020 to July 15, 2020. This change aligns with the change to the federal income tax deadline.
  • Effective March 16, all Driver’s License and Photo ID Centers will be closed for at least two weeks. Online services, including driver’s license, photo ID, and vehicle registration renewals, remain available online. Expiration dates for driver’s licenses, identification cards, vehicle registrations, and safety and emission inspections scheduled between March 16 and 31, 2020, have been extended to April 30, 2020.
  • On March 20, temporary regulation changes were made to ensure medical marijuana patients in Pennsylvania have access to medication. Changes include:
    • Dispensary employees can now provide medical marijuana to a cardholder in their vehicle.
    • In-person consultations between approved practitioners and medical marijuana cardholders have been waived in favor of remote consultations for renewal certifications.
    • Ninety-day supplies will be permitted for select patients.
    • For a full list of temporary regulation changes, click here.
  • Employees who have been laid off and have not been paid fully for their work prior to being released, or who are otherwise owed compensation, should contact the Pennsylvania Bureau of Labor Law Compliance. More information can be found at: https://www.dli.pa.gov/Individuals/Labor-Management-Relations/llc/Pages/Labor-Law-Compliance.aspx.
  • The Pennsylvania Department of Labor & Industry is asking anyone who may have filed a bankruptcy notice to send information about your bankruptcy to: RA-OUCB-BPC@pa.gov. Copies of bankruptcy paperwork, if available, or the claimant’s name, bankruptcy number, and last four digits of their Social Security Number should be included in the email. Following this process may help expedite the review process, which otherwise could be delayed due to commonwealth employees working from home.
  • Central Pennsylvania residents and businesses are encouraged to check the Harrisburg Regional Chamber’s website — www.harrisburgregionalchamber.org — often for community support programs. Current support programs can be found at: https://www.harrisburgregionalchamber.org/harrisburg-regional-chamber-members-offer-support-to-community/.
  • Additional resources are available at the Pennsylvania Department of Health at: https://www.health.pa.gov/topics/Documents/Diseases%20and%20Conditions/Coronavirus%20Businesses%20Fact%20Sheet.pdf.
  • If you have additional inquiries, email them to: ra_dcedcs@pa.gov. Include your name, business name, contact information, and concern.
If you have questions or would like to discuss COVID-19’s effect on you or your business, contact a member of the HBK CPAs & Consultants team.

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City of Philadelphia and PIDC Open Applications to Philadelphia COVID-19 Small Business Relief Fund

Date March 24, 2020
Authors HBK CPAs & Consultants
Categories

The City of Philadelphia and the Philadelphia Industrial Development Corporation (PIDC) today launched the COVID-19 Small Business Relief Fund, a more-than-$9 million grant and loan program designed to support Philadelphia small businesses, help maintain payroll obligations, and preserve jobs impacted by the spread of the COVID-19 virus.

The Philadelphia COVID-19 Small Business Relief Fund is a tiered program providing targeted support for small businesses, which face an unprecedented challenge due to the ongoing global pandemic. The fund offers a mix of new grants and zero-interest loans for businesses that make under $5 million in annual revenue.

Click the link below for additional information on the Philadelphia COVID-19 Small Business Relief Fund:
https://www.phila.gov/2020-03-23-city-of-philadelphia-and-pidc-open-applications-to-philadelphia-covid-19-small-business-relief-fund/

Click the link below for additional information on how businesses can apply for assistance from the Philadelphia COVID-19 Small Business Relief Fund:
https://www.phila.gov/programs/philadelphia-covid-19-small-business-relief-fund/?mc_cid=e610c84755&mc_eid=701a23fa37

HBK will continue to follow developments and provide guidance and clarity surrounding COVID-19 business issues. To discuss COVID-19’s effect on your business, contact your HBK advisor.

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Resources for Mid-Atlantic Employees and Employers Affected by COVID-19

Date March 22, 2020
Authors HBK CPAs & Consultants
Categories

Employers and employees of Pennsylvania, New Jersey and New York who are affected by the COVID-19 virus have the following resources available:

Pennsylvania –
If you are employed in Pennsylvania and are unable to work because of COVID-19, you may be eligible for Unemployment or Workers’ Compensation benefits. Previously, claimants were not eligible for benefits during their first week of unemployment (the “waiting week.”) This has been suspended; eligible claimants may receive benefits for the first week that they are unemployed.

Click the link below for additional information:
https://www.uc.pa.gov/Pages/covid19.aspx

If you believe you may have been exposed to COVID-19 in your workplace, you may be eligible for workers’ compensation (WC).
https://www.uc.pa.gov/COVID-19/Pages/WC-COVID-FAQs.aspx

New York –
The 7-Day waiting period is being waived for Unemployment Insurance benefits for people who are out of work due to COVID-19 closures or quarantines.

Click the link below for additional information:
https://labor.ny.gov/unemploymentassistance.shtm

New York offers both workers compensation and disability insurance. Currently, the website does not offer much guidance regarding the COVID-19.

Click the link below for additional information:
http://www.wcb.ny.gov/content/main/Workers/Workers.jsp

The state of New York will allow some homeowners to skip their mortgage payments for three months in response to the spread of COVID-19.On Thursday, the New York Department of Financial Services (DFS) sent a letter to mortgage servicers directing them to provide several relief options in response to the outbreak, including suspending mortgage payments for up to 90 days.

Click the link below for additional information:
https://www.dfs.ny.gov/industry_guidance/industry_letters/il20200319_coronavirus_mortgage_relief

New Jersey –
A person who is out of work because their employer voluntarily closed because of the COVID-19 could be eligible for unemployment insurance.

Click the link below for additional information:
https://myunemployment.nj.gov/

New Jersey has among the most comprehensive Earned Sick Leave, Temporary Disability and Family Leave Insurance laws in the country, which cover all employees – full-time, part-time, temporary and seasonal.

Click the link below for additional information:
https://www.nj.gov/labor/worker-protections/earnedsick/covid.shtml

Small Business Association (SBA) – SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for small businesses and non-profits. These loans can provide vital economic support to small businesses to help pay for fixed debts, payroll and other bills that cannot be paid because of the COVID-19 impact. Pennsylvania, New Jersey and New York are among the states that have been approved.

Click the links below for additional information:
https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/sba-provide-disaster-assistance-loans-small-businesses-impacted-coronavirus-covid-19
https://www.sba.gov/funding-programs/disaster-assistance

Conclusion:
We will continue to follow developments and provide guidance and clarity surrounding COVID-19 business issues. We are only beginning to understand how to navigate these unprecedented times. For business questions related to or to discuss COVID-19’s effect on your business, contact your HBK advisor.

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