COVID-19 Relief: Overview of the New CARES Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. In addition to giving people access to health care treatments, the new law will provide roughly $2 trillion in much-needed financial relief to individuals, businesses, not-for-profit organizations, and state and local governments during the coronavirus (COVID-19) pandemic. Here…
Federal Tax Relief to Alleviate COVID-19 Hardships
The coronavirus (COVID-19) pandemic has already had widespread effects on the U.S. economy. Demand for many goods and services has stalled. Unemployment claims have skyrocketed. And many schools and businesses are operating online — if at all. Life has changed dramatically across the country. The federal government has been working on various relief measures to…
COVID-19 Response for Individuals, Small Businesses and Nonprofits
Individuals, small businesses and nonprofits are all feeling the impact of the COVID-19 crisis. With news and information coming from many different directions, it is difficult to understand how to respond when it comes to taxes, cash flow, workforce planning, IT security and general crisis management ― all while working remotely. GRF CPAs & Advisors…
How to Manage COVID-19-Related Business Risks
The coronavirus (COVID-19) outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, business owners and managers face an uncertain and stressful future. Faced with faltering demand, anxious employees, health safety risks and a lack…
Successful Nonprofit Cybersecurity & Privacy for Remote Work
As a result of social distancing to slow the spread of COVID-19 (coronavirus), nonprofits are more reliant on technology than ever before to deliver on their mission through remote work. Measures to control and prevent the spread of the disease have increased the need for the integration of digital technology into all aspects of the…
Continuity of Operations Considerations for Nonprofits during a Pandemic
Business Continuity Plans (BCP) are important part of risk management and can include scenarios such as pandemics like the coronavirus, government shutdowns, natural disasters and cyberattacks. Risk management planning for a pandemic involves identifying risks and assessing the impact and developing mitigation strategies to manage risks. If your nonprofit does not have a plan in…
Is Your Family Medical Leave Policy Up-to-Date?
The Administrator of the Department of Labor’s Wage and Hour Division (WHD) periodically responds to new Family Medical leave Act (FMLA) compliance questions from employers and employees. Notable ones are posted for the benefit of people facing similar situations. Here’s a sampling. A recent case deals with whether an employee’s time away from work to…
New e-Filing Requirements for Tax-Exempt Organizations
Under a little-noticed provision buried deep in the Taxpayer First Act, tax-exempt organizations will be required to file certain information returns and related forms electronically. Your nonprofit organization should be prepared for this change that goes into effect for tax years beginning after July 1, 2019. Background Information The Taxpayer First Act, signed by President…