There is a “significant risk” of fraud for Paycheck Protection Program loans, the Government Accountability Office (GAO) said June 25, 2020, urging the Small Business Administration to ramp up efforts to respond to such risks. In a report released that day, the...
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Congress Passes Coronavirus Relief for Nonprofit Groups
Bipartisan legislation to provide coronavirus relief to nonprofit groups has been approved by Congress and President Donald Trump is expected to sign it into law. The measure also provides relief to state, local and tribal governments. The U.S. House passed...
Treasury, IRS Issue Guidance on Reporting Qualified Sick and Family Leave Wages Paid
WASHINGTON – The Treasury Department and the IRS provided guidance in Notice 2020-54 to employers requiring them to report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act (FFCRA) on Form W-2....