Following the initial release of new operational and restarting guidance for manufacturers and other businesses Friday and subsequently the VOSHA training documents, ACCD and VOSHA have responded to input from AIV and other business stakeholders to address modifications and clarifications ahead of more substantial updates expected in the coming days and weeks. To review the […]
REMINDER | Friday May 1 Interactive Online Panel Available to Discuss Operational and Restarting Issues for Manufacturers
AIV’s partners and allies at VMEC will be hosting a live panel of experienced manufacturing and other professionals who will share their personal and business operations experience during this COVID-19 crisis and help address questions about continued operations and restarting operations under the evolving guidance from the Administration. The forum will run from 1:30 to […]
Legislation Providing Grants for “Front Line” Workers Heads for the Vermont Senate Floor, Future Uncertain
The Senate Appropriations Committee has approved legislation, S.346, to provide grants for employees in certain “front line” essential occupations. Qualified employees who worked 108 hours or me in a month could receive $1000 per month, and those working at least 34 hours but less than 108 could receive $600. The grants would be available for […]
VtSBDC Financial Resiliency Resources
The Vermont Small Business Development Center has developed new guidance for businesses as they manage the financial impact of COVID-19: Business Lending 501 highlights the SBA funding opportunities available now as well as Vermont-specific resources. It includes guidance on the SBA application process and a checklist of financial documents needed to apply. The Self-Guided Assessment: Business […]
IRS Publishes New FAQ Extending FATCA Certification Due Date
In response to disruptions related to the COVID-19 virus, the IRS will grant an automatic extension of time to an entity with a FATCA certification due date of July 1, 2020 to submit a FATCA certification. FATCA certifications that are due on July 1, 2020 will be automatically extended to December 15, 2020 within the […]
SBA and Treasury to Launch Eligibility Review of Certain PPP Loans
The Small Business Administration and the Department of the Treasury have announced that the SBA will review all Paycheck Protection Program loans in excess of $2 million to ensure that the loans were disbursed to eligible borrowers. The SBA review will take place after a lender has submitted a borrower’s loan forgiveness application. The NAM will provide […]
IRS Outlines Common Errors to Avoid when Filing for Advance Payment of Employer Credits
Employers who are filing Form 7200, Advance Payment of Employer Credits Due to COVID-19 should read the instructions carefully and take their time when completing this form to avoid mistakes. Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax professionals – can also help avoid errors. Mistakes can […]
Reminder from Department of Labor for Employers’ First Quarter Wage Reports, Offers Flexibility for Contributions and Penalties
The Department of Labor is reminding employers that first quarter wage reports are due on April 30, 2020. Timely submittal will assist the Department in ensuring that Vermonters applying for unemployment will receive benefits. In addition to first quarter wage reports, first quarter unemployment tax contributions are also due on April 30. Flexibility on Quarterly […]
REMINDER | PPP and EIDL Daily Webinar
The SBA Vermont District Office is hosting a free webinar from 9:00 am to 10:00 am Monday through Friday to discuss the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) and Advance. Click here or call (202) 765-1264 and enter the code 470177937# when prompted.
US Department of Labor Ends Temporary Non-Enforcement of Paid Leave Protections during COVID-19 Crisis
The US Department of Labor has announced the end of the temporary period of non-enforcement of paid leave protections under the Families First Coronavirus Response Act (FFCRA). The non-enforcement period allowed the department’s Wage and Hour Division (WHD) to offer extensive guidance and education about the law’s requirements, which aided American workers and enabled employers […]