COVID 19

Paycheck Protection Program – Application and Overview for Forgivable Loans Released by Treasury

On Thursday, April 2nd, the SBA released interim final rules on the Paycheck Protection Program.  A link to these rules as well as FAQ’s and interim final rules on affiliation are included below. The Department of Treasury published the application as well several other supporting documents for the Paycheck Protection Program on Tuesday afternoon, March 31, 2020. The program was designed to provide small businesses with the funds to retain their employees through the COVID 19 crisis. If small business owners use the funds as directed by the CARES Act and the Treasury Department, the loans will be eligible for…

COVID 19

The CARES Act – Paycheck Protection Program – an Extension of the SBA 7(a) Loan Program

On Friday, March 27th Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act and it was signed by President Trump later that afternoon. The first section of the bill is focused on keeping employees of America’s small business on the job and receiving paychecks. While there are still some unanswered questions on the program, here is some information on what is included in the bill. Eligibility Small business with less than 500 employees 501(c)3 with less than 500 employees Sole proprietorship Individual operating as an independent contractor Self employed individual who regularly carries on a business or trade 501(c)19 Veterans…

COVID 19

FFCRA Poster and Notice Requirements

The Wage and Hour Division of the DOL recently introduced a new poster compliance requirement for businesses covered by the FFCRA. The bill requires paid sick leave and extended FMLA for certain impacted employees and becomes effective April 1, 2020. The poster provides information to employees about eligibility and paid leave entitlements. The poster must be placed in a conspicuous location. The notice requirement may also be met by emailing, direct mailing, or posting the required noticed to an internal external employee website.

COVID 19

The Department of Labor Provides More Answers on Paid Sick Leave and FMLA

On Saturday, March 28th the Department of Labor releases a third set of FAQ’s on the new Paid Sick Leave and Extended FMLA requirements for small businesses.  This legislation also includes payroll tax credits to cover the cost of providing these benefits to employees.   The law goes into effect on April 1st.   These benefits are specifically targeted to help two groups of employees: Employees that are unable to work based on a positive case of COVID 19 or those that are pending test results Employees that are at home, and based on school closures, need to care for their children…

COVID 19

Resources and Information from Hill Country Payroll

The last two weeks have been the wildest ride many of us have experienced as business owners and leaders. In many cases it has been difficult to even imagine the changes can happen in just a short 24 hour period. Hill Country Payroll will be here with you. While we are working under some new processes to ensure the safety of our team, our clients, and their businesses, HCP is fully operational and is committed to ensuring your employees are paid on time. We have spent many hours over the last 2 weeks working to stay on top of business…