WEBINAR: PPP Update Following the Flexibility Act and Revised Forgiveness Applications

Webinar 06/26/2020

Join Employco USA to learn about the LATEST UPDATES to the Paycheck Protection Program (PPP) following the enactment of the Flexibility Act and revised forgiveness applications.

During this FREE webinar, we’ll:

  • Summarize the updated regulations and instructions released on June 5th and June 17th
  • Learn the differences available between the 8-week and 24-week forgiveness periods
  • Discuss the new options to setup your measurement period for payroll and non-payroll costs
  • Review the new EZ Forgiveness application
  • Examine the new wage limits if the 24-week option is selected
  • Provide details on how to calculate a FT vs FTE employee
  • Discuss tips to maximize the forgiveness, and talk about the rules for the portion of the loan that is not forgiven
  • Review how the forgiveness evaluation limits owners’ compensation

You’ll also be able to get some clarity on human resource issues including unemployment and payroll. Employco provides HR and payroll solutions to businesses across the country.

There will be a brief presentation to begin the session, but most of the time will be dedicated to answering your specific questions!

FREE REGISTRATION
You’ll be able to join us at 11:00am CT on Friday, June 26th from your computer, tablet, or smartphone (you can also dial-in):

REGISTER HERE

You can also use our registration form to submit questions you’d like to see answered/covered during the webinar.

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Podcast: Reopening the Workplace

Rob, Scott, and Jason discuss reopening the workplace; from performing a building walkthrough to identifying hazards and how to address them, optimizing your HVAC filtration system, following CDC recommendations, conducting an employee survey, limiting staff back at one time, having a plan in place if someone shows symptoms, and more.

Podcast: Reopening the Workplace

Contact us with any questions you may have, we’re here to help: hr@employco.com

SBA and Treasury Release New PPP Documents

Employco USA, Inc.

BULLETIN
June 18, 2020 (UPDATE)

COVID-19

On June 16th, the U.S. Small Business Administration (SBA) and the Treasury Department released a new set of forgiveness application forms and instructions to help borrowers navigate the Paycheck Protection Program (PPP) loan program. The documents incorporate the changes made through the PPP Flexibility Act passed on June 5th.

Revised PPP Loan Forgiveness Application and Instructions:

EZ PPP Loan Forgiveness Application and Instructions:

The EZ form can be used if the borrower:

  • Is self-employed with no employees; or
  • Did not reduce employee pay by more than 25%; and did not reduce the number or hours of employees; or
  • Did not reduce employee pay by more than 25%; and experienced reductions in business activity as a result of health directives related to COVID-19

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BREAKING: Supreme Court Paves Way for LGBT+ Rights in the Workplace

Employment trends expert discusses crucial ruling & what employers need to know

PrideJust in time for Pride Month, the Supreme Court has made the landmark decision to extend new protections to LGBTQIA workers. Today, the Supreme Court made changes to federal civil rights law to include additional protections to gay, lesbian and transgender workers, providing pushback to previous attempts that sought to limit the scope of Title VII of the Civil Rights Act.

“The Supreme Court ruling is being celebrated as an important step in creating a more supportive and safer workplace for millions of LGBT Americans,” says Rob Wilson, employment expert and President of Employco USA, an employment solutions firm with locations across the country.

Wilson says the new ruling is important as previous research has shown many employers have both implicit and explicit bias against transgender workers.

A recent survey led by the DC Office of Human Rights found that 48 percent of employers showed bias against hiring a transgender individual, even if the applicant was more highly qualified than others. And, nearly 90% of transgender individuals report workplace harassment, says Wilson. “And other research has shown that employers and coworkers can be hostile towards gay or lesbian workers.”

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Paycheck Protection Program (PPP) Flexibility Act Signed Into Law

Employco USA, Inc.

BULLETIN
June 05, 2020 (UPDATE)

COVID-19

Earlier today, President Donald Trump signed into law the Paycheck Protection Program (PPP) Flexibility Act of 2020, which provides borrowers with greater flexibility in spending PPP funds without compromising forgiveness eligibility.

The act, which passed with a bipartisan vote, makes the following amendments to the PPP to provide relief to borrowers:

  • Covered period extension – Extends the covered period during which borrowers must spend the PPP funds to be eligible for forgiveness from 8 weeks to 24 weeks.
  • Loan repayment terms – Extends the minimum loan term for unforgiven PPP loans from 2 years to 5 years.
  • Payroll costs vs. nonpayroll costs – Reduces the forgiveness portion of PPP funds that must be spent on payroll costs from 75% to 60%, and raises the nonpayroll cost limitation from 25% to 40%.
  • Payroll tax deferment – Permits borrowers to defer payroll taxes without being penalized while still remaining eligible for loan forgiveness.

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Illinois Employer Phase 3

Employco USA, Inc.

BULLETIN
June 02, 2020 (UPDATE)

COVID-19

On Friday, May 29, 2020, Governor Pritzker signed an Executive Order that directs Illinois employers to follow the new Department of Commerce and Economic Opportunity Phase 3 guidelines as part of their reopening process. Although the wording of the order could be interpreted to require companies follow all of the guidelines, we are awaiting additional guidance to determine which aspects are required or recommended.

The guidelines are separated by industry. Click the following links to access each industry’s guidelines:

Summary of Key Minimum Guidelines for Offices to Reopen

  • All employees should complete health and safety training related to COVID-19 when initially returning to work. Resources to design a training are posted on the DCEO Restore Illinois guidelines website.
  • Employers should make temperature checks available for employees and encourage their use. Employers should post information about the symptoms of COVID-19 in order to allow employees to self-assess whether they have any symptoms and should consider going home.

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WEBINAR: Reopening the Workplace (After the Coronavirus Shutdown)

Join Employco USA to learn the latest tips and best practices for getting your location and employees ready to return to work.

During this FREE webinar, we’ll cover:

  • Review of federal, state, and local guidance
  • Advice to assess the risk of your building and processes
  • Tips to evaluate your workforce including an identification of returning and new employees
  • Key management tasks after reopening

You’ll also be able to get some clarity on human resource issues including unemployment and payroll. Employco provides HR and payroll solutions to businesses across the country.

There will be a brief presentation to begin the session, but most of the time will be dedicated to answering your specific questions!

FREE REGISTRATION
You’ll be able to join us at 1:00pm CT on Wednesday, June 3rd from your computer, tablet, or smartphone (you can also dial-in):

REGISTER HERE

You can also use our registration form to submit questions you’d like to see answered/covered during the webinar.

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WEBINAR: New PPP Loan Forgiveness Application & How to Maximize Forgiveness

Webinar 05/28/2020

Join Employco USA to learn the LATEST UPDATE from the SBA including the NEW Paycheck Protection Program (PPP) Loan Forgiveness Application and Instructions.

During this FREE webinar, we’ll:

  • Summarize the updated guidance released on May 15th
  • Discuss the new options to setup your 8-week measurement period for payroll and non-payroll costs
  • Provide details on how to calculate a FT vs FTE employee based on the new 40 hour per week threshold
  • Discuss tips to maximize the forgiveness, and talk about the rules for the portion of the loan that is not forgiven
  • Review how the forgiveness evaluation limits owners’ compensation
  • Illustrate forgiveness reductions through updated scenarios

You’ll also be able to get some clarity on human resource issues including unemployment and payroll. Employco provides HR and payroll solutions to businesses across the country.

There will be a brief presentation to begin the session, but most of the time will be dedicated to answering your specific questions!

FREE REGISTRATION
You’ll be able to join us at 10:00am CT on Thursday, May 28th from your computer, tablet, or smartphone (you can also dial-in):

REGISTER HERE

You can also use our registration form to submit questions you’d like to see answered/covered during the webinar.

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SBA Releases PPP Loan Forgiveness Application and Instructions

Employco USA, Inc.

BULLETIN
May 18, 2020 (UPDATE)

COVID-19

The U.S. Small Business Administration (SBA) has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and Instructions. The new 11-page document includes references to “several measures to reduce compliance burdens and simplify the process for borrowers, including:”

  • Incurred or Paid – Borrowers have increased flexibility to include eligible payroll and non-payroll expenses paid or incurred during the 8-week period.
    • Payroll costs incurred but not paid during the borrower’s last pay period of the 8-week period are eligible if paid on or before the next regular pay date.
    • Non-payroll costs (e.g., utilities) can be paid on or before the next regular billing date, even if the billing date is after the 8-week period.
  • 8-week Period – Borrowers have an 8-week (56 day) period to use as the covered period.
    • The 8-week period for borrowers with semi-monthly (or less frequent) payroll will start on the same day as the PPP funds were received. Example: if funds were received on Monday, April 20, the first day of the period is April 20 and the last day is Sunday, June 14.
    • The 8-week period for borrowers with bi-weekly (or more frequent) payroll includes an alternative option. These borrowers can elect to start their 8-week period on the first day of the first pay period following the receipt of the PPP funds. Example: if funds were received on Monday, April 20 and the first day of the next pay period is Sunday, April 26, the alternative period start date would be April 26 and the last day is Saturday, June 20.
  • Full-Time / Full-time Equivalent (FTE) – Full-time employee counts are established based on a 40-hour work week. To calculate the average FTE, divide the average number of hours paid per week by 40, and round the total to the nearest tenth. The maximum for each employee is capped at 1.0. A simplified method that assigns a 1.0 for employees who work 40 hours or more per week and 0.5 for employees who work fewer hours may be used at the election of the Borrower.
  • Owner Compensation Limit – Amounts are capped at the lesser of the 8-week equivalent of their 2019 compensation for any owner-employee or self-employed individual/general partner, or $15,385 (the 8-week equivalent of $100,000) per individual. This prevents an owner from increasing his/her compensation during the 8-week period.

Over the next several days, we will release an updated list of the most frequently asked questions along with an invitation to an UPCOMING WEBINAR designed to address the new PPP application and instructions.

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