COVID-19 Resources for Businesses and Employers

Our professionals continue to proactively advise clients on COVID-19 issues. We’ve gathered important COVID-19 business and employer resources to help you stay abreast of issues and directly access the most reliable sources. We will keep this page updated as changes occur. You can also stay up-to-date via our BLOG.

DISASTER LOAN ASSISTANCE

Small Business Administration (SBA) Funding for Small and Medium-Sized Businesses. There are two programs available to help businesses with disaster relief – the revised Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP). Both programs can be used; however they are not intended for the same purpose. Additional conditions and amendments may apply.

PAYCHECK PROTECTION PROGRAM

The PPP program ended May 31, 2021. The below links are for information only.

The Consolidated Appropriations Act of 2021 includes additional PPP loan funding. We encourage borrowers to consult with their accountant for proper calculations and proceeds usage per PPP application and forgiveness criteria. The below links are to assist with general information only.

• First Draw PPP Loan Details
• Second Draw PP Loan Details
• PPP Loan Forgiveness Details, Forms, and FAQs

There are three PPP Loan Forgiveness Application forms: SBA Form 3508, SBA Form 3508EZ, and SBA Form 3508S. Borrowers should check with their lender to ensure they have the most recent PPP loan forgiveness application and instructions. Your Lender can provide further guidance on how to submit the application.

The SBA has launched a streamlined application portal to allow borrowers with Paycheck Protection Program loans of $150,000 or less through participating lenders to apply for forgiveness directly through the SBA. Your lender must be participating in this program in order for you to apply for direct forgiveness using the SBA portal. If your lender is not participating in the portal program, you must still apply for forgiveness through your lender. The questions asked on the forgiveness form in the portal correspond to those asked on SBA Form 3508S.

• Interim Final Rules
  • Treatment of Owners and Forgiveness of Certain Nonpayroll Costs
  • Additional Revisions to Loan Forgiveness and Loan Forgiveness Procedures (loans $50,000 and less)
  • Interim Final Rule on Paycheck Protection Program as Amended by Economic Aid Act (originally posted 1/6/2021)
  • Interim Final Rule on Second Draw Loans (originally posted 1/6/2021)
  • Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (originally posted 1/19/2021)
  • Interim Final Rule on Loan Amount Calculation and Eligibility (originally posted 3/3/2021)

ADDITIONAL RESOURCES

• SBA PPP Loan Information and Forgiveness – ALL PPP Program Links
• Other SBA Programs and Resources Page

SBA EIDL LOAN PROGRAM

The EIDL program for COVID-19 funding ended on December 31, 2021. Access prior EIDL application and information HERE.

TAX DEADLINES AND PAYMENT EXTENSIONS

Colorado and other states have issued guidance on both tax filing and payment relief. Here are the summaries.

FEDERAL AND STATE RELIEF PROVISIONS

FEDERAL

• IRS News Release Updates – This link provides updates and guidance for Coronavirus tax relief and Economic Impact Payments
• The American Rescue Act of 2021 – This link provides the full text of the House bill. For a summary, click HERE.
  • Shuttered Venue Operators Grant (SVOG) –  This program is now closed to new applicants; however, SBA is providing additional supplemental SVOGs for those who received original SVOG grants.
  • Restaurant Revitalization Fund – This program is now closed.
• The Consolidated Appropriations Act of 2021 – This link provides the full text of the House amendment. For a summary, click HERE.
  • The Employee Retention Credit for 2020 and 2021
• IRS Economic Impact Payments (aka Stimulus Payments) – This link provides information and FAQs for the first, second and third rounds of stimulus payments and 2020 Recovery Rebate Credit. NOTE – If you received Economic Impact Payments (EIPs) or advance Child Tax Credit (CTC) payments in 2021, expect to hear from the IRS in January. Letters will be mailed, listing the total EIPs or CTC payments you received. Keep the letters with your tax records and provide to your accountant for tax filing. Depending on your eligibility, you may be able to claim an additional EIP, called a Recovery Rebate Credit, on your 2021 tax return (even if you don’t usually file). If you received advance CTC payments, compare the amount received with the total you qualify to claim. If you were overpaid or underpaid, you may have to repay the excess on your return or claim a credit for the difference. Here’s more: https://bit.ly/3GlPawW
• Families First Coronavirus Response Act – This link includes information about common issues employers and employees face when responding to COVID-19, and its effects on wages and hours worked under the Fair Labor Standards Act (FLSA), job-protected leave under the Family and Medical Leave Act (FMLA), and paid sick leave and expanded family and medical leave under the Families First Coronavirus Response Act (FFCRA).
  • For Employers: Employer Paid Leave Requirements
    • FAQs  regarding FFCRA
    • FAQs regarding FFCRA Tax Credits for Small and Midsize Businesses

• COLORADO DEPARTMENT OF LABOR & EMPLOYMENT (CDLE) – This site provides a variety of resources for workers and employers who are impacted by the Coronavirus. Here is some helpful information for those seeking unemployment or employers with questions from employees:
  • For Employers, additional resources from CDLE can be accessed HERE.
  • For Employees click HERE for information on unemployment benefits and how to file an unemployment claim.
• Colorado Healthy Families & Workplaces Act (HFWA) webinar hosted by Autopaychecks and presented by Employment Law Attorneys Michael Santo and Alicia Severn of Bechtel Santo & Severn. Access the webinar HERE and the slides HERE.