Coronavirus Resource Center

Our thought leaders are closely following the COVID-19 situation as it evolves, and are working to publish insights to keep you informed about potential business implications, including:

Continue to check back for updates and additional resources in the coming days. Sign up here to receive important information via our P&N Newsletter.

Please keep in mind that due to the quickly-changing nature of the COVID-19 pandemic, you should always discuss changes with your P&N advisor or legal counsel. If your organization needs assistance implementing or adjusting your business continuity plan, please contact us

Re-Entry & Recovery

What Could a Seasonal COVID-19 Mean for Your Organization?

Experts have warned that we may experience cyclical or seasonal spikes in COVID-19 cases for quite some time, at least until there is a vaccine. Many organizations are considering how to better prepare for continuity in daily operations and profitability in the event of future disruptions, including those unrelated to COVID-19. In this article, we outline specific areas of focus as the world moves into a recovery phase that is likely to involve many ups and downs.

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Looking Back to Plan Forward: Change as the "New" Normal

Given recent history (Hurricane Katrina, Hurricane Gustav, the Deepwater Horizon Oil Spill, the Great Floods of 2016, and the COVID-19 pandemic), we have to assume that “once in a generation” events may continue as we get back to a normal life in the Gulf South. By adjusting our perspective, we can turn these “forced changes” into productive opportunities for positive change.

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The Next COVID-19 Disruption: Return-to-Work

Just as many employers (and employees) have settled into adjusted work styles and habits, the latest disruption is here: employees are needed back at work. Before opening the doors and having an office full of confused workers clock in, employers should take some time to understand the big picture: things have changed.

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The Benefits and Challenges of Taking Your Company Remote

The advancement of COVID-19 has forced companies to test out the effectiveness of wide-spread remote work, and most have seen overwhelmingly positive results. In fact, many are considering keeping remote work policies in place indefinitely. In this article, we help you identify the challenges and benefits of sustained remote work policies.

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Maintaining Critical Accounting Function

Does your accounting function support or hinder your organization’s ability to respond quickly to disruption? As stay-at-home orders impacted normal operations, many organizations felt the strain of outdated and inflexible technology, understaffed or unavailable accounting teams, and time-consuming manual processes.

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New Considerations for Technology Infrastructure & Cybersecurity

As organizations prepare for a return to the office, most will need to adjust expectations for “business as usual.” There are many things to consider as you look ahead to re-entry and re-opening your facilities to staff and customers. In this article, we focus on key ways technology can help you adapt and prepare for this new normal.

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Internal Controls for Disaster Preparedness

Hurricane season is upon us, and it’s more important than ever for organizations to plan ahead for brief and long-term disruptions to operations in order to support continued success, particularly in light of the coronavirus pandemic. This article outlines several disaster preparedness and recovery internal controls to consider for your organization.

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Increasing Fraud Due to Coronavirus

Remote working environments, workarounds, and temporary solutions are just some of the changes that have created opportunities for fraudsters to take advantage of COVID-19 disruption. Fraud schemes will likely continue to shift and develop in the coming year, but there are actions that your organization can take today to mitigate the risk of fraud and/or reduce the impact if fraud has already occurred.

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Current and Expected State of Gulf South M&A

The impacts of COVID-19 have been felt in many areas of the economy, and the M&A market is no exception. In order to understand how deal volume may recover from the current crisis, we analyzed trends in two other major economic events in recent history: the Great Recession of 2007-2008 and the oil price collapse of 2014-2015.

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Economic Relief for Businesses

Deferring Payroll Tax Obligations: Key Considerations

In an executive memorandum, President Trump directed the Secretary of the Treasury to defer the withholding, deposit, and payment of the employee portion of payroll taxes. Much uncertainty remains about the implementation of the payroll tax deferral. As a result, employers and employees should both fully understand the consequences of engaging in the payroll tax deferral before implementing any changes to their payroll withholding system.

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CARES Act: Paycheck Protection Program

The CARES Act focuses on providing economic relief with a newly-created tool: the Paycheck Protection Program. This program expands the existing Small Business Administration loan program and allows the SBA to provide additional loans and loan forgiveness to businesses and certain individuals as a result of the COVID-19 pandemic.

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Paycheck Protection Flexibility Act: An Update to the PPP

In order to address some of the issues that make it difficult for businesses to receive the full benefits of the PPP, the House of Representatives passed the Paycheck Protection Program Flexibility Act of 2020. As this legislation moves through the Senate and further developments arise, we will update this article accordingly.

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PPP Loan Forgiveness Application

The Paycheck Protection Program Loan Forgiveness Application has been made available from the Treasury Department. In this article, we provide links to the application and related information.

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CARES Act: Update on Loan Certification and Deductibility of Forgivable Expenses

Both the SBA and the Department of Treasury issued further guidance about loan certification and deductibility of certain expenses with respect to the PPP, as described in this article. Both of these issues are under continuing scrutiny and may be subject to change. P&N will continue to monitor all relevant guidance and provide updates accordingly.

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Paycheck Protection Program and Health Care Enhancement Act

On April 21, 2020, the Senate passed the Paycheck Protection Program and Health Care Enhancement Act in order to increase funds for both the PPP program and a related SBA program, the EIDL. The main tenets of this new Act are highlighted in this article.

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Treasury FAQ Update on Paycheck Protection Program

While the Paycheck Protection Program is up and running, there are still some questions that require further clarification. On April 6, 2020, the Treasury released a new FAQ related to some of the outstanding questions, and we have summarized a few key points in this article.

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Paycheck Protection Program Forms & Fact Sheets

Application forms and fact sheets for the Paycheck Protection Program under the CARES Act have been made available from the Treasury Department. The fact sheet encourages small businesses to apply for a PPP loan as quickly as possible, since there is a funding cap on the program.

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SBA Interim Final Rule: Self-Employed Individuals

On Tuesday, April 14th, the SBA issued an interim final rule concerning how to calculate PPP loan amounts for certain self-employed individuals. Those relevant clarifications, along with provisions related to debt relief, are summarized in this article.

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CARES Act: SBA Provides Guidance on Affiliation Rules for PPP

In general, the SBA loan program affiliation rules require that certain related business entities be viewed together as one applicant when determining whether they constitute a “small business” eligible for SBA funding. In its second interim final rule, the SBA addressed the application of affiliation rules under the CARES Act.

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CARES Act: PPP Interim Guidance

Beginning Friday, April 3, 2020, the Paycheck Protection Program application process will open for most small businesses. The SBA issued an interim final rule concerning certain portions of the PPP. Those relevant clarifications are summarized here.

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CARES Act: EIDL/PPP Loan Comparison Guide

The EIDL and PPP loans each have similar and different components regarding eligibility, loan amount, use of funds, terms, and other factors. Moreover, businesses may be eligible for both loans (provided they do not use the proceeds for the same purpose). P&N has compiled a table to help you compare these loans side-by-side and determine which may suit your business needs.

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CARES Act: Economic Injury Disaster Loans

EIDLs are working capital loans available to small businesses and non-profit organizations to help them meet their ordinary and necessary financial obligations and assist them through the disaster recovery period. Under the recently-passed CARES Act, certain terms and conditions of the EIDL Program have been relaxed or expanded.

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SBA Economic Injury Disaster Loan Amount Calculations

Under the recently-passed CARES Act, the EIDL terms have been modified and loan amounts determined by the SBA may be evaluated on a case-by-case or modified basis to expedite the process. In general, the SBA has applied a multi-phase approach in determining EIDL amounts that have been historically based on the terms in this article.

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Summary: Main Street Loan Facilities

On April 9, 2020, the Federal Reserve announced details of new lending programs intended to facilitate lending by eligible banks, which may help provide funds to small and medium-sized businesses impacted by the coronavirus pandemic.

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The FFCRA & Potential Economic Relief During the COVID-19 Pandemic

On March 18, 2020, President Trump signed into law H.R. 6201. This article lists key provisions to help stabilize the country and its economy during the COVID-19 pandemic.

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Louisiana Loan Portfolio Guaranty Program

The Louisiana Loan Portfolio Guaranty Program (LPGP) hopes to provide small businesses with loans up to $100,000 to cover business expenses such as payroll expense, rent, or mortgages due to the COVID-19 pandemic. The following is a summary of relevant requirements and terms of the LPGP.

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Tax Updates

Frequently Asked Questions: Form 7200/Advance Credits

Congress has created several employment tax credits that will both help businesses retain employees and generate much-needed cash flow during this time. As a result, Form 7200 was designed to aid employers in effectively claiming these credits. This article answers several commonly asked questions with respect to this new form.

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Tax Payment and Filing Updates

As updates from the IRS and Congress are released, P&N will share important information about tax payment and filing deadlines here.

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State and Local Tax Filing Updates

P&N is vigilantly monitoring the state and local impacts of the novel coronavirus COVID-19. This page will be continually updated when new developments arise.

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CARES Act: Business Tax Provisions

While the CARES Act contains a myriad of economic and healthcare response-related provisions, this summary focuses on one aspect of the economic provisions – those provisions for business taxpayers. Learn more about the employee retention credit, increasing cash flow via the use of net operating losses, and other important relief measures.

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CARES Act: Individual Income Tax Provisions

While the CARES Act contains a myriad of economic and healthcare response-related provisions, this summary focuses on one aspect of the economic provisions – those provisions relevant to individuals. Learn more about tax rebates, advance refunds, charitable contribution changes, and other important relief measures.

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CARES Act: Retirement & Health Plan Relief

The CARES Act includes provisions that loosen retirement plan hardship and loan rules to free up funds for individuals impacted by the COVID-19 pandemic. This summary focuses on provisions relevant to retirement plans, retirement accounts, and certain health plans.

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Accounting & Assurance Updates

FASB Update

On March 22, 2020, The Financial Accounting Standards Board (FASB) issued a statement on prudential regulator guidance concerning troubled debt restructurings.

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Impairment Testing: Assessing COVID-19 Impacts on Financial Statements

Many companies within adversely-affected industries must assess how their financial statements will be impacted. As part of this process, companies will need to consider the recoverability of their property, plant and equipment, intangible assets, and goodwill.

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Compliance & Tracking Funds

Debt Forgiveness Under the Paycheck Protection Program

The main benefit of a Paycheck Protection Program loan is the ability to have the principal balance of the loan forgiven if the loan proceeds have been spent on qualifying costs. In this article, we summarize of this important debt forgiveness component.

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Oversight Provisions of the CARES Act

While monitoring and oversight activities are effective internal controls, they are also vital components to address transparency and accountability in relief programs. The CARES Act includes several oversight provisions, including those outlined in this article.

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SBA Program Loans – Internal Controls for Tracking Authorized Costs

One of the key features of a PPP loan is the potential for some or all of the funds received to be forgiven. However, not all costs spent during the covered period are subject to forgiveness. In this article, we outline how to develop processes and controls to track the use of PPP and EIDL funds.

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SBA Program Loans – Tracking Tips

In prior articles we highlighted the need for tracking authorized costs associated with the PPP and EIDL. Tracking and accounting for funds received is key to maximize opportunities for any available debt forgiveness. This article identifies procedures that can help an organization track payroll and non-payroll costs.

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Resources for Governmental Entities

Procurement During a Pandemic

Regardless of the uncertainty that the COVID-19 pandemic continues to cause for state and local governments and not-for-profit organizations, the procurement of necessary services, materials and supplies, and even property must go on. However, with federal assistance comes federal regulation.

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Louisiana Initiates Plans for the Coronavirus Relief Funds for Local Governments

Louisiana’s Division of Administration has outlined plans for administering its share of the Coronavirus Relief Fund (CRF). The State will distribute CRF assistance through several funding rounds, with the first round covering eligible expenditures related to the COVID-19 pandemic for the period March 1 - April 30, 2020.

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Louisiana’s Coronavirus Relief Funds – Second Round

Louisiana’s Division of Administration will begin accepting reimbursement applications on July 1, 2020, to administer the second round of the state’s $511 million in CARES Act Coronavirus Relief Funds.

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Louisiana’s Coronavirus Relief Funds – Supplemental Claims & Third Round

The Division of Administration is offering a round of supplemental claims for the first two funding periods, March 1 – April; 30, and May 1 – June 30. The window for filing these “catch-up” claims is August 15 – August 31, 2020. Reimbursement applications will also be accepted between October 1 – 15, 2020 to administer the third, and final, round of the state’s $511 million in CARES Act Coronavirus Relief Funds.

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Expense Reimbursement Considerations for Louisiana CARES Act Funds

In late May, Louisiana’s Division of Administration began accepting reimbursement applications to administer the first round of the State’s CARES Act Coronavirus Relief Funds. As you prepare your organization’s reimbursement application, you should keep in mind these often-overlooked potentially eligible expenditures.

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Preparing to Receive Federal Grant Awards

If your organization will receive additional grant funds for existing programs or for one of the newly-created programs, it is important to review your processes and procedures and determine whether to change them or implement new ones to properly administer and account for these federal grants. A few of the important areas to focus on are summarized in this article.

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GASB Postpones Effective Dates of Certain Pronouncements

In response to the COVID-19 pandemic, the Governmental Accounting Standards Board (GASB) issued Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance, that delays the effective dates of many GASB Statements and Implementation Guides that were soon to be implemented by state and local governments.

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State & Municipal Aid for Recovery & Transition (SMART) Fund

If enacted, the bipartisan State and Municipal Aid for Recovery and Transition (SMART) Fund would create a $500 billion fund to help states and local governments respond to the current public health and economic crisis while maintaining essential services.

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CARES Act: Funding for State & Local Governments

As part of the declaration of the COVID-19 pandemic as a national emergency, the CARES Act makes funding available to state and local governmental entities through a variety of programs. The primary mechanisms through which financial assistance will be provided include increased funding to existing programs and grants, funding through the Coronavirus Relief Fund, and direct loans, as further detailed in this article.

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Coronavirus Relief Fund: Questions and Answers

The CARES Act authorized $150 billion for the Coronavirus Relief Fund (CRF) intended to assist state and local governments with the cost of the COVID-19 pandemic. The Department of the Treasury has released guidance and an FAQ related to clarifying the CRF.

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LLA Releases COVID-19 FAQs for Local Governments

The Louisiana Legislative Auditor has offered legal guidance in the form of an FAQ document covering many questions and concerns local governments may have during the COVID-19 emergency conditions.

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CARES Act: Emergency Grants for Airports

In addition to providing assistance for small businesses, healthcare, and higher education, the CARES Act also provides emergency appropriations for airports and airport sponsors. This article summarizes key considerations related to eligibility, fund availability and use, allocation of funds, and more.

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GASB to Consider Delay of Standards and Implementation

The Governmental Accounting Standards Board (GASB) announced that it is considering delaying the effective dates of all Statement and Implementation Guide provisions with an effective date starting on or after reporting periods beginning after June 15, 2018 as a result of the disruption caused by the COVID-19 pandemic.

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Short-Term Administrative Relief for Federal Grant Recipients

The Office of Management and Budget (OMB) issued memorandum M-20-17, authorizing federal awarding agencies to take certain actions to provide short-term relief to federal grant recipients affected by COVID-19.

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Elements of Internal Control

Federal, state, and local grants and awards related to the coronavirus pandemic will likely continue to be made available. As awards or grants are received and funds disbursed, internal controls should be at the forefront of decision making and embedded in an entity’s activities and processes.

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Oversight Provisions of the CARES Act

While monitoring and oversight activities are effective internal controls, they are also vital components to address transparency and accountability in relief programs. The CARES Act includes several oversight provisions, including those outlined in this article.

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COVID-19: Financial Impacts & Initial Actions for Governmental Entities

As our country and communities navigate the health and business implications of the COVID-19 virus, governmental entities must take appropriate measures to mitigate the financial impacts of this pandemic. This article outlines some of the first actions to consider.

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Compensating Public Entity Employees - LA Attorney General Opinion

The Louisiana Constitution generally prohibits public entities from the donation of public funds or the use thereof without receiving public value in exchange. Attorney General Jeff Landry provided an opinion as to the constitutionality of compensating public employees due to the COVID-19 pandemic in response to the Louisiana Legislative Auditor’s request for clarification.

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Resources for Healthcare Organizations

Telehealth: How to Assess Your Readiness

In the months of March and April 2020, as providers began to experience disruptions related to COVID-19, there was a significant expansion of telehealth. With patient and healthcare consumer expectations quickly shifting, it’s imperative that providers develop thoughtful strategies for delivering telehealth services. This article and brief survey will help gauge your practice’s readiness for the future.

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Funding Options for Healthcare Organizations

Healthcare facilities are at the forefront of the current COVID-19 pandemic in the United States, in multiple ways. With most organizations cancelling elective procedures and facing declines in revenue, healthcare financial teams have been closely managing cash flow projections. There are currently two immediate cash-infusion options available from the federal government that healthcare organizations should take into consideration.

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Documenting COVID-19-Related Expenses & Lost Revenues for Healthcare Organizations

With the Paycheck Protection Program and Health Care Enhancement Act, additional relief funding was made available to reimburse eligible hospitals, health systems, and other providers for healthcare-related expenses or lost revenues not otherwise reimbursed that are directly attributable to COVID-19. With the receipt of funds, it is imperative for healthcare providers to track, monitor, and record cash, expenses, and lost revenues associated with the pandemic.

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HHS Portals & Resources

With the additional funding resources made available to healthcare providers in the United States through the CARES Act, management and financial officers within these entities are being tasked with providing updates to the federal government. In order to assist providers in locating important information quickly, P&N has compiled a list of current portals available.

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CARES Act: AHA Urges HHS and CMS to Distribute Funds

Hospitals and health care providers are balancing patient care with financial and operational challenges during the coronavirus pandemic. The American Hospital Association released a letter asking for timely and crucial support by distribution of CARES Act funds directly to providers.

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How Healthcare Facilities Can Treat the Financial & Operational Symptoms of the Pandemic

The COVID-19 pandemic presents numerous challenges for hospitals, specialty hospitals, rural hospitals, private physician practices, and other types of providers, including declines or shifts in revenues, operations management, staffing and supply shortages, and navigating potential opportunities.

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How Healthcare Finance Leaders Can Enhance Business Agility

There are countless circumstances that healthcare finance leaders cannot change, but insight into a growing breadth of financial and operational data can empower you to gain more control through data-based decisions. In this article, we focus on three key factors that can help your team become more data-driven.

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Insights for Non-Profits

Not-for-Profit Fundraising Events: Accounting Considerations

Like other businesses, many NFPs had to abruptly shift to remote working arrangements and review operating cash flows, however they have also had to cancel or delay major fundraising events. We have identified some key accounting guidance you should consider as you prepare to account for canceled and delayed events.

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CARES Act: Charitable Contributions

While the CARES Act contains a myriad of economic and healthcare response-related provisions, this summary focuses on one aspect of the economic provisions – those provisions relevant to non-profits and charitable contributions.

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CARES Act: SBA Provides Guidance on Affiliation Rules for PPP

In general, the SBA loan program affiliation rules require that certain related business entities be viewed together as one applicant when determining whether they constitute a “small business” eligible for SBA funding. In its second interim final rule, the SBA addressed the application of affiliation rules under the CARES Act.

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SBA Issues FAQs for the Participation of Faith-Based Organizations in PPP & EIDL

An interim final rule issued by the Treasury clarified that churches, conventions or associations of churches, or other faith-based organizations are eligible for the federal stimulus package. In response, the SBA issued an FAQ for these organizations regarding participation in the PPP and EIDL programs.

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Crisis Resources for Businesses

Top 5 IT Challenges Related to COVID-19

Many companies are experiencing multifaceted challenges as business interruption, stress, and remote work at scale are compounded by cyber attacks that take advantage of the confusion and fast-paced change. In this article, we identify five common IT issues our cybersecurity team has encountered throughout the pandemic and outline ways to address the risk.

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Cash Flow Management During a Crisis

During this time of crisis, business leaders should be thinking differently about managing their cash flow. The following is an overview of recommended steps to help shift your company’s perspective. We have also created a free Excel template to assist you in assessing and refocusing your cash flow management.

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Issuing Equity-Based Compensation

With many companies experiencing reduced levels of cash flow, it may be time to consider a shift in the way employees and key personnel are compensated. Read on to learn about the advantages of equity-based compensation compared to cash compensation, and explore several commonly-used forms of equity compensation.

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Internal Controls During Times of Crisis

As we all adjust to the changes presented in both our personal and professional lives as a result of the coronavirus pandemic, there is likely to be a significant impact to your organization’s internal control structure. As business processes are disrupted and key personnel may be unavailable, organizations need to identify internal control adjustments to respond.

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Elements of Internal Control

Federal, state, and local grants and awards related to the coronavirus pandemic will likely continue to be made available. As awards or grants are received and funds disbursed, internal controls should be at the forefront of decision making and embedded in an entity’s activities and processes.

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COVID-19 Resources for Employers & Employees

Public officials and healthcare professionals are working swiftly to respond to and combat the COVID-19 threat that has impacted people and industries worldwide, including the business community and employees. To help you navigate the search for information related to human resources and employee questions, P&N’s HR Consulting team has compiled links to several key resources.

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Employee Resources: Applying for Unemployment Due to COVID-19

Many employees’ worlds have been flipped upside down due to the impacts of COVID-19, and the DOL reports the highest level of unemployment claims since 1982. In this article, we provide a basic guide to help employees navigate through the process of filing for unemployment through the Louisiana Workforce Commission.

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COVID-19 Triggers Furlough Considerations

Due to the financial impact of social distancing and office closures related to COVID-19, many companies are searching for ways to manage their workforce with reduced revenues. Furloughs are topping the list of possible solutions. Employers should take into account several key factors prior to taking action.

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New I-9 Form and COVID-19 Requirements

As of May 1, 2020, all employers must use the new version of the I-9 Form (10/21/19). To assist you in understanding the changes associated with the new form, we have summarized the highlights in this article.

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Updated Form I-9 Compliance Requirements Amid Pandemic

On March 20, 2020, the Department of Homeland Security (which oversees USCIS) announced flexibility in requirements related to form I-9 compliance. While DHS rules are generally inflexible, especially when it comes to the I-9 form, during unprecedented times, DHS and USCIS are taking unprecedented measures.

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Emergency Preparedness: Cross-Department Collaboration During a Pandemic Event

Organizations face overwhelming challenges to adapt emergency preparedness plans in an unprecedented situation. Whether you have a robust COVID-19 response plan or are just getting a handle on things, there are key actions you and your organization can take now to get your workforce up to speed and protect both employees and the bottom line. 

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Remote Work Insights

Support Your Remote Workforce with Electronic Accounts Payable

Utilizing a cloud-based accounts payable system has allowed many organizations to gain more control over the payables process, increase team productivity, reduce the use of paper checks, and better manage cash flow, even while working remotely.

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Navigating Remote Work Policies During the COVID-19 Pandemic

Remote work policies are being crafted and implemented quickly as the spread of COVID-19 leads to a need for increased social distancing. Employers who have never considered a remote work arrangement or thought it was impossible for their organization are now evaluating how to implement a remote work policy. Before you change what you have or start something new, consider these critical factors.

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The Benefits and Challenges of Taking Your Company Remote

The advancement of COVID-19 has forced companies to test out the effectiveness of wide-spread remote work, and most have seen overwhelmingly positive results. In fact, many are considering keeping remote work policies in place indefinitely. In this article, we help you identify the challenges and benefits of sustained remote work policies.

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Working Securely When Working From Home

Working securely, as with anything in information security, starts with you. There are always bad actors who will take advantage of a situation, especially when individuals are rushed and stressed. A few simple steps and your ongoing vigilance can thwart many wide-reaching cyber attacks.

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Securing Virtual Meetings

The US National Institute of Standards and Technology (NIST) has published guidelines for companies to follow when employing a remote workforce, specifically related to protecting privacy while leveraging online collaboration tools to host virtual meetings while responding to the current COVID-19 pandemic.

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Collaboration Resources for a Suddenly-Remote Workforce

To aid organizations in response efforts and accommodate a surge in remote workers, many of our vendor partners are offering free or enhanced versions of software and services. This article lists a few of the useful services and software licenses available to companies and individuals during the COVID-19 outbreak.

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COVID-19 Sparks a Shift Toward Remote Work

Allowing employees to work outside the office for an extended length of time requires more planning and technology support than an occasional work-from-home day. In this article, we outline several key infrastructure considerations. With the right technology and communication tools, you can limit your employees’ exposure to COVID-19 while minimizing the impact on productivity.

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Webinars

 

 

Accounting for PPP Loan Forgiveness

This webinar took place on September 17, 2020.

While the PPP loan program has helped many organizations during the economic disruption caused by the COVID-19 pandemic, it does require careful accounting, especially as organizations begin to submit loan forgiveness applications to their lenders. Join Chad Becnel and Brandon Lagarde for this webinar as they provide an overview of the accounting and financial reporting for PPP loan forgiveness for both lenders and borrowers under generally accepted accounting principles (GAAP), as well as consideration of the tax implications under current tax law. Click here to download the presentation slides.

Watch the Recording

 

Louisiana’s Coronavirus Relief Funds - What Local Governments Need to Know

This webinar took place on August 13, 2020.

Louisiana’s Coronavirus Relief Funds remain available for distribution to general local governments in Louisiana. This webinar will cover the available relief funds for local governments. Join Freddy Smith, Tommy Naquin, and Don McLean to learn more about these funds and and how to claim allowable expenditures.

Watch the Recording

 

Navigating Financial Distress and Bankruptcy in the Age of COVID-19

This webinar took place on August 11, 2020.

As the economic impact from COVID-19 continues to create uncertainty in traditional business models, companies are focused on determining a strategy to navigate the coming months. As liquidity options may start to dry up, it is important to have a fundamental knowledge of available contingency plans, including debt waivers, restructurings, and potentially bankruptcy. Bankruptcy can be a powerful tool which allows a business to reorganize its’ operations for future success. Included is the new Subchapter V bankruptcy for small businesses which was enacted in February 2020. This presentation will help provide a basic knowledge of these options and impact to your company’s operations and financial reporting. Join P&N presenters JP Luster and Bowen Dennis along with Ryan Richmond, Subchapter V Bankruptcy Trustee and Partner at Sternberg, Naccari, & White, LLC. Click here to download the presentation slides.

Watch the Recording

 

Paycheck Protection Program Flexibility Act and Revised Application Process

This webinar took place on June 29, 2020.

Congress passed the Paycheck Protection Program Flexibility Act of 2020 to provide necessary flexibility to borrowers that received funds under the Paycheck Protection Program of the CARES Act. The Small Business Administration has been active over the past several weeks modifying existing rules and regulations and adopting new rules and regulations in order to implement the changes made by the Paycheck Protection Program Flexibility Act. In addition, the Small Business Administration issued a simplified loan forgiveness application for those borrowers that meet certain criteria in an attempt to make it easier for these borrowers to seek forgiveness when the time comes to ask for forgiveness. This webinar navigated the numerous and complicated changes made to the PPP. Click here to download the presentation slides.

Watch the Recording

 

I-9 Process Requirements and COVID-19 Exceptions

This webinar took place on June 18, 2020.

As COVID-19 disruption continues to impact businesses of all shapes and sizes, the next wave may catch many employers by surprise: having the Department of Homeland Security (DHS) drop in as your first customer. With DHS ramping up I-9 audits in response to the past few months’ “relaxed” requirements, I-9 compliance should be at the top of everyone’s compliance checklist, which is no easy task for those who are unaware of the requirements and nuances involved. Taking time now to identify problems and make adjustments may better position your organization to manage non-compliance and reduce fines and penalties in the event of an I-9 audit. This webinar covered I-9 requirements and COVID-19 exceptions before DHS comes calling.

Watch the Recording

 

CARES Act Payroll Tax Credits and Other Tax Opportunities

This webinar took place on June 4, 2020.

As both individuals and business taxpayers continue to operate in a world affected by the COVID-19 global pandemic, there are many potential economic concerns affecting all facets of commerce. Congress enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide immediate relief from the effects of COVID-19, largely in the form of a potentially forgivable loans administered by the Small Business Administration. As businesses move into the next phase of recovery, however, the CARES Act offers other ways in which to generate cash flow and help individuals and businesses negatively affected by the COVID-19 pandemic. Click here to download the presentation slides.

Watch the Recording

Borrower Considerations for the PPP Loan Forgiveness Application

This webinar took place on May 20, 2020.

The highly anticipated loan forgiveness application has been released by the Small Business Administration for businesses with loans under the Paycheck Protection Program (PPP) under the CARES Act. Join Brandon Lagarde and Ben Vance for this webinar to learn what you need to know about the application and how to begin preparing to complete the application. Click here to download the presentation slides.

Watch the Recording

 

Support your Remote Workforce with Electronic Accounts Payable

This webinar took place on April 21, 2020.

In response to uncertainties presented by global, national or local issues, many organizations have made the shift to working remotely. Cloud-based accounts payable systems have allowed companies to gain more control over the payables process, increase productivity, reduce the use of paper checks and better manage cash flow. Join Skye Duhon and Karen Penhallegon for this webinar to understand how you can support business continuity and daily operations through the adoption of electronic accounts payable.

Watch the Recording

 

Debt Forgiveness Preparedness Under the PPP

This webinar took place on April 16, 2020.

In response to the impacts of COVID-19, many businesses are filing for loans with the Paycheck Protection Program (PPP) under the recently passed CARES Act. The main benefit of a PPP loan is the ability to have the principal balance of the loan forgiven if the loan proceeds have been spent on qualifying costs. Join Ben Vance and Brandon Lagarde for this webinar to learn the latest guidance issued on the PPP and steps your business should take to begin preparing for debt forgiveness. Click here to download the presentation slides.

Watch the Recording

 

COVID-19 Impacts and Considerations for Governmental Entities

This webinar took place on April 9, 2020.

As the COVID-19 virus continues to unfold, governmental entities are facing unique challenges while navigating the impacts of the pandemic. This webinar discussed the following key considerations for governmental entities: CARES Act: An overview of the Act and programs affecting governmental entities, Internal controls: Internal control concepts and CARES Act oversight provision, Accounting and auditing update: Reporting requirements and how to prepare for audit implications, Operational considerations: Cash flow, budget, and remote workforce issues. Click here to download the presentation slides.

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COVID-19 Tax Impacts and Opportunities for Businesses and Individuals

This webinar took place on April 7, 2020.

On March 27, 2020, Congress passed, and President Trump enacted, the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide emergency health care and economic assistance during the COVID-19 global pandemic. This legislation addresses a range of concerns including provisions related to economic relief for businesses as well as relief for individuals. This webinar covers tax impacts and opportunities related to the CARES Act that individuals and business owners should consider. Click here to download the presentation slides.

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Paycheck Protection Program – Interim “Final” Rule

This webinar took place on April 3, 2020.

The Small Business Administration issued an interim final rule regarding the application of the Paycheck Protection Program that opened for applications on April 3, 2020. There are many key considerations that businesses should be aware of when filing an application for this program. This webinar covers the latest information on the Paycheck Protection Program and actions that your business should consider. Click here to download the presentation slides.

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Navigating COVID-19 Relief Resources for your Business

This webinar took place on March 31, 2020.

The COVID-19 crisis is significantly impacting small businesses. New programs and relief measures are becoming available to business owners, and P&N's advisors are here to help you navigate relief opportunities and resources. This webinar covers the latest information about: U.S. Small Business Administration loan programs, Federal and state tax deferral programs, and Business planning resources. Click here to download the presentation slides.

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