COVID-19 Resource Center

The IRS has provided additional guidance for employers claiming the employee retention credit on qualified wages paid in Q3 and Q4 of 2021.

The Child Tax Credit has been expanded by the American Rescue Plan Act to provide select taxpayers with increased payments and broadened eligibility.

Initially created in March 2020 as part of the Coronavirus Aid, Relief, and Economic Security Act, the employee retention credit (ERC) has been extended and expanded in recent months – first by the Consolidated Appropriations Act, 2021, and then by the American Rescue Plan Act of 2021. The IRS conti...

The IRS issued Notice 2021-21 and an accompanying news release on March 29, 2021. The notice does extend a few additional tax deadlines from April 15 to May 17, but this deadline extension remains very limited in scope.

On the heels of the recently enacted federal deadline change, yesterday the Indiana Department of Revenue announced important income tax filing and payment extensions related to upcoming deadlines. The extensions are designed to provide additional relief for individual taxpayers in light of the ongo...

On the heels of the recently enacted federal deadline change, the New York State Department of Taxation and Finance announced important income tax filing and payment extensions related to upcoming deadlines. The extension is designed to provide additional relief for individual taxpayers in light of ...

The IRS announced that the federal tax deadline for certain taxpayers has been extended from April 15, 2021, to May 17, 2021.

On March 11, 2021, President Biden signed into law the latest round of stimulus legislation, known as the American Rescue Plan Act of 2021 (ARPA).

As Indiana businesses continue to look for ways to mitigate the effects of COVID-19, surprising solutions might be found in their property tax bills. KSM’s property tax practice leader, Chad Miller, answers frequently asked questions in the real property arena and provides insight into potential savings opportunities.

On March 1, the IRS issued guidance regarding various aspects of claiming a retroactive Employee Retention Credit (ERC) for 2020.

The Consolidated Appropriations Act, 2021, signed into law Dec. 27, 2020, is an omnibus bill that includes an array of changes and updates to the prior COVID-19 relief legislation. One such update includes the expansion of the payroll tax credit known as the Employee Retention Credit (ERC).

On Dec. 27, 2020, the president signed into law the Consolidated Appropriations Act, 2021. This massive piece of legislation includes a $900 billon COVID-19 relief package that provides additional assistance for small businesses, extends unemployment insurance benefits, delivers stimulus checks to i...

The latest round of economic stimulus legislation is included within the Consolidated Appropriations Act, 2021. This is a massive piece of legislation that includes all manners of government funding, expansion of the PPP, additional unemployment insurance benefits, and more.

There can be no doubt that 2020 has been a year codified by unrest and uncertainty. It has been a difficult year, and the IRS did no favors opining that deductions, which support Paycheck Protection Program (PPP) forgiveness, were not deductible.

On Saturday, Aug. 8, President Trump signed four executive actions meant to provide economic relief in the midst of COVID-19. In one such action, the president directed the Secretary of the Treasury to defer collection of the employee portion of the Social Security tax (6.2%). The deferral will only...

The fallout of COVID-19 continues to strain the investment community, and Qualified Opportunity Zones (QOZs) are no exception. The IRS provided initial relief for the QOZ community in April, extending (for many investors) the 180-day period to invest capital gains until July 15, 2020. This week, the...

Businesses that did not receive a forgivable loan under the Paycheck Protection Program (PPP), including business that repaid their PPP loan by May 18, 2020, may be able to find economic relief by claiming the Employee Retention Credit. The Employee Retention Credit is a payroll tax credit available...

The Internal Revenue Service (IRS) has provided guidance in Revenue Procedure 2020-20 related to nonresident alien individuals and their ability to claim a medical condition travel exception to the substantial presence test. This is critically important because the substantial presence test controls...

From suspending tax filing bills, extending deadlines, and allowing flexibility in determination of nexus, the Indiana Department of Revenue (DOR) continues to respond to the COVID-19 crisis with relief options for Hoosier taxpayers. Today the department announced additional tax filing and payment d...

On April 30, the IRS issued Notice 2020-32, which states that the expenses that provide the basis for loan forgiveness under the Paycheck Protection Program (PPP) will be non-deductible. While the Coronavirus Aid, Relief, and Economic Security (CARES) Act specifically excludes the loan forgiveness a...

In a continued effort to respond to the economic difficulties brought on by COVID-19, yesterday Indiana Gov. Eric Holcomb signed Executive Order 20-23. The order automatically extends business personal property tax return and related compliance filings until June 15, 2020.

On April 9, 2020, the Internal Revenue Service (IRS) issued Revenue Procedure 2020-24. The purpose of the Revenue Procedure is to provide guidance related to Section 172(b)(1)(D) of the Internal Revenue Code, which was created as a part of the Coronavirus Aid, Relief, and Economic Security Act (CARE...

In recent weeks, the Indiana Department of Revenue (DOR) has responded to the COVID-19 crisis with multiple relief options for Hoosier taxpayers. Some of the more widely covered options include suspension of most tax filing bills and flexibility in determination of nexus. But there are others that s...

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides sweeping economic relief to businesses and individuals. Included in that relief is a collection of tax provisions designed to incentivize employee retention, help maintain cash flow, and put money into the hands of individual taxpayers.

America’s workforce is reeling from the impact of the COVID-19 outbreak, but employers can help mitigate the effects through tax-deductible qualified disaster payments to employees. These payments are available under Internal Revenue Code Section 139, which was enacted after the Sept. 11 attacks. Wh...

It has been a tumultuous few weeks for the United States (and around the world) as we continue to deal with the ongoing COVID-19 emergency. There have been many questions from taxpayers who are wondering how to move forward, specifically regarding how and when to file their 2019 tax returns.

The initial uncertainties brought by the outbreak of COVID-19 are now manifesting themselves in the business community as cash flow issues, financing pressure, and even threats to business continuity. To help mitigate the economic impact of this crisis, the federal government has provided payroll re...

The New York State Department of Taxation and Finance (DOTF) has announced important income tax filing and payment extensions related to upcoming deadlines. The April 15 deadline for returns and estimated payments has been extended to July 15, 2020, for individuals, estates, trusts, and corporations...

Just before midnight on March 25, the Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation, which would provide $2.2 trillion in economic relief to businesses and individuals affected by the COVID-19 pandemic, is now headed to the House for a vote.

On March 20, the IRS, the Treasury Department, and the Labor Department announced preliminary guidance (via IR 2020-57) for claiming the new payroll tax credits provided under the Families First Coronavirus Response Act. The Treasury Department subsequently released FAQs on March 31, providing furth...

On March 20, the IRS extended the federal income tax filing deadline to July 15, in order to provide tax relief to those affected by the COVID-19 pandemic. This means that individuals, trusts, estates, corporations, and other non-corporate tax filers, including those who pay self-employment tax, wil...

Yesterday, the Indiana Department of Revenue announced important income tax filing and payment extensions related to upcoming deadlines. The April 15 deadline for returns and estimated payments has been extended to July 15, 2020. In addition, Gov. Holcomb signed a number of executive orders geared t...

President Trump signed the Families First Coronavirus Response Act into law March 18, providing additional economic relief to those affected by the COVID-19 pandemic. The Act contains provisions for paid leave for employees, tax credits for business owners, COVID-19 testing, unemployment insurance, ...

On March 18, the Internal Revenue Service issued Notice 2020-17, which provides additional details and important clarifications related to the extended tax payment deadline. In particular, the notice clarifies that the extended tax payment deadline applies to both 2019 balance-due payments and 2020 ...

On March 17, Treasury Secretary Steven Mnuchin announced changes to the tax payment deadline for individuals and corporations due to the COVID-19 outbreak. However, the tax filing deadline of April 15 remains unchanged at this time.

The pandemic has significantly complicated the world of site selection and economic incentives.

Indiana recently expanded the Indiana Small Business Restart Grant by broadening eligibility and increasing the maximum amount.

The U.S. Small Business Administration (SBA) and Treasury recently released two interim final rules (IFRs) related to the Consolidated Appropriations Act, 2021 (CAA). The Interim Final Rule on Paycheck Protection Program as Amended by Economic Aid Act (Original PPP IFR) consolidates the interim fina...

The Consolidated Appropriations Act, 2021, provides an opportunity for grants to shuttered venue operators, including live venue operators, theatrical producers, performing arts operators, nonprofit museums, and others. These grants are available to nonprofit and for-profit venues and will be admini...

As the Paycheck Protection Program has evolved, borrowers have become increasingly anxious as program parameters have seemingly changed mid-stride. With its recent introduction of the loan necessity questionnaires, the U.S. Small Business Administration continues to surprise borrowers with new requi...

If you’re thinking about selling your business right now, you’re not alone. The pandemic has added to the sense of urgency for owners who were already inclined to sell, and it probably has many others, who were previously uninterested in selling, wondering if now might be the right time.

Late last week, the U.S. Small Business Administration and the Department of the Treasury issued an interim final rule (IFR) that simplifies loan forgiveness for borrowers that received Paycheck Protection Program (PPP) loans of $50,000 or less. It’s important to note that the IFR did not make forgi...

Over the past several months, proper management of the Paycheck Protection Program (PPP) loan has become a critical issue during transactions. Sellers and buyers, eager to move their deals along, were left wondering whether the PPP loan should be repaid and what, if any, notifications or approvals w...

The U.S. Small Business Administration (SBA) officially opened the Paycheck Protection Program (PPP) forgiveness application portal to lenders on Aug. 10, 2020. Some banks are accepting applications and borrowers are beginning to prepare loan forgiveness applications. Recent guidance provides signif...

COVID-19 has disrupted businesses of all sizes and in every industry in ways that were unimaginable even six months ago. From rapid shifts in the customer experience to forced evolution of internal processes and procedures, no operational area has gone unscathed. Service organizations with System an...

As companies adjust to their new normal under COVID-19 and most put revenue recognition accounting implementation in their rearview mirror, lease accounting arises once again as a hot topic. Businesses have either already implemented the largest overhaul in lease accounting in decades, Accounting St...

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, provided multiple forms of relief for owners of retirement accounts. The IRS has recently issued additional guidance on these provisions via Notice 2020-50 and Notice 2020-51, providing even further relie...

The financial downturn caused by COVID-19 marks an abrupt end to one of the longest periods of consistent economic growth in U.S. history. In the span of just a few months, every decision has taken on much greater significance, and the margin for error has dwindled down to the thinnest of cushions. ...

With nearly $130 billion of funding remaining in the Paycheck Protection Program (PPP), last week Congress unanimously approved an extension of the application deadline. The extension was signed into law by President Trump over the weekend and gives borrowers until Aug. 8 to apply for the loan.

This year, as the COVID-19 pandemic has upended our lives, our attention is focused on the wellbeing of our families and loved ones. Because their futures are our top priority, there may be no better time than now to begin estate planning.

The long-awaited Main Street Lending Program (MSLP) is now underway. The Federal Reserve opened lender registration on June 15 and encouraged lenders to begin making Main Street program loans as soon as possible upon registration, though the Federal Reserve is still expanding the infrastructure need...

The Paycheck Protection Program (PPP) authorized the Small Business Administration to guarantee loans that can be forgiven if certain conditions are satisfied. There has been plenty of uncertainty related to the intent, qualifications, and financial reporting related to PPP loans. The AICPA recently...

On June 5, the Paycheck Protection Program Flexibility Act of 2020 was signed into law. The new law significantly changes the Paycheck Protection Program (PPP) by giving borrowers more time to use funds, extending the time to satisfy safe harbors, relaxing payroll requirements, and more.

The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP).

Over Memorial Day weekend, the U.S. Small Business Administration (SBA) released interim final rules on Paycheck Protection Program (PPP) loan forgiveness and loan review procedures. While the guidance confirms some previous expectations, it also includes new clarification on wages, forgiveness redu...

The House passed the Paycheck Protection Program (PPP) Flexibility Act on May 28, 2020. The bill received an overwhelming bipartisan vote and is now headed for the Senate.

Over Memorial Day weekend, the U.S. Small Business Administration (SBA) issued the interim final rule on Paycheck Protection Program (PPP) loan forgiveness. Many of the rules were consistent with our expectations after reviewing the forgiveness application, which was issued one week prior, but the g...

COVID-19 does not discriminate, and it has impacted all sectors of the nation’s economy. But certain industries are being affected more than others, maybe none more so than not-for-profits. Why does this sector matter – especially now – and what should the business community be doing to help preserv...

The lack of guidance related to Paycheck Protection Program (PPP) loan forgiveness has been the genesis of exacerbated frustration in the tax and business communities over the last several weeks. While the Small Business Administration (SBA) has still not released authoritative guidance clarifying c...

Late yesterday, the Small Business Administration (SBA) extended the Paycheck Protection Program (PPP) loan repayment deadline from May 14 to May 18, 2020. This is the second extension granted by the administration. The original repayment deadline was May 7, 2020. Additional information can be found...

The Small Business Administration (SBA) has just released new guidance regarding the good-faith certification for Paycheck Protection Program (PPP) loans. This guidance, which was added as question #46 to the PPP FAQs, should come as welcome relief to many businesses that took out PPP loans and have...

On May 5, 2020, the Small Business Administration (SBA) added question #43 to the Paycheck Protection Program (PPP) FAQs: In the response, the SBA officially extended the PPP loan repayment deadline from May 7 to May 14, 2020. The SBA also notes in this response that it intends to provide additiona...

With Paycheck Protection Program (PPP) loans being disbursed to businesses, now is the time to implement good processes and tracking mechanisms to maximize loan forgiveness. The PPP has been advertised as a grant, and, in many respects, it can function like one. However, the onus is on businesses to...

COVID-19 has infiltrated every corner of the economy and every link in the supply chain. Businesses have had to shut down some or all of their workplaces, retool operations and process, and rethink how they leverage – or even continue to employ – their workforce. Now that plans are in place to reope...

It’s no secret that COVID-19 is impacting every business in complex ways. Even with many states planning to “reopen” their economies in the coming weeks, accessing capital and maintaining adequate cash flow continue to threaten many companies’ long-term viability.

On April 23, the House passed the Paycheck Protection Program and Health Care Enhancement Act, which allocates additional funds for the Paycheck Protection Program (PPP) and Economic Injury and Disaster Loan (EIDL) program. President Trump signed the act into law on April 24.

The CARES Act (the “Act”) hallmark provision is the potential for loan forgiveness under the Paycheck Protection Program (PPP). As PPP funds are received by businesses, now is the time to strategize for maximum loan forgiveness. The PPP has been advertised as a grant, and, in many respects, it can f...

The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (Exposure Draft) that includes an optional one-year delay in the effective date for certain entities in applying the new lease and revenue recognition standards. The FASB provided the Exposure Draft in ...

In an uncertain market, cash is king. And the private equity world is sitting on record levels of cash, waiting to put it to work. According to a recent report, $830 billion of buyout-related dry powder was sitting with private equity funds at the end of last year, and more than half of it sits in N...

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was signed into law. The following is an overview of the key provisions of the CARES Act that affect retirement plan sponsors and their participants along with additional guidance on certain plan compliance issues.

On April 14, 2020, the U.S. Small Business Administration (SBA) issued guidance regarding the Paycheck Protection Program (PPP) application process for self-employed individuals. The application process was officially open to sole proprietors and independent contractors on April 10, 2020, but it was...

As the country focuses its attention on COVID-19, and with most of the nation under strict “stay-at-home” orders allowing only essential businesses to operate, many private companies in a variety of industries are suffering the economic impact of the current public health crisis.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes funding options for businesses of all sizes and in a multitude of industries. The widely discussed Economic Injury Disaster Loan (EIDL) and highly coveted Paycheck Protection Program are two such options. But with key applicatio...

Hoping to address some of the ambiguity surrounding the Paycheck Protection Program (PPP), the SBA, in consultation with the Treasury Department, released important updates to the highly coveted loan program this week, including clarification on eligibility requirements, the maximum loan calculation...

ESOP employee-owned companies have a unique issue to consider during these challenging times: how does the COVID-19 pandemic impact ESOP valuation? Each company’s situation will be uniquely impacted by factors including the ESOP plan document, the valuation date, and the size of the ESOP stock distr...

Introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Paycheck Protection Program is a lifeline for small businesses, injecting capital just when they need it most. The program offers nearly $350 billion in federally guaranteed loans, but the hallmark is that the ...

Within days of President Trump signing the Coronavirus Aid, Relief, and Economic Security (CARES) Act, small businesses are racing to obtain relief from the impact of COVID-19 through the Paycheck Protection Program (PPP) in the form of a forgivable Small Business Administration (SBA) loan.

Introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Paycheck Protection Program is a lifeline for small businesses, injecting capital just when they need it most. The program offers nearly $350 billion in federally guaranteed loans, but the hallmark is that the ...

On March 27, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act. While the sweeping legislation introduces a multitude of significant measures, the Paycheck Protection Program is a lifeline for small businesses, injecting capital when they need it most. Ho...

The U.S. Small Business Administration (SBA) is offering states and territories low-interest federal disaster loans for working capital issued in amounts ranging from $25,000 up to $2 million to small businesses and not-for-profit organizations suffering substantial economic injury as a result of th...

The unprecedented events in response to the COVID-19 pandemic are impacting every business in complex ways. Maintaining adequate cash flow to sustain successful operations is likely to elevate as a significant risk for many companies. However, there are tried-and-true processes that can help identif...

With both the states of Indiana and New York under executive orders to “stay-at-home,” our physical offices in Indianapolis and Fort Wayne are closed, with the exceptions noted below. Our New York City office will be closed until further notice. However, we are fully operational and ready to serve y...

Given recent updates and CDC guidelines related to COVID-19, we want to update you on the steps we are taking to protect the health and safety of our people, clients, families, and communities.

As Katz, Sapper & Miller continues to closely monitor the novel coronavirus outbreak (COVID-19), the health and safety of our people, clients, families, and communities remain a top priority for us. With this situation rapidly evolving, we feel it is important to update you about the steps we are ta...

The AICPA has provided long-awaited guidance to for-profit healthcare organizations that are subject to the Provider Relief Fund audit requirements.

Several misconceptions have caused tax professionals and businesses to overlook the potential benefits of the employee retention credit for manufacturers.

As the economy begins to recover from the COVID-19 pandemic, manufacturers are scrambling to catch up, keep up, and get ahead.

From construction of new buildings to acquisition or renovation of an existing one, cost segregation studies can be beneficial for commercial building owners.

On June 11, 2021, the Department of Health and Human Services released updated guidance on the reporting deadlines for Provider Relief Fund grants distributed as part of the Coronavirus, Aid, Relief, and Economic Security Act.

On March 11, 2021, the American Rescue Plan Act of 2021 was signed into law and created a $28.6 billion Restaurant Revitalization Fund to provide grants to eligible entities that suffered revenue losses due to the COVID-19 pandemic.

The latest round of federal COVID-19 relief was signed into law on Dec. 27, 2020. The Consolidated Appropriations Act, 2021 contains important provisions that change the Paycheck Protection Program (PPP) and the Employee Retention Credit (ERC). These changes will result in substantial savings for mo...

Within the span of a month, the Consolidated Appropriations Act, 2021, was signed into law, and a new presidential administration took office. Both events stand to have a profound impact on existing tax law as well as the COVID-19 economic relief available to businesses and individuals. Here’s what ...

The Consolidated Appropriations Act, 2021, creates new tax provisions, expands Paycheck Protection Program (PPP) funding, and provides additional unemployment insurance benefits. But what does that mean for your not-for-profit organization?

The Consolidated Appropriations Act, 2021, includes a new provision allowing 501(c)(6) organizations (not professional sports organizations) and “destination marketing organizations” to apply for and receive Paycheck Protection Program (PPP) loans. This is noteworthy because these organizations were...

Several months ago, the Department of Health and Human Services (HHS) announced that receiving distributions from the Provider Relief Fund (PRF) under the Coronavirus Aid, Relief, and Economic Security Act could impose an audit requirement for healthcare providers. Based on requirements, for-profit ...

The global outbreak of the novel coronavirus has created many challenges for buy here – pay here (BHPH) operators to navigate during 2020. They’ve had to pivot in the face of temporary closures, government regulations, and altered consumer demands in order to persevere through these difficult times....

With all of the twists and turns that have occurred in 2020, many veterinary hospital owners have found themselves stretched thin to keep up with busy appointment books and the demanding needs of managing a business. To help you stay as organized as possible, we’ve compiled this year-end checklist. ...

COVID-19 has thrown a wrench into nearly everything in 2020. Despite the hope that the stroke of midnight on Dec. 31 will bring resounding relief, provider productivity and compensation tracking will continue to see the ghost of 2020 unless preemptive planning has taken place.

State of Hoosier Manufacturing 2020 Survey Results The results are in from the 2020 Indiana Manufacturing Survey: COVID-19 Special Edition. They reveal that in a year of unpredictable outcomes and business projections, the manufacturing industry took a hit early in the COVID-19 pandemic but is bounc...

The Department of Health and Human Services (HHS) recently issued a policy update that makes significant changes to the Provider Relief Fund program. The Oct. 22 announcement not only expands PRF eligibility to healthcare providers that were excluded from previous distributions; it relaxes reporting...

The Coronavirus Aid, Relief, and Economic Security (CARES) Act created multiple programs to assist healthcare providers in weathering the COVID-19 storm. And while the financial support has been welcomed by the industry, it introduced many new deadlines, rules, and reporting requirements. Here is a ...

For manufacturers, 2020 has been one long slog of wondering, “What do we do next?” As businesses head into the fourth quarter – facing year-end planning pressures while simultaneously managing through a pandemic – the answer to this question may be more important than ever before.

In response to the global pandemic caused by COVID-19, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which provided increased funding for existing programs and funded at least 20 new federal programs to help stimulate the economy.

In today’s COVID-19 business environment, cyber threats have spread almost as rapidly as the virus itself – and manufacturing is uniquely susceptible. The industry has become increasingly digitized and data-driven, and the complexities of multi-organizational dependencies and data management in supp...

As with all industries, the COVID-19 pandemic has affected the transportation industry in a number of ways. Among the flurry of changes over the past few months, trucking professionals should be aware of the many accounting and tax updates which may impact daily and long-term business operations.

There are few things that can ruin a day as quickly as a call from your accountant with the news that you owe more than expected on an upcoming tax deadline. Thankfully, there is an alternative to tax deadline surprises. With thoughtful tax planning in the third and fourth quarters, transportation c...

The Governmental Accounting Standards Board (GASB) recently issued Technical Bulletin No. 2020-1 to clarify the application of the recognition requirements of existing GASB Statements to resources received from certain programs established by the Coronavirus Aid, Relief, and Economic Security (CARES...

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law earlier this year, provided multiple forms of economic relief for the real estate industry in the midst of the COVID-19 pandemic. The IRS has recently announced updates to this legislation, as well as updates to real est...

The COVID-19 crisis has presented economic and operational challenges to many businesses, including buy-here pay-here (BHPH) dealerships. BHPH dealers have commonly sought relief through the Paycheck Protection Program (PPP) and through lease concessions from their landlords. While each has provided...

In the wake of the COVID-19 crisis, the Office of Management and Budget (OMB), Small Business Administration (SBA), and Department of Housing and Urban Development (HUD) have all provided guidance or relief to address reporting challenges and questions. The following provides a summary of recent upd...

Philanthropic giving plays a crucial role in our communities, and it is the lifeblood for many not-for-profit organizations. Having an in-depth understanding of philanthropic trends and dynamics – especially in changing times – can help not-for-profits create effective fundraising strategies and tho...

As the effects of COVID-19 continue to wreak havoc on our nation’s economy, there may be no industry more disrupted than manufacturing. While some manufacturing companies are still in survival mode and evaluating whether or not to keep their doors open, others are cautiously transitioning into recov...

The Paycheck Protection Program Flexibility Act of 2020 was recently signed into law, and it significantly changes the Paycheck Protection Program (PPP) loan forgiveness options. Borrowers now have more time to use funds, the time to satisfy safe harbors has been extended, and payroll requirements have been relaxed.

The evolving COVID-19 pandemic has caused the trucking industry to tackle rapidly changing operational and financial practices. The Coronavirus Aid, Relief, and Economic Security (CARES) Act has provided economic relief to businesses and individuals, but many carriers are wondering how to maximize t...

Ever since the initial release of the Paycheck Protection Program (PPP) in early April, borrowers have been frustrated by the lack of detailed guidance about the program’s parameters. Although the Small Business Administration (SBA) has shared minimal updates over the last month, authoritative guida...

As not-for-profit organizations plan their return to work, they face many legal and operational considerations. What factors should be top of mind? How can organizations protect their employees’ health and well-being while effectively reopening for those they serve?

While COVID-19 continues to ravage all sectors of the economy, some industries have been harder hit than others, maybe none more so than manufacturing. But there is a silver lining to this dark economic cloud, and it comes in the form of deal dynamics.

When the Secretary of the Department of Health and Human Services issued blanket waivers of Section 1877 of the Social Security Act (also known as the physician self-referral or Stark Law), it relaxed fair market value (FMV) payment requirements in regard to provider compensation for “COVID-19 purpo...

Not-for-profit organizations are facing new challenges as they adapt to “the new normal,” and fundraising and generating program service revenue are at the top of the list. How are not-for-profits finding success in the midst of new dynamics?

Not-for-profit organizations have been hit hard by the coronavirus pandemic. Facing temporary shutdowns, canceled fundraising events, and uncertainty about the future, not-for-profits have had to reimagine how they can continue to carry out their organization’s mission in the face of adversity.

Many healthcare providers have gladly welcomed the variety of economic relief programs designed to soften the financial blow during the coronavirus outbreak. As cash flow management concerns, changes in patient care, and operational issues take center stage, documentation of these funds and how they...

The Department of Health and Human Services (HHS) has announced a new $20 billion distribution for healthcare providers from the Coronavirus Aid, Response, and Economic Security (CARES) Act Provider Relief Fund. Beginning on April 24, certain providers will receive funds based on information contain...

The COVID-19 pandemic has created an array of obstacles for all healthcare providers. While many healthcare workers are front-and-center caring for those suffering from the disease, independent physician practices are suffering from declining patient volumes and a prohibition on elective surgeries. ...

On April 15, 2020, the Governmental Accounting Standards Board (GASB) proposed to postpone the effective dates of a significant number of the upcoming GASB statements and implementation guides, which were previously due to be implemented by state and local government units for fiscal years 2019 and later.

Last week, KSM presented on “Costs, Capital, and COVID-19: Resources and Strategies for the Real Estate Industry” as part of ULI Indiana’s Online Breakfast Series event. KSM is the founding sponsor of ULI Indiana and is happy to support this and other virtual programming from ULI.

The Department of Health and Human Services announced April 10 that it is immediately beginning to distribute $30 billion of economic relief to eligible healthcare providers feeling the strain of expenses and lost revenue due to COVID-19. The funding is part of the healthcare-focused provisions of t...

The manufacturing industry entered 2020 with full momentum, but the evolving COVID-19 crisis has left the future uncertain. What companies do now and in the coming weeks to mitigate risk and limit damages is crucial to navigating these unprecedented times. Professionals from Katz, Sapper & Miller jo...

The healthcare community saw the first warning signs of a pandemic that has upended the nation. As some providers race to the front lines to care for those most in need, others have been left with declining patient volume and dwindling cash flow.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides several programs, such as the Paycheck Protection Program (PPP), a forgivable loan, and the U.S. Small Business Administration’s (SBA) low-interest federal disaster loan program, which are a lifeline for small businesses and inj...

Lenders and advisors alike have questioned whether churches, faith-based organizations, or organizations with religious affiliations are qualified to participate in Small Business Administration (SBA) loan programs offered as economic relief during the coronavirus outbreak. Previous SBA documentatio...

The healthcare industry is collectively bracing for a surge of coronavirus-infected patients who need hospitalization. Estimates vary on when the wave of patients will crest, but rapid infection will undoubtedly strain existing resources, leaving hospitals with more patients than available beds or isolation areas. 

The real estate industry entered 2020 with full momentum and high expectations. Since COVID-19 has come onto the scene, the pendulum has swung in the opposite direction. What developers, investors, and managers do now to mitigate risk and limit damages is critical. The federal government has launche...

At the end of the last century, when I owned and operated trucking companies, we used to daydream about how great it would be if some sort of capacity constraining event occurred and there were fewer trucking companies, and thereby trucks (capacity), available to the shipping public. We would finall...

Like many agencies across the country, the Indiana Department of Transportation (INDOT) recognizes the need for flexibility and adaptation during the COVID-19 health crisis. INDOT’s Prequalification Division has released updated guidance for construction contractors who need to submit Statements of ...

We hope you and your crews are staying safe during these unprecedented times. Like us, you are probably adjusting to a new “normal” while still tending to the needs and concerns of your business. Please know that we are here to support you.

The coronavirus pandemic has upended the normal operations of nearly all medical groups. Whether you are experiencing a surge in patient volume or a devasting drought, maintaining cash flow is a chief concern.

The COVID-19 pandemic is changing our day-to-day lives, and veterinary hospitals have not escaped the disruption. During this challenging time, what should veterinary hospitals be doing?

On March 13, 2020, the Securities and Exchange Commission (SEC) announced that it is providing regulatory relief for registered funds and investment advisors, citing the impact on their operations due to COVID-19. The SEC is providing temporary exemptive relief related to requirements in the Investm...