The Business Interruption Loss Task Force will provide up-to-date information regarding business interruption claims that may be related to the current COVID-19 pandemic. Our experienced team can assist with all aspects of evaluating, documenting, and quantifying potential loss claims.
This task force’s mission is to educate clients on commonly accepted strategies to protect and position assets during a market and economic correction. The content provided is for informational purposes only, and any recommendation specific to your financial situation should be consulted with your financial professional.
Did you know that if you or your organization received support under the CARES Act Provider Relief Fund (PRF) that you may be subject to an audit requirement? Many organizations receiving PRF funds have likely never been audited, and if they have been, it is probable that they were not subject to either Yellow Book or Single Audit requirements—which have a separate set of conditions to meet. Additional assistance from an accounting firm with substantial Single Audit experience may help you learn more about these requirements and how your organization can start planning now for future audits.
The Families First Coronavirus Response Act requires certain employers to pay sick leave as well as paid family leave to its employees impacted by COVID-19. This Act also provides very lucrative cash back to employers who fund this new paid leave. The CRI COVID-19 Paid Leave Tax Credits Task Force seeks to analyze this Act, in addition to the Emergency Paid Sick Leave and Emergency Federal Family and Medical Leave Expansion Acts, all while monitoring updates and clarification on program specifics in order to provide practical solutions for businesses facing these daunting employee and payroll dilemmas.
We will be actively monitoring legislation at the Federal and state levels, and any other government initiatives affecting businesses related to the Coronavirus outbreak. We will be summarizing and disseminating information quickly on these topics.
The Main Street Lending task force is focused on the multiple loans and loan guarantees for businesses to assist in economic stabilization through and after the COVID-19 pandemic as laid out in the CARES Act. Our goal is to provide up-to-date interpretations and practical implementation solutions for clients seeking relief.
CRI’s SBA Disaster Loan Task Force goal is to be a resource for small businesses to determine the need for the Economic Injury Disaster Loan funds and to aid them in applying for the low-interest loans provided by the Small Business Administration.