covid19news

Keep Your Nonprofit Organization’s Contributions Flowing During COVID-19

Have you had to cancel or postpone your fundraising event or gala? Are you in the middle of a capital campaign? Do you have restricted grants or contributions? As a nonprofit organization, you are probably concerned about contributions, revenue, and cash flows for your organization. There are a few things you can do to help [...]

2020-03-31T18:55:16-04:00March 31st, 2020|COVID-19, NOT-FOR-PROFITS|

Best Practices for Non-Acute Care Entities During COVID-19 Disruption

The effects of COVID-19 have been widespread, devastating, and extremely rapid across the global economy. One of the most affected segments is healthcare. While acute care facilities (hospitals, skilled nursing, etc.) are required to deal with tremendous volume, despite lack of staffing and resources, the remainder of the healthcare spectrum, namely non-acute care providers, are often [...]

2020-03-26T01:19:57-04:00March 26th, 2020|COVID-19, HEALTHCARE|

Cybersecurity Tips for Working From Home

With the COVID-19 pandemic changing the way we work, workforces are seeing a shift towards a completely remote work environment. If you are making the shift, we've compiled a helpful list of security tips to keep in mind if you are using your laptop at home: Make sure you limit physical access to your work [...]

2020-03-25T18:11:55-04:00March 25th, 2020|COVID-19, CYBERSECURITY|

Business Impact, Critical Considerations, and Decisive Actions Related to Coronavirus

In America, the business landscape and the lives of Americans are changing by the minute. These landscape changes have a significant impact on American businesses and require critical considerations and decisive actions from business leaders. The impact of the coronavirus outbreak was devastating to both Main Street and Wall Street. These impacts will likely continue [...]

2020-03-26T00:52:51-04:00March 25th, 2020|COVID-19, GOVERNANCE & RISK ASSESSMENTS|

CARES Act, Division C – Assistance to Severely Distressed Sectors for the United States Economy

As you look at the economic landscape of the United States today, it is much different than it was just a short time ago. Markets are unstable. Businesses are closing or radically changing their service delivery methods. School facilities have closed. Employees and customers are coping with orders to shelter-in-place or maintain appropriate social distancing. [...]

2020-03-27T16:52:32-04:00March 25th, 2020|COVID-19|

Proposed Healthcare Economic Relief for Rural Facilities and Providers

Three members of the US Senate (two Democrats and one Republican) have recently proposed the Immediate Relief for Rural Facilities and Providers Act. This is primarily a hospital event. While simply a proposal, it is important to understand the provisions, as some (or all) of these measures may eventually make their way into law, in some [...]

2020-03-25T04:06:25-04:00March 24th, 2020|COVID-19, HEALTHCARE|

Down-Market Strategies to Replenish Your Balance Sheet and Prosper

As market volatility continues due to COVID-19, investors should understand the opportunities available to recoup losses and what areas to avoid. The economic impact of the novel coronavirus has many rattled, and investors are wondering how to navigate through a sea of information and news. It is vital to make informed decisions and not sell-off [...]

2020-03-25T17:47:44-04:00March 24th, 2020|COVID-19|

Understanding the Basics of Business Interruption Claims

Business owners across the United States are experiencing unprecedented challenges as they navigate the uncertainty of COVID-19. With many businesses required to significantly limit operations or even close down for extended periods of time, business owners are left wondering how they can survive the storm. One potential lifeline may very well be hidden inside your [...]

2020-03-25T11:36:26-04:00March 24th, 2020|BUSINESS CONSULTING, COVID-19|

Stabilizing Your Business: Improvise, Adapt, Overcome.

With constant changes brought on by the pandemic of COVID-19, your business may be presented with cash flow challenges and opportunities you may have never faced before. To respond to these changes, look no further than a motto with which you are familiar: Improvise, Adapt, Overcome. The slogan used by the United States Marine Corps [...]

2020-03-25T13:58:55-04:00March 24th, 2020|Business, COVID-19, DISASTER RECOVERY|

Government Entities: Plan, Protect, Adapt, Overcome.

As you look at your government entity today, it is likely much different than it was just a short time ago. The COVID-19 pandemic brought challenges and opportunities we have never faced before. How should you respond to the pending financial and operational challenges? Look no further than: Plan, Protect, Adapt, Overcome. These words outline [...]

2020-03-25T11:14:13-04:00March 24th, 2020|COVID-19, DISASTER RECOVERY, GOVERNMENTS|

SBA To Provide Economic Injury Disaster Loans for COVID-19 Related Economic Disruptions

The U.S. Small Business Administration (SBA) is offering all U.S. states and territories low-interest federal disaster relief loans for working capital to small businesses that are suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon request from the governor of a state or territory, the SBA will issue an Economic Injury Disaster [...]

2020-03-25T11:55:20-04:00March 24th, 2020|COVID-19, SMALL BUSINESS|

Coronavirus Economic Response Package – Phase Two

On March 18, phase two of the Coronavirus Economic Response package was signed into law. The Families First Coronavirus Response Act (HR 6201) extends paid sick leave to employees all over the country affected by the pandemic (“COVID-19”). The paid leave is paid for by the federal government and funneled to the employees through the [...]

Phase 3 Stimulus Bill Provisions for Healthcare

Updated March 26, 2020 Congress has passed the Phase 3 Stimulus Bill, which is unprecedented in recent years in terms of the dollars to be expended and the scope of the legislation. The following are a few key provisions of the bill that are relevant to healthcare providers. All Healthcare Providers: Elimination of the 2% [...]

2020-03-26T17:45:05-04:00March 23rd, 2020|COVID-19, HEALTHCARE|

OMB and HUD Guidance in Response to COVID-19 Pandemic

With the novel Coronavirus (COVID-19) now affecting the operations of governmental entities, not-for-profit organizations, and other recipients of federal award programs, the Office of Management and Budget (OMB), the Department of Housing and Urban Development (HUD), and the Department of Education (ED) have, in response, issued guidance on the easing of due dates and certain [...]

COVID-19: Loan Modification Considerations for Financial Institutions and Their Customers

The Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB) and Conference of State Bank Supervisors (from now on referred to as the Agencies) have issued the Interagency Statement on Loan Modifications [...]

2020-03-24T12:03:03-04:00March 23rd, 2020|CECL, COVID-19, FINANCIAL INSTITUTIONS|

Phase 3 – Senate Republican Proposal

As of March 20, 2020: Division A – Small Business Interruption Loans ($300 billion) Increase SBA loan eligibility for certain small businesses and organizations: Businesses and nonprofit organization with no more than 500 employees Maximum loan amount – the lesser of: Four times average monthly payments for payroll, mortgage, rent, and other debt, or $10 [...]

2020-03-25T12:37:10-04:00March 20th, 2020|COVID-19|

U.S. Treasury and IRS Postpone Income Tax Filing and Payment Deadlines

Updated 3.23.2020 In the fast-moving and ever-changing environment surrounding the Coronavirus pandemic, the U.S. Treasury announced that the tax filing deadline of April 15, 2020, will be pushed back to July 15, 2020.  This was a change of course from announcements made only days earlier. Earlier this week, Treasury and the IRS announced that they [...]

Contractors and COVID-19

In response to the growing concern over the COVID-19 pandemic, the construction industry has taken an unexpected hit. This unprecedented occurrence can feel daunting, especially when it comes to planning for potential circumstances are not under your direct control. Rather than panic, the best approach is often achieved by taking the time to consider different [...]

2020-03-23T07:57:02-04:00March 20th, 2020|BUSINESS TAX, CONSTRUCTION, COVID-19|

Connecting the Dots: Business Interruption Planning As It Relates to COVID-19

A hot topic within the hospitality industry right now is whether insurance policies will cover the drop in revenue (and subsequently, lost profits) arising out of both the pandemic and civil actions taken by federal, state, and local officials. Typically, this issue would arise months down the road when businesses would begin to file interruption [...]

SEC Update on COVID-19

The U.S. Securities and Exchange Commission (SEC) provides updates of its response to the novel Coronavirus (“COVID-19” or “Coronavirus”) on its website at https://www.sec.gov/sec-coronavirus-covid-19-response. To date, the SEC’s actions include, among others, the following: On February 19, 2020, the SEC issued a joint statement, Effects of the Coronavirus on Financial Reporting that: Urged public companies [...]

2020-03-19T15:38:46-04:00March 19th, 2020|COVID-19, PCAOB AUDITS & SEC COMPLIANCE|