New Program Provides COVID-19 Relief Funding for Private Schools

The coronavirus has created unprecedented educational disruptions across the country – schools shifting online, closing, reopening for in-person classes, and then going back to an online format as the pandemic surges and recedes. Schools have also had to reconfigure classrooms and common spaces and reduce capacity to enable social distancing,

Read More

Shuttered Venue Operators – Apply Early for Aid

Though virtually no industry remains untouched by the pandemic’s economic impact, live venue operators are among the hardest hit – and the latest round of COVID-19 relief funding includes special provisions to help them weather the storm. Relief is coming, with the Small Business Administration (SBA) expected to begin accepting

Read More

Non-Profit Provisions in Latest COVID Relief Legislation

New legislation designed to support millions of Americans as they continue to struggle with the impact of COVID-19 on their health, livelihood, and community went into effect at the end of 2020. One of the major provisions of the Consolidated Appropriations Act (CAA) is relief for not-for-profit organizations. Here are

Read More

IRS Hosts Non-Employee Compensation Awareness Meetings

New for 2021 is Form 1099-NEC (Non-employee Compensation).  The IRS now requires exempt organizations to report non-employee compensation on the new Form 1099-NEC instead of Form 1099-MISC.  This is for payments totaling $600 or more to a nonemployee, such as an independent contractor.   Form 1099-NEC should be filed with the

Read More

OMB Approves Compliance Supplement Addendum for COVID-19 Programs

On December 22, 2020, the Office of Management and Budget approved and posted the Compliance Supplement Addendum for COVID-19 programs administered in 2020. This addendum is effective for audits beginning after June 30, 2019. The reason for the addendum is to provide guidance for entities with COVID-19 program expenditures that

Read More