Ohio COVID-19 Unemployment Benefits | COVID-19 Tax Credits

Ohio COVID-19 Unemployment benefits, SBA Disaster Loans & Tax Credits

Published on by Cheryl Ganim in COVID-19, Tax Services

Ohio COVID-19 Unemployment benefits, SBA Disaster Loans & Tax Credits

Barnes Dennig is dedicated to helping you identify opportunities, options and strategies to minimize the impact of the COVID-19 Pandemic. Visit our COVID-19 Advisory Services Page here to learn more.

Unemployment Insurance Benefits (OH)

The pending federal legislation has expanded unemployment insurance (UI) benefits language for self-employed individuals, but Ohio Governor Mike DeWine chose not to take this election for COVID-19 at this point. This means that those identifying as self-employed, business owners, and those receiving guaranteed payments may not be eligible for Ohio UI benefits. This situation could definitely evolve as the pandemic progresses. For employees, the one week wait for unemployment benefits in Ohio was lifted. Additionally, the experience rate should not be impacted down the road as the claims will be mutualized. For more information on these benefits, visit the Ohio Department of Job and Family Service website here.

Are self-employed individuals who have temporarily closed or experienced a downturn in their businesses due to COVID-19 eligible for unemployment benefits?

It depends: Self-employed individuals who have been solely self-employed for the last year or more may not meet the monetary requirements to establish a claim because the wages they earned from self-employment are not considered “covered” under unemployment law.

See page 14 of the Ohio Department of Job and Family Service Worker’s Guide to Unemployment Insurance for the base period definition. Employees would have to work 20 weeks in a covered job (W-2 wages) to qualify for unemployment benefits.

SBA Disaster Loans

The Small Business Administration (SBA) disaster loans may apply to homeowners as well as small businesses. For more information on how small businesses can plan for and react to the COVID-19 Pandemic, visit the SBA’s Coronavirus (COVID-19): Small Business Guidance & Loan Resources here.

For more information on the SBA’s disaster assistance funding programs visit the SBA website here.

The Small Business Administration announced on Thursday, March 12, 2020 that it would offer economic injury disaster loans, but a presidential declaration could simplify the process for small businesses seeking loans up to $2 million.

President Trump signed an emergency declaration rather than a major disaster declaration, which requires an assessment of significant physical damage and is common for hurricanes or wildfires. Both types of declarations are authorized by the Stafford Act, the relevant difference now is that a major disaster declaration allows for broader assistance such as disaster unemployment assistance and crisis counseling, and other recovery programs, such as community disaster loans.

Section 45S Employer Credit for Paid Family and Medical Leave

Internal Revenue Code Section 45S provides a tax credit for employers who provide paid family and medical leave to their employees. Eligible employers may claim the credit, which is equal to a percentage of wages they pay to qualifying employees while they’re on family and medical leave. The credit generally is effective for wages paid in taxable years of the employer beginning after December 31, 2017.

For more information on this credit, visit the IRS website here.

Contact Us

Barnes Dennig is following updates and responses to the COVID-19 pandemic as they are announced. Our team is dedicated to helping our friends and clients navigate these difficult and complex issues.

Visit Barnes Dennig’s COVID-19 Resource Center call 513-241-8313 for a comprehensive list of communications. Please contact our COVID-19 Advisory Team or any of our leadership team at Barnes Dennig to discuss.

Barnes Dennig COVID-19 Advisory Team Leaders:


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