New Employee Retention Credit Guidance – PPP Forgiveness Gross Receipts, Owner Wages, Employee Counts, Amended Income Tax Returns and More

The IRS recently issued additional guidance on the Employee Retention Credit (“ERC”) primarily focused on the 3rd and 4th quarters of 2021 that were added with the American Rescue Plan back in March 2021.  The guidance touched on some unknowns that we’ve had questions about since the program was created and then opened to employers that received a Paycheck Protection […]

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SBA Streamlines Forgiveness for Smaller PPP Loans

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans. The guidance comes at a time when many […]

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Important Factors for Hiring Quality Employee Benefit Plan Auditors

The AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) has published a plan advisory called “The Importance of Hiring a Quality Auditor to Perform Your Employee Benefit Plan Audit.” This advisory was created for plan administrators to have a guide to follow the important process of hiring an auditor with the correct experience to audit […]

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New Employee Retention Credit Guidance – PPP Forgiveness Gross Receipts, Owner Wages, Employee Counts, Amended Income Tax Returns and More

The IRS recently issued additional guidance on the Employee Retention Credit (“ERC”) primarily focused on the 3rd and 4th quarters of 2021 that were added with the American Rescue Plan back in March 2021.  The guidance touched on some unknowns that we’ve had questions about since the program was created and then opened to employers that received a Paycheck Protection […]

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Department of Labor Issues Proposed Rule Regarding Tipped Employees

By: Frank T. George Last week, the U.S. Department of Labor (DOL) published a proposed regulatory rule that—if finalized—will impact tipped employees and their employers. Rather than paying tipped employees the federal minimum wage of $7.25 per hour, employers can lawfully count a portion of an employee’s tips toward the minimum wage.  This is referred to […]

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Robinhood Service Outages Create Headaches – But There’s a Cure

By: Hugh D. Berkson At the risk of stating the painfully obvious, if something sounds too good to be true, it probably is.  The latest evidence supporting that timeless gem is Robinhood’s promise of free stock trading available to anyone.  It sounds great, except when Robinhood’s trading platform goes offline, leaving tens of millions of […]

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The Pandemic Effect: Car Crash Data in Ohio

By: Colin R. Ray As you may have noticed, the easing of Ohio’s Covid-19 related restrictions and the recovery of the local economy has led to increased traffic on Ohio’s roads and highways. Typically (and logically), more traffic leads to more crashes. The Ohio State Highway Patrol maintains detailed statistics on crashes in Ohio on a yearly basis. […]

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Current Developments Relating to President Biden’s Infrastructure and Social Spending Proposals

Last May I posted a blog discussing the outlook for President Biden’s $2.3 trillion infrastructure plan.  Since then, there have been several significant developments:  a failed attempt at infrastructure negotiations with the GOP Senate caucus, a so-far-successful, infrastructure proposal advanced by a bi-partisan group of Senate Democrats and Republicans, and an apparent agreement among Senate Democrats for a $3.5 […]

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Funding Available for Operations and Supply Chain Management Education for Manufacturers

The Akron Chapter of the Association for Supply Chain Management (ASCM, formerly APICS) has received funding from the State of Ohio to deliver certification coursework to employees at Ohio-based manufacturing companies. The focus is for companies with 500 employees or fewer. All the company has to show is that they were negatively impacted by Covid. […]

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Managing Your Retirement Plan – How to Stay on Top of Complex Requirements

Retirement plan sponsors face greater challenges today than ever before. Regulatory scrutiny is on the rise with the Department of Labor (DOL) actively reviewing Form 5500 filings searching for evidence of noncompliance, inaccurate reporting and excessive fees. But that’s not all. In addition to staying on top of complex legal and regulatory requirements, sponsors also […]

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