News for News for Businesses
Monday, January 11, 2021
SBA has announced Ascent, an interactive digital platform packed with resources women business owners need to set, and achieve, their business goals. Ascent is designed for the “missing middle” — growth-oriented women entrepreneurs who are beyond the start-up phase and already generating revenue yet looking to grow and scale. Most learning resources for business owners focus on either ...read more
Categories: Government, News for Businesses
Friday, January 08, 2021
Bell & Bell's Blood Drive with The Blood ConnectionLocation: Bell and Bell Buick GMC, 2491 Hwy 9 E, Little River, SC 29566Date: 01/22/2021 | 1 PM-5 PMAll donors will receive a $20 Visa gift card!Face coverings are required while donating.For any questions, contact Digital Marketing Coordinator Audrey Hinson at (843) 399-8300.To save lives, make an appointment here.
Categories: Community News, Announcements from Members, News for Businesses
Friday, January 08, 2021
The Small Business Administration (SBA) has released several interim final rules related to the Paycheck Protection Program (PPP) and the second draw of PPP loans as outlined in the recently passed Economic Aid Act. This rulemaking provides details on the reactivation of PPP as well as the rollout of second draw loans for eligible businesses.
Generally, the eligibility and documentation ...read more
Categories: News for Businesses
Friday, January 08, 2021
On January 8, 2021, the U.S. Small Business Administration, in consultation with the Department of Treasury, announced that the Paycheck Protection Program (PPP) will re-open the week of January 11, 2021 for new borrowers and some existing PPP borrowers. The initial wave of loans issued on Monday, January 11, and Wednesday, January 13, will only be available to community financial institutions, ...read more
Categories: Government, News for Businesses
Friday, January 08, 2021
On Wednesday, the Small Business Administration (SBA) and the Treasury Department released new guidance on the Paycheck Protection Program as authorized in the latest stimulus bill. According to the SBA, applications for new borrowers and some second borrowers will open on Monday, January 11, and Wednesday, January 13, respectively.Key PPP updates include:PPP borrowers can set their PPP loan's ...read more
Categories: Government, News for Businesses
Wednesday, January 06, 2021
WASHINGTON, DC – The U.S. Department of Labor today announced a final rule clarifying the standard for employee versus independent contractor status under the Fair Labor Standards Act (FLSA).
“This rule brings long-needed clarity for American workers and employers,” said U.S. Secretary of Labor Eugene Scalia. “Sharpening the test to determine who is an independent contractor under the Fair ...read more
Categories: Government, News for Businesses
Wednesday, January 06, 2021
WASHINGTON – Today the Treasury Department and Internal Revenue Service issued final regulations regarding the credit for qualified carbon oxide captured using carbon capture equipment placed in service on or after Feb. 9, 2018.The final regulations help businesses understand how the credit for qualified carbon oxide sequestration may benefit those claiming two carbon capture credit amounts, which ...read more
Categories: Government, News for Businesses
Wednesday, January 06, 2021
WASHINGTON – The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP).
Today’s guidance, Revenue Ruling 2021-02, reflects changes to law contained in the COVID-related ...read more
Categories: Government, News for Businesses
Monday, January 04, 2021
Employers must file Form W-2 and other wage statements by Monday, February 1, 2021. This is also the date Form W-2s are due to employees.By law, employers are required to file copies of their Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration by January 31. However, since January 31 falls on a Sunday in 2021, the ...read more
Categories: Government, News for Businesses
Tuesday, December 29, 2020
Recently, Congress has passed several changes to the Paycheck Protection Program (PPP) and created a “Second Draw” PPP for small businesses that have exhausted their initial loan. They've also made other changes that impact eligibility for initial PPP loans, the loan forgiveness process, and the tax treatment of PPP loans.
Congress has also made changes to other programs – including Economic ...read more
Categories: From the Chamber, Government, News for Businesses
Wednesday, December 23, 2020
On Monday, December 21, 2020, the Senate approved a massive emergency economic relief package, government funding, and tax cuts designed to counter the effects of the pandemic and stimulate economic growth. The legislation, introduced as a 5,593-page bill, was passed with a 92 to 6 vote following weeks of intense negotiations.Efforts to pass economic relief measures in the weeks leading to the ...read more
Categories: Community News, From the Chamber, Government, News for Businesses
Thursday, December 03, 2020
WASHINGTON — The Internal Revenue Service today reminded employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud.
A 2015 law made it a permanent requirement that employers file copies of their Form W-2, Wage and Tax Statements, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration ...read more
Categories: Government, News for Businesses
