COVID-19 Complicates Year-End Vacation Policy Processes
The pandemic has raised a common concern for many HR professionals— What do you do with unused vacation balances? And, how do you manage a potential flood of requests at the end of the year? See how other employers are managing year-end time off requests here.
FFCRA Set to Expire Dec. 31
FFCRA leave provisions are set to expire at the end of the year, but we are averaging over 100,000 new cases each day. Employment attorneys are torn in their predictions of an extension under the new presidency. Read more about the future of FFCRA here.
Are You Applying for PPP Forgiveness before the End of the Year?
The Paycheck Protection Program has been nothing short of slow rolling and confusing. And, at the tail-end of 2020, we're still searching for guidance on how and when to apply.
1- Contact your lender and complete the correct form.
Your lender can provide you with the standard SBA Form 3508 or one of the shortened versions, 3508EZ or 3508S
2- Compile your documentation.
- Payroll reports
- Payroll tax filing reports (typically Form 941)
- State quarterly filing reports
- Receipts, statements, or reports documenting employer contributions for health care or retirement plans included in your forgiveness amount
- Proof of business mortgage interest payments
- Business rent or lease payments
- Business utility payments
3- Submit your forgiveness form and documentation to your lender
Submit your application and documentation to your lender for review. Be sure to submit any additional documentation your lender asks for promptly so you don't slow the process.
4- Stay in touch with your lender throughout the process
What we do know is that the forgiveness process has been slow, so communication is vital. Your lender is the connection between you and the final decision maker— they are responsible for submitting your application to the SBA and delivering you the decision. If you have any questions throughout the process, consult your lender directly.