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Learn MoreThe remote work environment many of us find ourselves in due to COVID-19 is a radical change for many organizations. There’s productivity, morale, human resource issues and a host of other considerations to be mindful of and proactively manage as a business leader. One of those key considerations...
Read MoreThe Main Street Lending Program was introduced in April as part of the CARES Act to provide expanded relief for small and medium sized businesses. The $600 billion lending facility runs through banks and offers four-year loans to eligible borrowers. On July 17, 2020, the Federal Reserve released...
Read MoreThe pace and intricacies of regulatory change in the investment industry are, at times, nothing short of overwhelming. Yet, organizations in this space need to have a clear understanding of evolving regulations, their timing and overall impact. To help you stay up to date, below is Cohen &...
Read MoreThere are options for accounting for your company’s PPP loan, depending on what makes the most sense for your organization.
Read MoreIf you’ve been involved in preparing your organization’s SOC report, you likely have come across the section that discusses “subservice organizations” and “complementary subservice organization controls” (auditors call these “CSOCS” for short). You may have even been tasked with the responsibility...
Read MoreAs we head into the second half of a very tumultuous 2020, your professional service firm may be asking, “Where do we go from here?” Hopefully you have been able to battle through the unexpected and sudden impact COVID-19 has had on nearly all businesses and their clients. In the back of your...
Read MoreIn response to COVID-19, many entities have reduced employee headcount to remain in business. As a result, it’s more important than ever to understand how to account for termination benefits. This includes carefully considering which types of benefits are being provided and the overall timing of...
Read MoreThe U.S. Small Business Administration (SBA) has released detailed loan-level data on Paycheck Protection Program (PPP) loans exceeding $150,000. The data includes business names, addresses, NAICS codes, zip codes, business type, demographic data, nonprofit information, name of lender, jobs...
Read MoreOn Saturday, July 4, President Trump signed into law an eight-week extension of the Paycheck Protection Program (PPP), after its approval in Congress. The program still has $131.9 billion to loan out and is accepting initial applications as of July 6, 2020, at 9:00 a.m. EDT. Employers who have...
Read MoreThe CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take so-called “coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other retirement...
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