COVID-19 RESOURCES
COVID-19 DISASTER RELIEF RESOURCES:
IRS Tax Filing and Payment Deadlines Q&As
https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers
Economic Impact Payments
Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child, depending on their adjusted gross income.. How will the IRS know where to send my payment? The vast majority of people do not need to take any action.
https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
MN Unemployment
Expanded UI Benefits for COVID-19: In addition to regular state unemployment insurance, individuals will receive an additional $600 per week for up to four months. In total, unemployed workers will receive 39 weeks of unemployment benefits, which will carry them through to the end of 2020.
Families First Coronavirus Response Act (FFCRA)
On March 18, 2020, the President signed into law the Families First Coronavirus Response Act (Act), which includes both the Emergency Family and Medical Leave Expansion Act (EFMLEA) and the Emergency Paid Sick Leave Act (EPSLA), both applicable to employers with fewer than 500 employees (even if the employer is not otherwise subject to the FMLA).
FFCRA FAQs
https://www.dol.gov/agencies/whd/pandemic/ffcra-questions
Coronavirus Aid, Relief, and Economic Security Act
Small Business Act (SBA) Loan Provisions briefing by Kim Ripberger Coronavirus Aid, Relief, and Economic Security Act On Friday, March 27, 2020, President Trump signed the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) into law.
https://www.sbc.senate.gov/public/index.cfm/guide-to-the-cares-act
CARES Act FAQs
https://www.irs.gov/newsroom/faqs-employee-retention-credit-under-the-cares-act
Paycheck Protection Program (PPP)
A SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. To be eligible for the PPP you must be a small business, sole proprietor, “side hustler”, or non-profit that has fewer than 500 employees that was in business prior to February 15, 2020. This program has a very wide application.
https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
Payroll Protection Program Sample Application:
https://www.sba.gov/sites/default/files/2020-03/Borrower Paycheck Protection Program Application.pdf
Economic Injury Disaster Project (EIDL)
The Economic Injury Disaster Loan Program (EIDL) provides up to $2 million of financial assistance to small businesses or private, non-profit organizations that suffer substantial economic injury. The loan program is the only Small Business Administration lending program that is not restricted to small businesses.
https://www.benefits.gov/benefit/1504
Economic Injury Disaster Loan Application:
https://covid19relief.sba.gov/
Worker Adjustment and Retraining Notification (WARN Act)
The Worker Adjustment and Retraining Notification (WARN) Act helps ensure advance notice in cases of qualified plant closings and mass layoffs. The U.S. Department of Labor has compliance assistance materials to help workers and employers understand their rights and responsibilities under the provisions of WARN.
https://www.dol.gov/agencies/eta/layoffs/faq
MN Department of Employment & Economic Development (MN DEED)
A Guide for Minnesota Small Businesses Who Need Help
https://mn.gov/deed/newscenter/press-releases/#/detail/appId/1/id/425890
Minnesota Small Business Emergency Loans
Following Executive Order 20-15, DEED has established a loan program to assist small businesses directly and adversely affected and whose industry is named in Executive Orders 20-04 and 20-08 following the COVID-19 pandemic. Small businesses are a vital part of Minnesota’s economy and this program will provide a source of working capital to help businesses sustain operations during this challenging time.
Small Business Emergency Loans
https://mn.gov/deed/business/financing-business/deed-programs/peacetime/
Executive Order 20-15
https://mn.gov/governor/assets/EO%2020-15%20Filed_tcm1055-424509.pdf
Executive Order 20-04 & 20-08
https://mn.gov/governor/assets/2020_03_16_EO_20_04_Bars_Restaurants_tcm1055-423380.pdf