Employers can mandate employees get the COVID-19 vaccine subject to reasonable accommodations for employees with disabilities, medical conditions, or a sincerely held religious belief. But many employers instead want to offer bonuses and other incentives to vaccinated employees. The EEOC has confirmed that employers may offer vaccination incentives to employees as long as the incentives are “not so substantial as to be coercive.” Employers may offer these incentives to employees to provide documentation or other confirmation of vaccination from a third party, such as a pharmacy or health department. Request only proof of vaccination; be clear you do not [...]
Registrations begin on Friday, April 30, 2021, at 8 a.m. CDT and the application portal is scheduled to open on Monday, May 3, 2021, at 11am CDT. For the first 21 days, the Small Business Administration (SBA) will prioritize funding applications from businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals. Apply ASAP! Here’s the link to register with the SBA. If you prefer to listen, check out this webinar for a step by step guide. Follow along as Jeff completes the application (available here.). Below is an overview but many questions are answered here [...]
Current PPP Funding May Not Make It To May 31, 2021 SBA has indicated funding for the Paycheck Protection Program (“PPP”) will likely dry up in late April … more than a month before the program’s scheduled expiration on May 31, 2021. Borrowers interested in securing a First Draw PPP Loan or a Second Draw PPP Loan should move quickly, before funds are exhausted. Contact your bank or credit union now or let us know if you need guidance. What you need to get started: If a sole business owner, you will need your filed Form 1040, Sch C [...]
The Shuttered Venue Operators Grant program (SVOG) is expected to provide over $16 billion in economic relief to target industries. The portal for SVOG application will open on Thursday, April 8, 2021. While the SVOG program has not yet opened for applications, SBA has prepared a Checklist to help grant applicants gather required information. Make sure to prepare grant applications carefully.
Seminar Follow Up For those who were not able to attend, here is the recording for our Thursday, February 18, webinar on the Employee Retention Credit, Post Consolidation Appropriations Act for TY2021. This is the link to the IRS Form 7200 for claiming the ERC for TY2020. The slides from Sarah's presentation are on our website along with Two Sample ERC Qualified Wages Worksheets. Questions from yesterday's seminar are addressed in our updated Q&A. Please contact Sarah if you would like further assistance, review or if you would like to use Sarah's ERC excel worksheet. Reminders: We've added resources [...]
Form 990 Reminder: Every 501(c) must file a 990 every year Dear Scholz Nonprofit Law clients, current and past, and friends in the community: Thank you for the opportunity to work with you. We greatly appreciate the work you do in the community and the trust you place in us to assist you. We look forward to being able to serve you in 2021. This is a reminder that all nonprofits have an obligation to submit various reports to the IRS and to the state each year. Below is an explanation of these key tax filings and their [...]
In case you hadn't noticed (ha), there's this important thing called an election coming up. I want to make sure you know the ways 501c3 organizations can be involved in getting people to vote. That's not "political" or lobbying-- just straight-up education and charitable work to ensure that everyone has a voice in our democracy and the election is robust, fair, and serves the public interest. Join Scholz Nonprofit Law this Thursday, September 17th at Noon for a webinar: Election 2020: 501c3s Have a Role REGISTER HERE. We will review key do's and don'ts and answer questions. Send me [...]
All tax-exempt organizations, including 501(c)(3), 501(c)(4) and 501(c)(6) organizations, must file some variation of Form 990 with the IRS. As a reminder, if your organization fails to file Form 990 for three consecutive years, your tax-exempt status will be revoked and your organization will have to reapply for tax-exempt status. If your organization’s fiscal year is the calendar year, your organization is required to file some version of the Form 990 by July 15, 2020 (which is the extended date because of COVID) or seek an extension. If your total revenues were $50,000 or less, you may file Form 990-N. Form 990-N, [...]