On August 27, 2020, the Department of Health and Human Services (HHS) announced the Nursing Home Infection Control targeted distribution.
The GASB recently issued Technical Bulletin No. 2020-1 Accounting and
Financial Reporting Issues Related to the Coronavirus Aid, Relief, and
Economic Security Act (CARES Act) and Coronavirus Diseases.
Late on August 28th, the IRS issued additional guidance regarding the deferral of withholding and payment of the employee share of the Social Security tax as directed by President Trump on August 8th in a memorandum. As a reminder, this memorandum does not change an employee’s underlying tax obligation but rather just defers the payment of this tax obligation.
On August 24, 2020, the Small Business Administration (SBA) published an Interim Final Rule (IFR), governing forgiveness of Paycheck Protection Program (PPP) loans.