09/29/2020

Focus on Public Sector, Not-For-Profit, and Colleges and Universities: 2020 OMB Compliance Supplement Update

On August 18, 2020, the Office of Management and Budget (OMB) released the 2020 OMB Single Audit Compliance Supplement (Supplement).

08/03/2020

COVID-19: New Data Collection Form For HEERF Grant Funding Proposed by The Department of Education

The Department of Education (ED) released a proposed data collection form for the Higher Education Emergency Relief Fund (HEERF) on July 29, 2020.

07/15/2020

COVID-19: Extension of Certain Department of Education Due Dates

Due to the impact of the coronavirus (COVID-19) pandemic, the Department of Education extended due dates for certain reports to be submitted or disclosures made available to the public required by institutions of higher education via their Electronic Announcement 2020-07-10.

05/06/2020

COVID-19: PPP Loan Funding is Not Federal Assistance

There are certainly more questions than answers related to the CARES Act funding being issued as of late.

04/07/2020

COVID-19: CARES Act Impact on Student Financial Aid

On March 27, 2020, the President signed the CARES Act into law. The CARES Act includes a number of provisions to assist in providing financial stability for individuals and higher education institutions through assistance payments expected to be made; however, the CARES Act also provides for some changes to compliance requirements for higher education institutions and students.

03/30/2020

COVID-19: Colleges & Universities and the CARES Act

With institutions of higher education being some of the earliest organizations impacted by the pandemic, the CARES Act provides some relief to institutions as well as students.

03/13/2020

COVID-19: Department of Education COVID-19 Updates

The Department of Education has created a Coronavirus webpage, which will be updated frequently and can be found here.

03/21/2020

COVID-19: How Coronavirus is Impacting the Construction Industry

COVID-19 (officially SARS-CoV-2 or also referred to as novel Coronavirus) is everyday business and life as we know it. The United States Treasury Department announced that it would be pushing back the April 15 deadline to file tax returns and pay taxes owed on that date by 90 days, giving Americans three extra months to pay their 2019 income tax bills. This gives millions of individuals and C-Corporation businesses extra time needed to pay these out-of-pocket costs in light of COVID-19.

05/06/2020

COVID-19: Gaming and Hospitality Industry - Reopening from the Great Cessation

With the gradual reopening of gaming and hospitality facilities, RubinBrown’s business and consulting experts have outlined some of the reopening themes and suggested procedures being discussed and shared among clients and throughout industry.

04/24/2020

COVID-19: Small Casinos and Gaming Operations Can Now Apply for PPP Loans

The Trump administration eliminated a rule that had previously denied small casinos from accessing funds allocated for small businesses as part of the Paycheck Protection Program (PPP).

04/17/2020

COVID-19: CARES Act Payments to Tribal Governments

As part of the $150 billion Coronavirus Relief Fund, the CARES Act will provide payments to state, local, and tribal governments navigating the impact of the COVID-19 outbreak.

04/16/2020

COVID-19: SBA Revises Guidelines on Forgivable Loans, But The American Gaming Association Says, This Isn’t Enough

On April 14, 2020, the Small Business Administration (SBA) revised recent guidance that offered a little relief to a small segment of the gaming industry.

10/06/2020

Focus on Healthcare: Update to General and Targeted Distribution Post-Payment Notice of Reporting Requirements

On September 19, 2020, the Department of Health and Human Services (HHS) released a post-payment notice of reporting requirements aimed at the recipients of the general and targeted distributions of the Provider Relief Fund (PRF) as established in the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

09/14/2020

Focus on Healthcare: HHS Provider Relief Fund: $5 Billion Nursing Home Infection Control Targeted Distribution

On August 27, 2020, the Department of Health and Human Services (HHS) announced the Nursing Home Infection Control targeted distribution.

08/27/2020

Focus on Healthcare: HHS Provider Relief Fund - Update on Reporting Requirements for General and Targeted Distribution Recipients

On August 14, 2020, a notice detailing the timing of future reporting requirements was released for recipients of payments exceeding $10,000 or more in the aggregate from the Provider Relief Fund (PRF).

07/21/2020

COVID-19: Dentists Now Eligible for CARES ACT Provider Relief Fund

On July 10, 2020 the US Department of Health and Human Services (HHS) announced that dentists may now apply for the financial assistance through the Enhanced Provider Relief Fund Payment Portal. 

06/19/2020

COVID-19: Medicaid and Children’s Health Insurance Providers - $15 Billion in CARES Funding

On June 9th, 2020, the US Department of Health and Human Services (HHS) announced an expansion of its Provider Relief Fund.

05/05/2020

COVID-19: Healthcare Provider Relief Fund: Distribution of Additional $70 Billion COVID-19 Funding

In response to the COVID-19 pandemic, the US Department of Health and Human Services (HHS) allocated $100 billion dollars to healthcare providers as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES).

04/10/2020

COVID-19: $30 Billion of Stimulus Payments for Healthcare Providers Being Sent Starting Today, April 10, 2020

Today, April 10, 2020, the Department of Health and Human Services (HHS) began the delivery of $30 billion in relief funding to support healthcare-related expenses or lost revenue attributable to the COVID-19 pandemic.

04/07/2020

COVID-19: The Impact on Hospitals and Elective Medical Procedures

Though many sectors of the economy have been brought to a halt by COVID-19, global hospitals are under enormous pressure to meet the current high demand of incoming patients suffering from this respiratory illness.

04/01/2020

COVID-19: Expansion of the Medicare Accelerated and Advanced Payment Program

On Saturday, March 28, 2020, the US Centers for Medicare & Medicaid Services (CMS) announced an expansion of its Accelerated and Advance Payment Program (APP) for Medicare providers as part of the CARES act passed by the federal government.

03/27/2020

COVID-19: The Impact on the Use of Telehealth

COVID-19 has obviously caused a shock to the global economy and disrupted, on a massive scale, normal consumer behavior patterns, stalling a bullish economy into a decline.

04/14/2020

COVID-19: Colorado State Work-Share Program vs. the Paycheck Protection Program (PPP). Can I Use Both?

In Colorado, a question amongst businesses has recently come up related to the Colorado State Work-Share program and whether that program would nullify the federal Paycheck Protection Program (PPP). A lot of businesses are asking, could a company use both of these programs?

04/13/2020

COVID-19: Additional R&D Tax Credit Opportunities for Manufacturers During the COVID-19 Pandemic

Intensive research is underway for the development of a vaccine, rapid testing methods, and other new technologies during the COVID-19 global pandemic.

01/18/2021

Focus on Not-for-Profits: Is Your School Eligible for Emergency Assistance to Non-Public Schools?

You might be thinking that if your organization is not a live venue or you didn’t have a significant decrease in gross receipts in 2020 vs. 2019, then the 2021 Consolidated Appropriations Act (CAA) doesn’t have a lot to offer your organization.

09/29/2020

Focus on Public Sector, Not-For-Profit, and Colleges and Universities: 2020 OMB Compliance Supplement Update

On August 18, 2020, the Office of Management and Budget (OMB) released the 2020 OMB Single Audit Compliance Supplement (Supplement).

09/01/2020

Focus on Not-For-Profits: Deferral of Withholding and Payment of the Employee Share of the Social Security Tax

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.

07/30/2020

COVID-19: Missouri Non-Profit Relief and Recovery Grant Program

This week, Missouri Governor Mike Parson announced the Non-Profit Relief and Recovery Grant program.

05/08/2020

COVID-19: Not-for-Profit Organizations: Should We Keep or Return our Payroll Protection Program Loan?

When the Small Business Administration (SBA)’s Payroll Protection Program (PPP) launched as part of the CARES Act, many not-for-profit organizations, along with other entities, rushed to submit their applications to qualify for these loans and hopefully future loan forgiveness. The sense of scarcity and urgency was high as entities were applying at the same time the SBA was working to finalize the program specifics.

05/06/2020

COVID-19: PPP Loan Funding is Not Federal Assistance

There are certainly more questions than answers related to the CARES Act funding being issued as of late.

04/15/2020

COVID-19 Legislation: What It Means for Not-For-Profit Organizations

Not-for-profit organizations are navigating financial hardship and uncertainty caused by the COVID-19 pandemic. Fortunately, there are now numerous options available to ease these unprecedented situations.

03/23/2020

COVID-19: How Coronavirus is Impacting Not-for-Profit Organizations

On March 18, 2020, President Trump signed into law the Families First Coronavirus Relief Act (Act). The Act has many provisions impacting individuals, families, employees and employers.

01/06/2021

Focus on Public Sector, Not-For-Profit, Colleges and Universities: 2020 OMB Compliance Supplement Addendum Update

On December 22, 2020, the Office of Management and Budget (OMB) released the 2020 OMB Supplement Addendum (Addendum) to address the largest new federal programs established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

09/29/2020

Focus on Public Sector, Not-For-Profit, and Colleges and Universities: 2020 OMB Compliance Supplement Update

On August 18, 2020, the Office of Management and Budget (OMB) released the 2020 OMB Single Audit Compliance Supplement (Supplement).

09/03/2020

Focus on Public Sector: GASB Technical Bulletin No. 2020-1

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.

07/23/2020

COVID-19: AICPA Issues Frequently Asked Questions Document For State and Local Governments

The American Institute of Certified Public Accountants (AICPA) recently issued a nonauthoritative document, FAQs – State and Local Government Financial Statement Accounting and Auditing Matters and Auditor Reporting Issues Related to COVID-19, for the use of auditors and preparers of financial statements in accordance with Governmental Accounting Standards issued by the Governmental Accounting Standards Board (GASB).

05/06/2020

COVID-19: PPP Loan Funding is Not Federal Assistance

There are certainly more questions than answers related to the CARES Act funding being issued as of late.

04/13/2020

COVID-19: CARES Act will Release Billions of Federal Funding into the Economy

The CARES Act will release billions of dollars in federal funding into the system to be administered by states and federal agencies.

04/07/2020

COVID-19: The Public Sector Waits Patiently as the GASB Considers Postponements

The Government Accounting Standards Board (GASB) is working on several projects right now that could provide highly anticipated relief to the public sector.

03/25/2020

COVID-19: Will Reporting Deadlines be Postponed for Governments? 

The effect of COVID-19 on the public sector is constantly evolving, and as a result, state and local governments continue to adapt and react every day. One thing is certain: there will be several tangible and intangible effects on local governments as a result of COVID19.

03/25/2020

COVID-19: How Coronavirus is Impacting the Transportation Industry

What is essential business? Are my customers and essential business? Who is an essential employee? Am I an essential employee? These are questions that we did not find ourselves asking a couple of months ago but are now forced to examine.