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Bellevue LifeSpring is Helping Families in Need During the COVID-19 Pandemic: How You Can Help

Posted by Emily Taibl on May 28, 2020 12:49:09 AM

Bellevue LifeSpring is making a huge impact on our community during this time of uncertainty and economic struggle. We caught up with Executive Director, Jennifer Fischer to learn more about their mission.

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Topics: Sweeney Conrad Passion

3 Tips For Getting Noticed By Recruiters From a Distance

Posted by Jamie Gardner, Audit Manager on May 26, 2020 5:51:35 PM

In the past few months, COVID-19 has made our world feel like it was turned upside-down. From the way we socialize to the way we work, almost everything has changed in a very short amount of time. I’m sure you have read about accounting firms that are no longer recruiting (or even worse - doing layoffs), or have friends who have had their internships canceled. Sweeney Conrad is thrilled to still be welcoming our summer interns in about a month, and currently planning how to best train them for a work-from-home internship. We anticipate having our normal recruiting levels this fall, and we are attending as many online career fairs and college events as we can!

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Topics: Sweeney Conrad People, Recruiting

Economic Uncertainty Safe Harbor Announced For PPP Loans Under $2 Million

Posted by Sweeney Conrad, PS on May 13, 2020 6:50:47 PM

Today, May 13th, the Treasury released FAQ #46, which provides that any borrower where they, together with affiliates, received Paycheck Protection Program (PPP) loans of less than $2 million are deemed to have met the economic uncertainty test. This decision comes on the heels of extensive discussion regarding how businesses that received PPP loans could verify that, due to economic uncertainty, they needed the funds to support their ongoing operations.

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Topics: Tax, News, COVID-19

Plan Sponsors: Answers to Your 5 Most Frequently Asked Questions About How COVID-19 is Affecting Retirement Plans

Posted by Wende Wadsworth, Audit Shareholder on May 5, 2020 5:08:06 PM
Many plan sponsors have questions about how the COVID-19 pandemic will affect their retirement plans, from changing or suspending employer contributions, to laying off or furloughing employees. Here are some common questions and answers to help employers navigate current challenges:
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Topics: Audit & Assurance

COVID-19 and Retirement Plans: How the CARES Act Affects Your Retirement Plan

Posted by Sweeney Conrad on May 5, 2020 3:50:20 PM

The Coronavirus Aid, Relief, and Economic Security (CARES) Act that was signed into law in late March is a massive piece of legislation that’s more than 880 pages long and carries a price tag of at least $2 trillion.

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Topics: Audit & Assurance, COVID-19

What's Your Fiduciary Duty During the COVID-19 Crisis?

Posted by Sweeney Conrad on May 5, 2020 3:14:23 PM

Employee benefit plan sponsors are facing many questions due to the coronavirus pandemic and COVID-19. One of the most important is simple: What is your fiduciary duty during the coronavirus crisis?

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Topics: Audit & Assurance

The Paycheck Protection Program and Health Care Enhancement Act

Posted by Sweeney Conrad on Apr 24, 2020 5:37:49 PM

On April 24, the President signed the Paycheck Protection Program and Health Care Enhancement Act, providing $310 billion in additional funding for the Paycheck Protection Program (PPP), $10 billion for the Economic Injury Disaster Loan program (EIDL), as well as funding for other critical healthcare needs.

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Topics: Tax, News, COVID-19

The SBA Provides Additional Guidance on the Paycheck Protection Program

Posted by Sweeney Conrad on Apr 15, 2020 6:26:08 PM

The Paycheck Protection Program (PPP) was created as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide cash to businesses impacted by the COVID-19 pandemic. These funds can be used to pay employees, along with other expenses such as health insurance premiums, rent or mortgage payments, and utilities. Loans under the PPP will be 100% guaranteed by U.S. Small Business Administration (SBA), and the full amount of the loans and any accrued interest may qualify for loan forgiveness.

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Topics: Tax, News, COVID-19

IRS Extends More Tax Deadlines to Include Individuals, Trusts, Estates, Corporations, and Others

Posted by Sweeney Conrad on Apr 10, 2020 11:16:14 AM

In response to the impact of the COVID-19 pandemic, the IRS announced last month that taxpayers have until July 15, 2020 to file and pay federal income taxes that were originally due on April 15. This extension comes with no late-filing penalty, interest, or late-payment penalty.

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Answers to 14 of the Most Commonly Asked Filing and Payment Deadline Questions

Posted by Sweeney Conrad, PS on Apr 7, 2020 8:04:00 PM

The IRS recently announced special Federal income tax return filing and payment relief in response to the COVID-19 pandemic. According to the IRS, these are some of the most common questions taxpayers are asking in regards to these recent changes.*

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Topics: Tax, News, COVID-19

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