How Will the SBA Evaluate Good Faith for PPP Borrowers’ Certifications?
Midday on May 13, 2020, the SBA issued FAQ #46 providing clarification on how they would evaluate whether Paycheck Protection Program (PPP) borrowers’ certifications of need were made in good faith....
View ArticleSome Partnerships and Seasonal Employers Eligible for Additional PPP Loan Funds
On May 13, 2020, the SBA issued its interim final rule on loan increases, allowing partnerships and seasonal employers to receive an additional loan disbursement if their Paycheck Protection Program...
View ArticleDOL Issues Final Regulations on Electronic Delivery of Retirement Plan Notices
Last fall the Department of Labor (DOL) proposed regulations that address the electronic delivery of retirement plan notices. These regulations, which provide plan sponsors with many more circumstances...
View ArticleRelief Available to the Agribusiness Industry through the Coronavirus Food...
The Coronavirus Food Assistance Program provides direct relief to producers who faced price declines and additional marketing costs due to COVID-19. This program comes as part of the CARES Act, a $2...
View ArticleTechnology Things to Consider in Your Return to Work Plans
In the scramble to move to a remote work force, many companies were forced to rush through the process of getting their networks ready for employees to access company data from home. Now that many...
View ArticleSurviving the Silver Tsunami: How Local Governments Need to Prepare
As the pool of qualified administrators, finance directors and other key government leadership positions continues to shrink and the pool of current leaders who are eligible to retire continues to...
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Moving from Unconscious Bias to Unconscious Inclusion
Unconscious, or implicit bias, is something that we are learning about here at BerganKDV. Our goal is to move our thoughts and actions along a spectrum toward an environment where we are unconsciously...
View ArticlePassage of Paycheck Protection Program Flexibility Act Gives Extensions to...
On June 5, 2020 the Paycheck Protection Program (PPP) Flexibility Act of 2020 was signed into law. The passage of the PPP Flexibility Act of 2020 should be a big win for borrowers, but business owners...
View ArticleLessons Learned from COVID-19: The Importance of Operating Reserves for...
As we start to see COVID-19’s grip on our communities loosen, many employees are returning to work and assessing how the pandemic has impacted their organizations. For nonprofit organizations, having...
View ArticleUpdates on PPP Loan Forgiveness and New Forms Released by SBA
The Small Business Administration (SBA) released the loan forgiveness application 3508 Form and instructions (including 3508 EZ and instructions) on June 16, 2020. The new forms reflect changes enacted...
View ArticleWealth Management Quarterly Market Update: July 2020
Equity market behavior year-to-date can be described as a tale of two quarters. The Standard and Poor’s (S&P) 500 declined 19.6% in the first quarter of 2020, while in the second quarter it posted...
View ArticleThings to Consider Before Filing a Protective Claim Refund Letter Before July 15
A recent decision by the U.S. Supreme Court to hear a case challenging the constitutionality of the Affordable Care Act (ACA) could result in a refund of some portion of taxes paid for either the...
View ArticleThe CARES Act and Charitable Giving: Opportunity for Nonprofits and Their Donors
The Coronavirus Aid Relief and Economic Securities Act, also known as the CARES Act, was enacted by Congress in March 2020 and includes significant tax relief and charitable giving benefits. This Act...
View Article5 Reasons Not to Rush Into PPP Loan Forgiveness
Many business owners are beginning to receive Paycheck Protection Program (PPP) loan forgiveness applications from their lenders so we are reaching out with information to address some of the common...
View ArticleWhat Retirement Plans Sponsors Should Do Now to Avoid Surprises in 2021
The ripple effect being caused by COVID-19 seems to cause a never-ending list of things for business owners to consider. One thing that you may not be thinking of yet is the impact COVID-19 is having...
View ArticleIowa COVID-19 Local Government Relief Fund
Government relief from the state of Iowa is on the way for city and county government entities. Iowa Governor Kim Reynolds has allocated $125 million for local governments for direct expenses incurred...
View ArticleIowa Department of Revenue Releases Updated State Sales Tax Guidance on Grain...
Taxability surrounding grain bins has been a hot topic this past year in Iowa. Part of reason is the ambiguity contained in the new law (423.3(16A), which became effective July 1, 2019. The new code...
View ArticlePresident Executive Order – Deferring Payroll Tax Obligations
President Trump has signed an executive order titled “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster” directing the Treasury Department to issue guidance...
View ArticleOpen Enrollment for 2020 Going Virtual: Things to Consider
It wouldn’t be an article about 2020 without talking about the impact that COVID has on this fall’s open enrollment. Traditional methods like in-person meetings, handing out forms and sitting down with...
View ArticleOnline and Offline Phishing Scams You Need to Watch For
Most everyone is aware that scammers use email or text messages to trick you into giving them your personal information. By phishing for your information, they can gain access to your email, bank or...
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