COVID-19 Resources for Professional Services Firms

Families First Coronavirus Response Act (FFCRA)

On March 18, 2020, the Families First Coronavirus Response Act (FFCRA) was signed into law. The FFCRA covers a wide range of emergency provisions to provide relief to individuals, families, and businesses along with the expansion of the Family Medical Leave Act (FMLA) and additional Paid Sick Time. Additionally, the US Department of Labor has issued some specifics around who this applies to and how it will be administered. The links below are the best resources we have found, along with a summary poster to inform your employees. Please take a look at these to determine if you have employees who will be eligible.

IRS & COVID-19 Tax Credits

FFCRA Questions & Answers

Fact Sheet for Employees 

Fact Sheet for Employers

FFCRA Employee Rights Poster

CARES Act and the Paycheck Protection Program

With the passage of the CARES Act, the Payroll Protection Act provides timely support to keep your business open and employees paid. The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). More information and guidelines will be forthcoming this and next week. We will endeavor to keep our information as current as possible. We have found this site to contain a nice summary of the CARES Act.

Here are some additional links you may find helpful:

U.S. Small Business Administration 

IRS Coronavirus Tax Relief

SBA Coronavirus Loan Resources 

Complete the form on the right for assistance with setting up Deltek Vision or Vantagepoint for payroll or tracking expenses for IRS credits.