If revenues are the measuring point for the impact of COVID-19, the construction industry has been spared the drastic financial impacts that other industries have seen, but they have still been faced with multiple disruptions.
Documenting Late 401(k) Plan Deposits Due to COVID-19
The Department of Labor (DOL) has provided relief for plan sponsors who have been late remitting employee contributions to their service providers because of the pandemic, but plan sponsors still have an obligation to accurately document what caused the delay.
Fall 2020 Nonprofit Standard Newsletter
Stay abreast of the continuing impacts the coronavirus is having on the nonprofit industry and ways to adapt to all the changes, as well as to catch up on key trends in the nonprofit industry!
Businesses Should Prepare Now to Issue New IRS Form 1099-NEC By January 31, 2021
For non-employee compensation paid during 2020, payers must provide Form 1099-NEC (instead of Form 1099-MISC) to the recipients and to the IRS no later than January 31, 2021.
City of Meridian Offering Grants for Small Businesses
The Meridian City Council has designated $1 million from the City’s CARES Act funding to provide grants to assist small businesses impacted by COVID-19.
2020 Nonprofit Benchmarking Survey is Here!
BDO’s annual benchmarking survey, Nonprofit Standards, guides organizations in the discovery of untapped resources and opportunities to navigate a post-COVID world.
WEBINAR: 2020 Retirement Plan Update – COVID Edition
Our special guest speaker, Ben Gibbons of Holland & Hart, discusses the latest retirement plan-related COVID-19 guidance and how it impacts plan sponsors and their retirement plans.
Evolution of Your Control Environment During a Global Pandemic
Current uncertainty continues to evolve, making it difficult for organizations to evaluate the impact on their control environments. As companies move to remote operations, or need to modify their workforce, an assessment over the control environment is required to determine if it is operating as it had been prior to the rapid changes.
What Plan Sponsors Need to Know About Layoffs and Partial Plan Terminations
Based on IRS rules, a partial plan termination can occur if approximately 20 percent or more of plan participants are terminated by the plan sponsor as a result of an action, such as a plant closure, a decision to downsize, or the termination of a product line. The reduction can accumulate over one or more plan years and still be classified as a partial termination.
PPP Forgiveness Changes Passed as Trump Signs Bill
In another win for small businesses, they now have an extended period of time to spend PPP funds and still qualify for forgiveness of the loans.