COVID-19 Resources

Summary of the American Rescue Plan Act of 2021Summers Compton Wells LLC has prepared a summary regarding the latest installment of COVID-19 relief and stimulus legislation, the American Rescue Plan Act of 2021. This summary provides information on new and expanded grant programs and tax benefits for businesses and employers, including: The State Small Business Credit Initiative Economic Injury Disaster Loans The Restaurant […]

Summary of Second Draw PPP Loan ProgramSummers Compton Wells has prepared a summary of the new Second Draw PPP Loan Program that may be helpful for borrowers who received a first round PPP loan and still had a 25% reduction in gross receipts due to COVID-19. These loans are available beginning the week of January 11, 2021. The application deadline is […]

Summary of First Draw PPP Loan ProgramSummers Compton Wells has prepared a summary of the recently re-opened First Draw PPP Loan Program that may be helpful for eligible borrowers who did not previously receive PPP loans.  These loans are available beginning the week of January 11, 2021. The application deadline is March 31, 2021. For more information, see the summary linked […]

EEOC Issues New Guidelines For COVID-19 Vaccines in the WorkplaceThe Equal Employment Opportunity Commission (EEOC) has just issued its initial guidance on COVID vaccinations in the workplace, including whether an employer can mandate vaccine usage. The EEOC clarified that requiring a vaccine is not a “medical examination” as that term is used under the American with Disabilities Act (ADA), even if it is administered […]

IRS Offers Relief For 1031 ExchangesTreasury Notice 2020-23, released April 9, 2020 provides some relief to taxpayers engaged in like-kind exchanges. The full notice is available here: https://www.irs.gov/pub/irs-drop/n-20-23.pdf The Notice provides an extension to July 15, 2020 for taxpayers whose 45th day identification period or 180th day exchange period fall between April 1, 2020 and July 14, 2020. Likewise, taxpayers […]

IRS Initiatives in Response to Covid-19 CrisisThe Internal Revenue Service has announced a series of new initiatives to assist taxpayers during the COVID-19 crisis, including extending the deadline for filing federal income tax returns to July 15, 2020, and providing immediate relief through the People First Initiative, which includes, but is not limited to, relief for taxpayers relating to Installment Agreements, […]

IRS issues warning about Coronavirus-related scamsThe IRS has issued a warning about Coronavirus-related scams, and a reminder to watch out for schemes tied to economic impact payments. From the warning: “We urge people to take extra care during this period. The IRS isn’t going to call you asking to verify or provide your financial information so you can get an […]

Employers Required to Post NoticeThe Family First Coronavirus Response Act (FFCRA) requires employers to post or otherwise provide notice to employees regarding expanded rights under the Family and Medical Leave Act (FMLA) by April 1, 2020.  All covered employers are required to display and keep displayed the poster linked below. The poster must be displayed in a conspicuous place […]

Coronavirus Aid, Relief, and Economic Security (CARES) ActSummers Compton Wells LLC has been closely monitoring legislative and regulatory developments concerning the COVID-19 (coronavirus) pandemic to help business owners understand how to respond to the coronavirus pandemic.  Updated April 3, 2020. CARES Act The firm has prepared some resources that might be useful to small businesses, including self-employed individuals and sole-proprietors, under the […]

St. Louis Area Authorities Issue “Stay at Home” OrdersDue to the spread and threat of COVID-19, authorities in St. Louis City, St. Louis County, St. Charles County, and Jefferson County have issued Orders for residents to stay at home unless engaged in essential business. The Order for St. Louis County went into effect on March 23, 2020 at 12:01 a.m. and will continue […]