During these challenging times, Valles Vendiola LLP is here to help you thrive. As you adapt your practice to the new normal, we will assist you in keeping track of new laws, regulations, and other tax and accounting changes that can affect your business. Feel free to peruse the information and other resources found on this page.
COVID-19 Safety Guidelines
Valles Vendiola LLP has continued its operation throughout the pandemic. By strictly adhering to the safety guidelines issued by the federal, state, and local governments, we were able to provide our clients with exceptional services while ensuring the safety of every stakeholder. As the country transitions to the new normal, we will continue to observe minimum health and safety protocols in all our offices.
- Safety. This remains our top priority here at Valles Vendiola LLP. We continue to operate on a skeleton workforce to maintain social distancing in all our offices. The rest of our staff are on remote work setup in the meantime. We also limit our in-office meetings and gatherings.
- Communication. We keep our communication lines open to continue the delivery of exceptional services to our clients.
- Documents. You can upload your documents at our Client Portal. For assistance in setting up your account, please email us at partner@vallesvendiola.com.
- Resources. Please check this page regularly to keep yourself updated with updates regarding federal assistance programs, new regulations, tax incentives, and other developments in tax and accounting.
- Future. We will closely monitor and comply with all federal, state, and local regulations.
The safety of our staff and clients is our top priority here at Valles Vendiola LLP. With your cooperation, we will get through this health crisis as a nation.
For further inquiries, please call us at 718-275-1422.
Coronavirus Aid, Relief, and Economic Security (CARES) Act Information Highlights
CARES Act Overview
Small Business Owners Guide to the CARES ACT – U.S. Senate Committee on Small Business & Entrepreneurship
Summary of Key Tax-Related Provisions – National Law Review
IRS: Three new credits are available to many businesses hit by COVID-19 – Internal Revenue Service
Employee Retention Tax Credit
Guide to the Employee Retention Tax Credit – U.S. Chamber of Commerce
Treasury Encourages Businesses Impacted by COVID-19 to Use Employee Retention Credit – U.S. Department of the Treasury
Employee Retention Credit under the CARES Act FAQs – Internal Revenue Service
Provider Relief Funds (Medicare Fee-for-Service [FFS] Payment)
Medicaid, Medicaid Managed Care, CHIP, and Dentist Provider Relief Fund Payment Terms and Conditions – Department of Health and Human Services
Provider Relief Fund – Department of Health and Human Services
Provider Relief Fund Payment Attestation Portal – Department of Health and Human Services
CARES Provider Relief Fund Payment Portal – Department of Health and Human Services
General Distribution Fund FAQs – Department of Health and Human Services
COVID-19 Uninsured Program Portal – Department of Health and Human Services
Taxpayers with Net Operating Losses
IRS provides guidance under the CARES Act to taxpayers with net operating losses – Internal Revenue Service
Individual Recovery Rebate
Economic Impact Payments: What You Need to Know – Internal Revenue Service
Social Security Recipients Will Automatically Receive Economic Impact Payments – Internal Revenue Service
SBA EIDL/PPP
Economic Injury Disaster Loans (EIDL)
SBA Now Accepting New Applications for Economic Injury Disaster Loans and Advance (06/15/20) – U. S. Small Business Administration
COVID-19 Economic Injury Disaster Loan Application – U. S. Small Business Administration
Paycheck Protection Program (PPP)
Business Loan Program Temporary Changes; Paycheck Protection Program – Treatment of Owners and Forgiveness of Certain Nonpayroll Costs (updated 08/11/20) – U. S. Small Business Administration
FAQs for Lenders and Borrowers (updated 08/11/20) – U. S. Small Business Administration
Frequently Asked Questions on PPP Loan Forgiveness (08/11/20) – U. S. Small Business Administration
Interim Final Rule – Appeals of SBA Loan Review Decisions Under the PPP (08/11/20) – U. S. Small Business Administration
Procedures for Lender Submission of Paycheck Protection Program Loan Forgiveness Decisions to SBA and SBA Forgiveness Loan Reviews (07/23/20) – U. S. Small Business Administration
PPP Lender Agreement (07/20/20) – U. S. Small Business Administration
PPP Lender Agreement (Non-Bank) (07/20/20) – U. S. Small Business Administration
Extension of Authority to Guarantee Paycheck Protection Program Loans (07/06/20) – U. S. Small Business Administration
How to Calculate PPP Loan Amounts (06/26/20) – U. S. Small Business Administration
Refinance of EIDL Loans with PPP Loan Proceeds and Lender Remittance of EIDL Refinance Proceeds to SBA (06/19/20) – U. S. Small Business Administration
Interim Final Rule on Revisions to the Third and Sixth Interim Final Rules (06/19/20) – Federal Register
Additional Revisions to First PPP Interim Final Rule (06/18/20) – Federal Register
PPP Borrower Application Form (updated 06/15/20) – U.S. Small Business Administration
PPP Loan Forgiveness Application (revised 6/16/20) – U.S. Small Business Administration
PPP Loan Forgiveness Application Instructions for Borrowers (6/16/20) – U.S. Small Business Administration
PPP EZ Loan Forgiveness Application (6/16/20) – U.S. Small Business Administration
PPP EZ Loan Forgiveness Application Instructions for Borrowers (6/16/20) – U.S. Small Business Administration
Interim Final Rule on Revisions to the First PPP Interim Final Rule (06/16/20) – Federal Register
SBA and Treasury Announce New and Revised Guidance Regarding the Paycheck Protection Program (06/16/20) – U.S. Small Business Administration
Paycheck Protection Program Flexibility Act (06/05/20) – Library of Congress
Second Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan and Lender Reporting (05/26/20) – Federal Register
Requirements – Loan Forgiveness (05/28/20) – Federal Register
SBA Loan Review Procedures and Related Borrower and Lender Responsibilities (05/28/20) – Federal Register
Extension of Limited Safe Harbor with Respect to Certification Concerning Need for PPP Loan Request (05/19/20) – Federal Register
Interim Final Rule on Disbursements (05/04/20) – Federal Register
PPP Information Sheet for Lenders – U.S. Department of the Treasury
PPP Information Sheet for Borrowers – U.S. Department of the Treasury
Active SBA Lenders Located in Arizona – U.S. Small Business Administration
Interim Final Rule on Affiliations (04/15/20) – Federal Register
SBA Paycheck Protection Program Interim Final Rule (04/15/20) – Federal Register
Joint Statement by SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin on the Resumption of the Paycheck Protection Program – U.S. Small Business Administration
Small Business Guide and Checklist – U.S. Chamber of Commerce
Small Business Guidance and Loan Resources – U.S. Small Business Administration
FFCRA
Paid Leave under the Families First Coronavirus Response Act (FFCRA) – Federal Register (will be updated on April 6th when final copy is published.)
U.S. Department of Labor Announces New Paid Sick Leave and Expanded Family and Medical Leave Implementation – U.S. Department of Labor
Families First Coronavirus Response Act: Employee Paid Leave Rights – U.S. Department of Labor
Families First Coronavirus Response Act: Employer Paid Leave Requirements – U.S. Department of Labor
Employer Tax Credits – Paid Sick and Family Leave
Treasury and IRS Release FAQs to Help Small and Midsize Businesses Navigate Paid Sick and Family Leave Tax Credits – U.S. Department of the Treasury
Families First Coronavirus Response Act FAQs – Internal Revenue Service (IRS)
COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses FAQs – Internal Revenue Service
Other Links
National Resources
Internal Revenue Service
U.S. Chamber of Commerce
Small Business Administration
U.S. Department of the Treasury
U.S. Department of Health and Human Services