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COVID 19 Update 20

CARES Act Includes Payroll Tax Deferral and Employee Retention Credit

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, contains provisions related to taxation of employee benefits, compensation and wages. This article addresses the payroll tax provisions, specifically the payroll tax deferral and the employee retention credits. 

Our Friends and Associate Members at PKF O’Connor Davies, LLP provide a summary

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Whole Foods Workers Planning Strike Today

(This article is offered as a cautionary tale to encourage you to be sure you are doing everything you can to keep your employees safe)

Whole Foods workers are set to strike on Tuesday to protest what they say is a lack of employee protections amid the spread of the coronavirus.

Workers at the national grocery chain will call out sick to demand guaranteed sick leave to employees who self-isolate, reinstatement of health care coverage for part-time workers, double hazard pay, a commitment to ensuring workplaces stay clean and the closure of any store where a worker tests positive.

Read More at The Hill

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Manufacturers Push for Clarity, Consistency to Protect Workforce

Safely continuing operations amid evolving state and local restrictions is an ongoing challenge for many of our members, so the NAM, Council of Industry and other partners, will continue to push for clarity and consistency while updating you on the latest developments. NAM CEO Jay Timmons sent a letter to attorneys general, police chiefs and sheriffs calling on them to help manufacturers to operate safely and efficiently. This follows his letter to the nation’s governors.

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China Shows Strong Factory Activity in March

An official gauge of China’s manufacturing activity rebounded strongly in March as factory production resumed after the coronavirus epidemic was largely put under control in the country.

The official manufacturing purchasing managers’ index rose to 52.0 in March from a record low of 35.7 in February, the National Bureau of Statistics said Tuesday. The 50 mark separates expansion of activity from contraction.

Read More At Market Watch

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SUNY New Paltz Team 3D Prints Face Shields For COVID-19 Front Lines

The Hudson Valley Additive Manufacturing Center at SUNY New Paltz has its 3D printers up and running, turning out 3D-printed face shields for regional healthcare workers and others on the front lines of the COVID-19 pandemic.

If you can manufacture face shields – either by 3D printing or injection molding please reach out to Dan Freedman freedmand@newpaltz.edu 

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ZOOM Call with SBA Branch Manager Robert Piechota – Today at 1:00.  

The SBA will be the key implementer of the CARES act, the Federal Government’s response the economic fallout of the coronavirus pandemic.  

Robert Piechota SBA Branch Manager, will discuss key elements of the CARES Act as well as other related programs such as the Disaster Relief loans.  Mr. Piechota will also explain the key features of the Paycheck Protection Program.

Piechota joined the SBA in 2019 after six years directing the New York City College of Technology Small Business Development Center (SBDC) in Brooklyn. Piechota also previously ran his own consulting business and is a U.S. Army Veteran where he served in the Military Police Corps. He is a graduate of the U.S. Military Academy at West Point.

Register Here

 

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