The CARES Act
Advance Payments and Waivers – CMS
Guidance and Other Relief
State and Federal tax Updates
CA Unemployment and Family Leave – SDI
AB 80: A Bill That Will Allow Physicians to Deduct PPP Expenses on State Taxes
February 23, 2021: The bill excludes covered loan amounts from the CARES program from gross income, and would allow for the deduction of normal business expenses for community business that received a forgiven Paycheck Protection Program (PPP) Loan. Read more here.
The CARES Act
December 17th, 2020
HHS Begins Distributing Over $24 Billion in Phase 3 COVID-19 Provider Relief Funding. The Health Resources and Services Administration (HRSA) has completed its review of Phase 3 applications from the Provider Relief Fund (PRF) program and will distribute $24.5 billion to over 70,000 providers. Click here for more information…
On April 24th, 2020, the CARES Act Provider Relief Fund began distributing an additional funds for Medicare facilities and providers impacted by COVID-19 (Read more about the process here). The CARES Act Provider Relief Fund remains active and is currently distributing additional funds (see above). If you have not already started an application for CARES Act Relief, click here for the CARES Act Provider Relief Fund Application Guide. The Provider Relief Fund also has funds to distribute specifically for care of uninsured patients related to COVID-19. Providers can access the portal to register for the program at the CARES Act Provider Relief Fund page or at COVIDUninsuredClaim.HRSA.gov.
Note: As of August 8, 2020, THE PAYCHECK PROTECTION PROGRAM IS NOW CLOSED. In addition, the $10,000 EIDL ADVANCE GRANT IS NO LONGER AVAILABLE. If these programs become available again, we will continue to provide information and links below.
The CARES Act established a number of new financial assistance programs containing $376 billion in relief. These include:
Paycheck Protection Program
Designed to keep workers on the payroll, SBA loans that will be forgiven if all employees are kept on the payroll for 8 weeks and monies are used for specific allowable uses.
An SBA loan advance up to $10,000 for loss of revenue due to COVID-19 that does not have to be repaid. Applies to businesses with less than 500 employees.
Express Bridge Loans
Loans up to $25,000, rapidly disbursed. Note: these loans require an existing relationship with an SBA Express Lender.
SBA Debt Relief
For existing loans, includes the payment of principal, interest, fees by the SBA, as well as greater allowances for deferment.
CMA/SBA Webinar for Physicians: COVID-19 Economic Relief
6/3/020, 12:15pm – 1:15pm
Representatives from the U.S. Small Business Administration will be joining the California Medical Association to present a webinar on the economic relief available to physicians under the CARES Act.
What the CARES Act Means for Doctors
Jim Dahle, 3/30/020
Last Friday, Congress rammed through the Coronavirus Aid, Relief, and Economic Security Act. Today, I’m just going to be discussing the CARES Act itself and what means for high-income earners like doctors.
The Small Business Owner’s Guide to the CARES Act
The Senate Committee on Small Business and Entrepreneurship
Explanations of what the different components of the CARES Act mean to you, with FAQ’s, useful links, and even counseling and training assistance to get you up to speed and guide you through the process.
Getting Cash for Your Small Business Through the CARES Act
Brain Thompson, 4/3/2020
With three stimulus bills already passed, the last of which was 800 pages, it’s hard to know where to focus. I’ll explain the main two ways your business can get cash now that the CARES Act is law.
CMS Advanced Payments and Waivers
As part of the response to the Coronavirus pandemic, CMS has expanded the Accelerated & Advance Payment Program to increase cash flow to providers and suppliers to account for the likely disruption in claim submission or processing.
CMS: AAPP Fact Sheet
Explanations of eligibility requirements,
the payment requesting process,
and payment amounts, with links to your
Medicare Administrative Contractor
An exhaustive listing of CMS waivers,
including for privileging, licensure and
certification, for supervision of non-
physician providers, and more.
Guidance and Other Relief Resources
CMA: Financial Assistance Available to Practices
A layout out of financial assistance programs currently available to physician practices and small businesses, offered by both the federal government and the State of California.
Anesthesia Foundation COVID-19 Loan for Early Career Anesthesiologists
A 0% interest loan up to $7500 that becomes due 2 years after the disbursement for anesthesiologists that graduated on or after June 30, 2016. Qualification: must be an active ASA member.
US Chamber of Commerce: Coronavirus Small Business Guide
Complete coronavirus coverage, updated daily with new resources to assist you and your business. Scroll down to “Stimulus Aid and SBA Resources” for excellent articles to help you navigate the changes to your practice.
Pandemic Credit Card, Banking, and Debt Relief
To help you navigate the relief options currently available in the U.S., Experian has compiled a list of major financial and non-financial institutions’ websites where you can find more information on relief measures.
Forbearance Info for Students, Borrowers, and Parents
If you’re concerned about your studies or loan repayment, this site can help you understand what to do. We’ll be adding information for students, borrowers, and parents to this page on a regular basis, so please check back frequently.
State and Federal Tax Updates
IRS Tax Relief and EI Payments
Extensions, exemptions, and credits. The IRS is offering tax help for taxpayers and businesses – including health plans – affected by coronavirus (COVID-19).
California Tax Relief
During this time of need, we’re supporting CA individuals and business affected by COVID-19 so they can focus on their health and well-being.