Resource HubPosts By Category
Temporary Suspension of Reclamation Debits Scheduled to End August 17, 2020
8/4/2020
The Bureau of the Fiscal Service will remove the suspension that was instituted on April 2, 2020, regarding the process of debiting a Receiving Depository Financial Institution’s (RDFI) Federal Reserve Bank (FRB) master account.
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part V
7/23/2020
Our webinar provides practical real-world scenarios to highlight key changes since the start of PPP, including current events, hot topics, potential new bills, and latest guidance on forgiveness applications. Access webinar materials here.
AICPA Issues Accounting Guidance for PPP LendersTechnical Questions and Answers (TQA) under Section 2130
7/2/2020
PPP lenders have had many questions about how to account for these types of loans and report on their arrangements. The AICPA and its Depository Institutions Expert Panel have released several Technical Questions and Answers (TQA) under Section 2130. We've summarized the TQAs related to PPP Loans here.
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part IV
6/30/2020
Our webinar provides practical real-world scenarios and focuses on key considerations for PPP loan forgiveness, including the latest guidance on new forgiveness applications, and 8-week vs. 24-week decisions and pitfalls. Access webinar materials here.
PPP Loan Forgiveness Assistance
6/11/2020
If your business has received a Paycheck Protection Program (PPP) loan from the Small Business Administration (SBA), you may be concerned about meeting the loan forgiveness requirements. Our team can assist with reviewing forgiveness applications that present questions or need additional analysis and are here to address your questions regarding overall forgiveness.
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part III
6/10/2020
Our presentation held on Wednesday, June 10th discussed the Paycheck Protection Program Flexibility Act (PPPFA), properly documenting expenses and answering frequently asked questions so you can maximize your PPP loan forgiveness. Access webinar materials here.
Identifying Third-Party Senders for Financial Institutions
6/10/2020
The need to identify and control risk in ACH origination should be a top priority for all Originating Depository Financial Institutions (ODFIs). Identification of third-party senders is a key part of risk discovery. Below are some keywords that can be used to search your database and/or originator files to help identify possible third-party activity.
Nacha's Upcoming ACH Contact Registry Rule Requirement
6/4/2020
Financial institutions constantly seek ways to contact and communicate quickly with other financial institutions about specific ACH payment issues and exceptions. Nacha created the ACH Contact Registry Rule (the Rule) to help facilitate this process. Effective July 1, 2020.
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part II
5/28/2020
Our presentation held on Thursday, May 28th reviewed the latest guidance on properly documenting expenses for PPP loan forgiveness and the interim Final Rule. Access webinar materials here.
SBA Loan Review Procedures and Related Borrower and Lender Responsibilities
5/27/2020
On Friday, May 22, 2020, the U.S. Small Business Administration issued guidance for the Paycheck Protection Program Requirements related to SBA Loan Review Procedures and Related Borrower and Lender Responsibilities. We have prepared a summary of this guidance for banks and credit unions.
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part I
5/14/2020
In response to the impacts of COVID-19, many businesses have received funding through the Paycheck Protection Program (PPP) under the recently passed CARES Act and we have held a webinar on key considerations for PPP loan forgiveness. Access webinar materials here.
COVID-19 is Accelerating the Rise of the Digital Economy
5/8/2020
Digital transformation is necessary during this crisis, but that doesn’t mean it will look the same as it did before the pandemic. New problems and opportunities have come to light with greater urgency. For some businesses, the forces of disruption may be so great that the long-term strategic vision will need to be overhauled.
WEBINAR MATERIALS: How COVID-19 is Impacting Retirement Planning
5/7/2020
The Coronavirus Aid, Relief, and Economic Stimulus Act, or “CARES Act” brought important changes to retirement plans that every investor should be aware of. Learn about these changes, how they are impacting retirement planning, and what actions you should take to have an investment plan you can stick with to achieve peace of mind. Access webinar materials here.
Impact Of The Cares Act On Financial Institutions And Specialty Finance Entities
5/6/2020
COVID-19 has created significant uncertainty for financial institutions and specialty finance entities. CFOs and financial leaders can help their organizations on the path back to growth by leveraging all applicable CARES Act provisions in their accounting strategies. Here are highlights of some of the key financial statement areas that are impacted by the CARES Act to date.
CARES Act Impacts on Net Operating Losses: Frequently Asked Questions
5/3/2020
The CARES Act includes changes to the tax treatment of business net operating losses (NOLs) for corporations and other taxpayers. Given the significant role NOLs can play in increasing cash flow and helping to mitigate financial distress, we’ve compiled Frequently Asked Questions around NOLs to help break down the latest changes in the CARES Act and what they mean for your business.
WEBINAR MATERIALS: Staying Connected & Empowering Your Team Using Collaboration Tools
4/30/2020
When it comes to working remotely, using virtual tools, and leveraging technology, what can business owners and managers do today that will help ensure they emerge successfully from the COVID-19 pandemic? Access webinar materials here.
Documentation & Accounting for PPP Loan Forgiveness
4/21/2020
As many of our clients have already started receiving their Payroll Protection Program (PPP) loan proceeds, the Saltmarsh COVID Recovery Response Team is recommending guidelines for how these loans should be handled, both from the operations and accounting (recording on the books) standpoints.
A Return to Work in the New NormalHow companies should plan to return to work and emerge from COVID-19 stronger and smarter.
4/21/2020
As the response to the COVID-19 pandemic progresses, many companies have established operational crisis management teams and adjusted to global restrictions on work and movement. Executives are now beginning to ask the question: How are we going to return to work?
Federal Reserve Announces Main Street Business Lending Program as Part of Additional Actions to Provide Economic Aid
4/20/2020
On April 9, the Federal Reserve announced additional actions it will take to provide up to $2.3 trillion in loans to support the U.S. economy. The Federal Reserve believes this funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic.
Temporary Suspension of Debits Due to Lack of Response to an ACH Reclamation
4/7/2020
Under the U.S. Department of the Treasury, the Bureau of the Fiscal Service understands that there are some staffing challenges for financial institutions and at the Fiscal Service due to protocols associated with the Coronavirus outbreak. These challenges may result in the delay of the financial institution to respond and Fiscal Service’s ability to process ACH Reclamations in a timely manner.
Nacha Provides Relief Regarding Potential Rules Violations for Elevated Return Levels
4/6/2020
Nacha issued an ACH Operations Bulletin on April 2, 2020 to provide relief regarding potential Rules violations for elevated return levels. Businesses that originate pre-authorized ACH debits for services that have been interrupted may face an elevated risk of returns.
CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees
4/6/2020
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748) includes several relief provisions for tax-qualified retirement plans, expands health care flexible spending accounts so funds can be used for over-the-counter items, clarifies some health insurance plan questions, and, through year-end, allows employers to reimburse employees for student loan payments tax-free.
Individuals: What You Need to Know About the CARES Act
4/6/2020
On March 6, 2020, the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 was enacted, becoming the first of three Congressional relief and stimulus acts passed. This alert briefly summarizes the following relief provisions enacted in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020.
CARES Act Aids Employers Who Continue to Pay Employees
4/6/2020
Section 2301 provides a refundable payroll tax credit for certain wages paid to employees. Section 2302 allows employers to defer the deposit of certain employment taxes for as much as two years. Taken together, these provisions provide significant relief for employers and are designed to encourage employers to continue paying wages to employees during these unprecedented times.
Coronavirus Aid & Relief: Eligibility for CARES Act, SBA Lending and FFCRA
4/2/2020
Virtually everyone is impacted in some way by the virus and the flood of relief programs and decisions for both individuals and businesses can be overwhelming. As funding may be limited, it is important to act quickly.
Past Posts By Category
- Temporary Suspension of Reclamation Debits Scheduled to End August 17, 2020
- WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part V
- AICPA Issues Accounting Guidance for PPP Lenders
- WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part IV
- PPP Loan Forgiveness Assistance
- WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part III
- Identifying Third-Party Senders for Financial Institutions
- Nacha's Upcoming ACH Contact Registry Rule Requirement
- WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part II
- SBA Loan Review Procedures and Related Borrower and Lender Responsibilities
- WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part I
- COVID-19 is Accelerating the Rise of the Digital Economy
- WEBINAR MATERIALS: How COVID-19 is Impacting Retirement Planning
- Impact Of The Cares Act On Financial Institutions And Specialty Finance Entities
- CARES Act Impacts on Net Operating Losses: Frequently Asked Questions
- WEBINAR MATERIALS: Staying Connected & Empowering Your Team Using Collaboration Tools
- Documentation & Accounting for PPP Loan Forgiveness
- A Return to Work in the New Normal
- Federal Reserve Announces Main Street Business Lending Program as Part of Additional Actions to Provide Economic Aid
- Temporary Suspension of Debits Due to Lack of Response to an ACH Reclamation
- Nacha Provides Relief Regarding Potential Rules Violations for Elevated Return Levels
- CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees
- Individuals: What You Need to Know About the CARES Act
- CARES Act Aids Employers Who Continue to Pay Employees
- Coronavirus Aid & Relief: Eligibility for CARES Act, SBA Lending and FFCRA
- View All Posts
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