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There are numerous relief programs available to lessen the burden of employee expenses and help businesses survive, including pre-existing benefits as well as benefits released as part of the Families First Coronavirus Response Act (the FFCRA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. However, each business is faced with determining which relief programs will have the most positive impact on their business, while also ensuring the benefits they choose can work together.

Baker Tilly’s coronavirus benefit coordination matrix not only explains who can use each benefit but also how each benefit coordinates with others.

Download the coronavirus benefit matrix

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A preview of the matrix is shown below, highlighting the Paycheck Protection Program:

Paycheck Protection Program (PPP)
A PPP loan is a small business loan issued by private lenders and fully guaranteed by the federal government. The principal purpose of this loan is to help employers retain their employees. The loans are intended to cover eight weeks of payroll expenses, applied for at any date between Feb. 15, 2020, and Dec. 31, 2020.

A key component of the loan is that it may be fully or partially forgiven eight weeks after the loan is taken, if borrowers verify the loan proceeds were properly used for payroll and other related costs. The extent of forgiveness depends on factors relating to employee retention.

A small business (as defined by the Small Business Act (SBA) with 500 or fewer employees or a small business that otherwise meets the SBA’s size standards (if employing more than 500 employees)

Section 501(c)(3) not-for-profits with 500 or fewer employees; sole proprietors; independent contractors; gig economy workers; self-employed individuals

Restaurants, hotels and other “accommodation and food services” coded businesses are eligible if each location has 500 or fewer employees

Independently owned franchises with under 500 employees are also eligible when approved by the SBA

Employers taking out a small business loan under the PPP will not be permitted to take the employee retention credit

Borrowers may apply for a PPP loan in addition to:

  • Other SBA financial assistance, so long as the PPP loan is not used for the same purpose as the other SBA loan(s); and
  • An emergency EIDL (see in full matrix), as long as: (1) the PPP loan is not used for the same purpose; and (2) any grant received under the EIDL reduces the forgiveness amount of the PPP loan

Download the matrix to learn more about which benefits may help your business during this challenging time, such as:

  • Employee retention credit
  • Payroll tax deferral
  • Emergency Paid Sick Leave Act credit
  • Emergency Family and Medical Leave Expansion Act credit
  • Work Opportunity Tax Credit
  • Emergency Economic Injury Disaster Loan
  • R&D credit payroll tax offset

Download the coronavirus benefit matrix

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