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What Employers Should Know About the COVID Vaccine

February 23, 2021 by Reynolds & Rowella Leave a Comment

BY KATIE HALL, REYNOLDS + ROWELLA

The COVID-19 vaccine is providing many employers with the hope that things may soon return to normal—or as normal as can be considering a year-plus long pandemic. The vaccine certainly provides a glimmer of light at the end of the tunnel, but there are few things employers should consider while planning how to best protect their employees.

Let’s start with the most common questions:

Can we require all employees to get vaccinated?

The simple answer: Yes, but with exemptions. On December 16th, 2020, The Equal Employment Opportunity Commission (EEOC) released guidance specific to COVID-19 vaccination programs. While they have not expressly stated that employers can require vaccinations, it can be inferred that it may be permissible with certain exemptions. Specifically, employers must be prepared to exempt those with disabilities, pregnancy-related medical conditions, and/or religious objections.

The EEOC’s guidance states that the Americans with Disabilities Act (ADA) allows employers to require that individuals “shall not pose a direct threat to the health or safety of individuals in the workplace. However[…] if a vaccination requirement screens out or tends to screen out an individual with a disability, the employer must show that an unvaccinated employee would pose a direct threat due to a ‘significant risk of substantial harm to the health or safety of the individual or others that cannot be eliminated or reduced by reasonable accommodation.’” If an employee refuses to obtain the vaccine due to disability, the employer should evaluate whether they pose a direct threat by evaluating

  • the duration of the risk;
  • the nature and severity of the potential harm;
  • the likelihood that the potential harm will occur;
  • and the imminence of the potential harm.

If it is concluded that an unvaccinated employee would pose a direct threat to the worksite, the employer must then consider whether a reasonable accommodation can be made, such as allowing the employee to work from home or providing another mutually agreed-upon work arrangement.

Title VII of the Civil Rights Act of 1964 (Title VII) also provides certain exemptions. Once an employer is made aware of an employee’s sincerely held religious beliefs, practice, or observance that prevents them from getting the vaccine, the employer must provide a reasonable accommodation unless it results in undue hardship (as determined under Title VII) to the employer.

Can we fire an employee that refuses to get vaccinated?

If an employee cannot get vaccinated due to a disability or sincerely held religious beliefs and no reasonable accommodation is possible, then an employer can “exclude” the employee from the workplace. This does not mean that the employee can be terminated, but that the employer will need to determine if any other rights apply under federal, state, or local authority before making that decision.

Employers may be faced with a difficult situation if employees refuse the vaccine outside of protected reasons, especially if a large number of employees refuse. Employers may have to choose between firing a potentially large number of employees or taking these refusals on a case by case basis, which may leave the employer open to discrimination claims.

So we can require the vaccine- but should we?

It depends. In certain environments, such as in healthcare, a vaccination requirement may make sense so long as employers comply with ADA and Title VII. But what about for those who are not considered frontline workers? For these employers, the answer becomes a bit grey. Employers should consider the climate surrounding the vaccine, as well as the fact that many Americans are hesitant to get it. A mandatory vaccination program may take a hit on employee morale in certain instances. Additionally, employers should also be aware of potential worker’s comp claims should the requirement result in an employee developing complications from the vaccine.  

What about providing incentives to employees to get the vaccine?

Currently, there is a lack of legal guidance from the EEOC surrounding incentives to get the vaccine. However, many large corporations are forging ahead with incentives despite this. Some of these incentives include one-time cash payments and paid time off to receive the vaccine. If an employer chooses to provide incentives, they should also consider how that may impact those that cannot get the vaccine due to disability or religious reasons. In order to avoid claims of discrimination, employers may want to provide other avenues to receive the incentive, such as taking a training on COVID safety precautions or periodic COVID testing.

As we await further guidance on this topic, providing education surrounding the vaccine in conjunction with a voluntary vaccine program may be employer’s safest bet.

As a Connecticut employer, what can I do now?

CT employers play a large part in getting CT residents vaccinated. The CT.gov website provides employers with information they need to help their workers gain access to the vaccine. According to the website, “Employers who have Phase 1b-eligible workforce should complete [the online VAMS enrollment form] in order to enroll in VAMS and enable their employees to schedule a vaccine appointment. Employers who do not have employees eligible in Phase 1b do not need to take any action at this time.”

Once an eligible employer has registered with VAMS, the employer can upload a roster of employees. Employees listed on the roster will receive an email from VAMS inviting them to schedule an appointment to receive the vaccine.

As with all things COVID-related, the rules are regularly in flux. Employers should check EEOC’s latest guidance prior to finalizing any vaccination programs or incentive plans for their workforce.

We would be happy to discuss with you the complex and evolving issues employers are navigating with the COVID-19 vaccinations. Contact the R+R HR consulting team for development of your company’s vaccine.

Katie Hall, PHR, Director, HR

katieh@reynoldsrowella.com With over a decade of diversified knowledge in HR, Katie has extensive hands-on experience leading HR initiatives including policy design, compensation, performance management, recruiting, compliance reporting, HR workflow development, training and development, and benefits administration. She assists R+R clients with recruiting and retaining quality staff and working closely with businesses in regards to their benefits, training and compensation programs

About Reynolds + Rowella

Reynolds + Rowella is a regional accounting and consulting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

Our mission is to operate as a financial services firm of outstanding quality. Our efforts are directed at serving our clients in the most efficient and responsive manner possible, delivering services that exceed the expectations of those we serve. The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, please contact Elizabeth Bresnan at 203.438.0161 or email.

Filed Under: COVID-19

EXPANDED TAX CREDIT OPPORTUNITIES FOR EMPLOYERS

January 11, 2021 by Reynolds & Rowella Leave a Comment

Signed into law on December 27th, the Consolidated Appropriations Act (the Act) extends and expands the Employee Retention Credit (ERC) that was enacted under the CARES Act to provide economic relief for businesses hit hard by the coronavirus pandemic 

Below is a summary of a few of the favorable retroactive changes to 2020:

The expanded and enrichened ERC is going to prove an extremely valuable credit for many businesses, especially so in 2021—particularly businesses that received PPP loans will be surprised that not only can they now participate, but they can even do so retroactively for 2020.

Please note that this information is current as of the date of publication. We will continue to provide additional in-depth updates around this matter.

If you have questions about any of the changes discussed above or need assistance please contact a R+R tax advisor.
About Reynolds + Rowella

Reynolds + Rowella is a regional accounting and consulting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

Our mission is to operate as a financial services firm of outstanding quality. Our efforts are directed at serving our clients in the most efficient and responsive manner possible, delivering services that exceed the expectations of those we serve. The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, please contact Elizabeth Bresnan at 203.438.0161 or email.

Filed Under: COVID-19

$900B COVID-19 Relief Bill Signed into Law

December 28, 2020 by Reynolds & Rowella Leave a Comment

On December 21, 2020 the House and the Senate passed a $900 billion pandemic relief package. The bill combines coronavirus-fighting funds with financial relief for individuals and businesses and was signed into law by President Donald Trump over the weekend.

Key bill provisions include:
  • Allocation of an additional $325 billion in aid for small businesses including a new round of Payroll Protection Program (PPP) funding for businesses enduring pandemic-induced economic hardships.
  • Economic impact payments of $600 for individuals making up to $75,000 per year and $1,200 for married couples making up to $150,000 per year, as well as a $600 payment for each child dependent.
  • A $300 per week supplement for workers receiving unemployment benefits from Dec. 26 until March 14, 2021. This bill also extends the Pandemic Unemployment Assistance (PUA) program and the Pandemic Emergency Unemployment Compensation (PEUC) program.
  • An extension of the national eviction moratorium through January 31, 2021, as well as $25 billion in emergency rental aid.
  • Extension of the employee retention tax credit, several expiring tax provisions and temporarily allows a 100% business expense deduction for meals provided by a restaurant (rather than the current 50%) incurred after December 31, 2020 and expires at the end of 2022.
PPP 2 Eligibility and Loan terms

The new package provides additional funding for those businesses that did not receive PPP money in the first round. In addition, it allows businesses a second chance at PPP money if they have fewer than 300 employees and can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019.

Please make note that the bill allows borrowers that returned all or part of a previous PPP loan to reapply for the maximum amount available to them.

PPP loans are capped at 2.5 times the average monthly payroll costs in the year prior to the loan or the calendar year, with a maximum loan amount of $2 million. Hotel and food services businesses (NAICS code 72) are eligible for up to 3.5 times their average monthly payroll costs, again cannot exceed the $2 million maximum.

The covered period for new loans runs through March 31, 2021

To be eligible for full loan forgiveness, PPP borrowers will have to spend no less than 60% of the funds on payroll over a covered period of either eight or 24 weeks.

Costs eligible for loan forgiveness include payroll, rent, covered mortgage interest, and utilities. The following additional categories have been added as potentially forgivable:

  • Covered Operations Expenditures
  • Covered Property Damage
  • Covered Supplier Costs
  • Covered Worker Protection Equipment
Tax deductibility for PPP expenses

The new legislation also provides that business expenses paid for with the PPP loan proceeds will be considered tax deductible. This provision officially reverses multiple IRS revenue rulings made earlier in the year denying the tax deductibility of these expenses.

As with most topics related to COVID-19, changes are being made rapidly. Please note that this information is current as of the date of publication. We will continue to provide additional in-depth updates around this matter.

To learn more about PPP loan eligibility, application/forgiveness or tax credits , please CONTACT US or connect with your R+R advisor to discuss your organization’s questions, concerns, and priorities.


About Reynolds + Rowella

Reynolds + Rowella is a regional accounting and consulting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

Our mission is to operate as a financial services firm of outstanding quality. Our efforts are directed at serving our clients in the most efficient and responsive manner possible, delivering services that exceed the expectations of those we serve. The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, please contact Elizabeth Bresnan at 203.438.0161 or email.

Filed Under: COVID-19

National Taxpayer Advocate report to Congress identifying taxpayer challenges

July 1, 2020 by Reynolds & Rowella Leave a Comment

The National Taxpayer Advocate Erin M. Collins released her first report discussing some of the difficulties confronting taxpayers and the IRS during the COVID-19 pandemic, which has only exacerbated problems with taxpayer service as the IRS struggled to implement the provisions of the CARES Act and the Taxpayer First Act.

Although the report praises the IRS for acting quickly to postpone over 300 filing, payment, and other time-sensitive deadlines, provide broad relief from compliance actions under its “People First Initiative,” a7nd disburse some 160 million Economic Impact Payments (EIPs) authorized by the CARES Act, there have been notable adverse taxpayer impacts, including:

Taxpayer Challenges Arising from COVID-19 Pandemic
  • Taxpayers who filed a 2019 paper return and are entitled to refunds may be in for a long wait. The IRS had to suspend the processing of paper tax returns, and as of May 16, it estimated it had a backlog of 4.7 million paper returns. Although the IRS is reopening some of its core operations, it is not clear when it can open and process all the returns sitting in mail facilities.
  • Some taxpayers whose returns were mistakenly flagged by IRS processing filters are experiencing lengthy delays in receiving their refunds.
  • The IRS shut down its Accounts Management telephone lines, so taxpayers could not reach a live assistor by telephone, as well as its Taxpayer Assistance Centers, making it impossible for taxpayers to obtain in-person assistance. The IRS also shut down its mail facilities, so it was unable to log or process taxpayer responses to compliance notices.
  • IRS systems prepared over 20 million notices during the pandemic that could not be mailed due to closure of notice production centers between April 8 and May 31. The IRS is mailing these notices now. However, some collection notices bear old dates and include response deadlines that often have passed. The IRS plans to include “inserts” with these notices explaining that response deadlines have been postponed.
Taxpayer Challenges Relating to the CARES Act
  • Individuals who did not receive some or all of their EIPs may have to wait until next year to receive them. To date, the IRS has taken the position that most taxpayers who did not receive their full payments must wait until they file their 2020 income tax returns to claim the amounts as credits against their 2020 tax liabilities, even though there is no legal constraint on the IRS’s ability to issue additional EIP amounts as advance refunds during 2020.
  • Employers are struggling to determine whether they qualify for the Employee Retention Credit (ERC) and in what amounts. The ERC is a complex, refundable tax credit that requires employers to determine when a trade or business was fully or partially suspended by government order; the employer’s number of full-time employees; what constitutes qualified wages; whether a business’s operations post-COVID-19 are comparable to its pre-COVID-19 operations; and the application of aggregation rules.
  • Businesses are facing challenges when seeking to utilize the CARES Act provision that authorizes the use of net operating losses to offset taxable income in prior years (and in some cases to receive refunds).

Visit IRS.gov Where’s my Refund to check status of your filed return

While the IRS has begun reopening its operations, it will take some time before they are restored to full capacity. We encourage you to visit IRS.gov for a status of your filed return. Also, Reynolds + Rowella’s Tax Director Pat Butler is available to discuss any tax issues or questions you may have.

REYNOLDS & ROWELLA | ACCOUNTING AND CONSULTING

Reynolds + Rowella is a regional accounting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, give us a call at 203.438.0161 or email us.

Filed Under: COVID-19, Uncategorized

New Interim Final Rule Clarifies Key Changes in Paycheck Protection Program

June 17, 2020 by Reynolds & Rowella Leave a Comment

New guidance has emerged from the Small Business Administration with another interim final rule—this new rule clarifies certain key changes made to the Paycheck Protection Program (PPP) by the Paycheck Protection Program Flexibility Act (PPPFA) signed into law on June 5, including:

  • Extending the period in which expenses paid with a PPP loan could be eligible for loan forgiveness from 8 to 24 weeks from a loan’s origination (not to extend beyond December 31, 2020).
  • Allowing borrowers who received a PPP loan before enactment of the June 5 legislation to elect that the covered period run for 8 (vs. 24) weeks
  • Clarifying the amount of loan forgiveness can be up to the full principal amount of the loan plus accrued interest and caps the payroll costs during the covered period to $46,154 per employee (24 week covered period) or $15,385 per employee (8 week covered period) plus covered benefits for employees (but not owners).
  • Clarifying the maximum amount of forgiveness for S-Corporation Shareholders, general partners, and self-employed individuals is determined by calculating owner compensation replacement limited to 2.5/12 of 2019 net profit up to $20,833 (24 week covered period) or limited to 8/52 of 2019 net profit up to $15,385 (8 week covered period).
  • Lowering the requirements that 75% of a borrower’s loan proceeds must be used for payroll costs and that 75% of the loan forgiveness amount must have been spent on payroll costs during the 24-week loan forgiveness covered period to 60% for each of these requirements. If a borrower uses less than 60% of the loan amount for payroll costs during the forgiveness covered period, the borrower will continue to be eligible for partial loan forgiveness, subject to at least 60% of the loan forgiveness amount having been used for payroll costs.
  • Extending the deferral period for borrower payments of principal, interest, and fees on PPP loans to the date that SBA remits the borrower’s loan forgiveness amount to the lender (or, if the borrower does not apply for loan forgiveness, 10 months after the end of the borrower’s loan forgiveness covered period).
  • Providing a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees for borrowers that are unable to return to the same level of business activity the business was operating at before February 15, 2020, due to compliance with requirements or guidance issued between March 1, 2020 and December 31, 2020 by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to worker or customer safety requirements related to COVID–19.

Download a copy of the June 16, 2020 revised Loan Forgiveness Application Instructions, 

Download a copy of the revised Loan Forgiveness Application Form 3508EZ.

The last day which a PPP loan application can be approved remains June 30, 2020.

The PPP loan forgiveness process is time consuming and complicated, even more so than the PPP application process itself – calculations are complex and supporting documentation needs to be thorough and succinctly compiled. If you have any questions regarding your PPP loan or need assistance completing your loan forgiveness application and calculating your loan forgiveness amount, please contact John Priola.

We will continue to keep you updated on the changes to this program as they are released.

REYNOLDS & ROWELLA | ACCOUNTING AND CONSULTING

Reynolds + Rowella is a regional accounting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, give us a call at 203.438.0161 or email us.

Filed Under: COVID-19

Paycheck Protection Program Flexibility Act (PPPFA).

June 5, 2020 by Reynolds & Rowella Leave a Comment

On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA). The PPPFA will provide additional flexibility to many borrowers attempting to maximize the benefits provided by the Paycheck Protection Program (“PPP”) established as part of the CARES Act.

The following are highlights of the PPPFA:

  • The PPPFA reduces the amount of the loan needed to be spent on payroll from 75% to 60%. Note that the law does not change the list of expenses eligible for forgiveness; rent, mortgage payments, utilities, and interest on loans.
  • The PPPFA extends the time period to spend the loans to 24 weeks. While businesses will still need to spend the money on payroll and authorized expenses, they now have until the end of 2020 to do so.
  • For salaries to count towards forgiveness, previous guidelines stated that all workers had to be rehired by June 30, 2020. Under the new law, businesses now have until December 31, 2020, to rehire workers in order for their salaries to count towards forgiveness.
  • In addition to extending the rehire date, the law also adds additional exceptions for a reduced head count. The PPPFA states a business can still receive forgiveness on payroll amounts if it:
    • Is unable to rehire an individual who was an employee of the eligible recipient on or before February 15, 2020;
    • Is able to demonstrate an inability to hire similarly qualified employees on or before December 31, 2020; or
    • Is able to demonstrate an inability to return to the same level of business activity as such business was operating at prior to February 15, 2020.
  • A business now will have five years at 1% interest to repay the loan. Additionally, the first payment will be deferred for six months after the SBA makes a determination on forgiveness.
  • The PPPFA permits borrowers to delay the payment of employer payroll taxes until December 31, 2021 (with respect to up to 50% of the amounts due) and December 31, 2022 (with respect to the remaining amounts due up to 50%). Borrowers were previously prohibited from this benefit if their loans were forgiven in whole or in part.

Employers should also continue to diligently document their use of the funds, so when loan forgiveness time comes, they can quickly and accurately substantiate their use of the loan and increasing the odds of full forgiveness. 

If you have any questions regarding your PPP loan or need assistance completing your PPP loan forgiveness application and calculating your loan forgiveness amount, please contact John Priola. 

Visit the Reynolds + Rowella COVID-19 Resource Center for further guidance with answers to frequently asked questions and regulations with interim final rules as they becomes available.

REYNOLDS & ROWELLA | ACCOUNTING AND CONSULTING

Reynolds + Rowella is a regional accounting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, give us a call at 203.438.0161 or email us.

Filed Under: COVID-19

SBA ISSUES INTERIM FINAL RULES

May 29, 2020 by Reynolds & Rowella Leave a Comment

The Treasury and Small Business Administration (SBA) released two new Interim Final Rules (IFR) – one on Loan Review Procedures and one covering Loan Forgiveness.

The first one on loan review procedures and related borrower and lender responsibilities contains primarily new, important information related to the forgiveness process, lender’s responsibilities when reviewing forgiveness applications, and SBA’s authority to review loans.

IFR on Loan Review Procedures and Related Borrower and Lender Responsibilities

The second interim final rule on forgiveness contains some new information as well as finalizes in a rule form much of the information found in the new forgiveness application and prior Treasury FAQs that were previously issued – click here for article related to the application and FAQs.

One new helpful FAQ is related to whether bonus pay or hazard pay during the 8-week covered period may be included in the definition of “payroll costs.” The interim final rule clarifies that the payment of bonuses and hazard pay to employees are eligible for loan forgiveness. Total compensation, including bonuses and hazard pay, cannot exceed $15,385 per employee. The use of bonuses may be an excellent way for business owners to meet the PPP payroll requirements, while also recognizing those employees who worked through, and continue to work through, very challenging circumstances.

IFR on Loan Forgiveness

Additionally, Congress is considering legislation that will give small businesses more flexibility in spending their PPP loans. We will keep you informed of all new developments. Please continue to check the visit the R+R COVID-19 Resource Center section of our website for updates.

Remember – any amount that is not forgiven must be re-paid. If you need assistance completing your PPP loan forgiveness application and calculating your loan forgiveness amount, please contact John Priola. 

REYNOLDS & ROWELLA | ACCOUNTING AND CONSULTING

Reynolds + Rowella is a regional accounting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, give us a call at 203.438.0161 or email us.

Filed Under: COVID-19

Plan for Employees Safety as We Return to Work

May 22, 2020 by Reynolds & Rowella Leave a Comment

More and more companies across are either asking employees to work from home, or maybe even temporarily shutting down. The CDC and other health groups remind us to wash our hands, cover our coughs and sneezes, wear a mask and practice social distancing—but what can workplaces do about this virus? Well, the Occupational Safety and Health Administration (OSHA) has prepared some guidance for that big question!

The OSHA Guidance on Preparing Workplaces for COVID-19 addresses several common questions about how to prepare for, and deal with, the coronavirus in the workplace. Below are some points from the OSHA advisory report to help you consider workplace safety through a new lens.

LEARN MORE ON THE GUIDANCE ON PREPARING WORKPLACES FOR COVID-19

Develop an Infectious Disease Preparedness and Response Plan;

Employers develop an infectious disease preparedness and response plan that addresses level(s) of risk associated with their worksites and the tasks performed at those sites. Such considerations may include:

  • Where, how, and to what sources of COVID-19 workers may be exposed to, including, for example, the general public, customers, coworkers, sick individuals, or individuals at particularly high risk of infection
  • Non-occupational risk factors at home and in the community
  • Workers’ individual risk factors, such as advanced age, chronic medical conditions, and pregnancy
  • Controls necessary to address those risks

Develop, Implement, and Communicate about Workplace Flexibilities and Protections; maintaining flexibility when dealing with HR matters, including:

  • Actively encouraging sick workers to stay home
  • Ensuring and making workers aware of sick leave policies that are flexible and consistent with public health guidance
  • Impressing upon staffing agencies the importance of sick workers staying home
  • Recognizing that health care providers may be overtaxed during this crisis, refraining from requiring workers to immediately obtain a health care provider’s certification to validate illness or to return to work
  • Maintaining flexibility to allow workers to stay home to care for sick family members
  • Being sensitive to workers’ concerns about pay, leave, safety, health, and other issues that may arise during infectious disease outbreaks
  • Providing appropriate training about business-essential job functions and worker health and safety, including proper hygiene practices and the use of any workplace controls (including PPE)

Implement Workplace Control; preventing exposure to COVID-19 hazards through the following:

  • Engineering controls. Physical measures include using high-efficiency filters, increasing ventilation, and installing physical barriers such as clear plastic sneeze guards.
  • Administrative controls. This involves HR policies, safety equipment and procedure training.
  • Safe work practices. Examples include “no-touch” trash cans and alcohol-based hand rubs.
  • Personal protective equipment (PPE). This includes gloves, goggles, face shields, etc. Note: While there’s no COVID-19-specific OSHA PPE standard, some regulations may apply here.

Implement Basic Infection Prevention Measures; These measures should include:

  • Frequent and thorough hand washing by employees, customers, and worksite visitors (if soap and running water are not available, provide hand wipes containing at least 60 percent alcohol)
  • Encouraging sick or symptomatic employees to stay home
  • Providing customers and the general public with tissues and no-touch trash receptacles
  • Establishing flexible worksites and/or flexible work hours (e.g., staggered shifts) to increase physical distance among employees and others
  • Discouraging employees from using others’ phones, desks, offices, tools, and other equipment, and maintaining regular and routine cleaning and disinfecting with EPA-approved products

LEARN MORE ABOUT EPA-APPROVED PRODUCTS

Reynolds + Rowella’s HR Consulting team is here to assist you in implementing the OSHA’s guidance to create a plan tailored to your business or other employment challenges related to COVID-19. Please reach out to Katie Hall for assistance.

REYNOLDS & ROWELLA | ACCOUNTING AND CONSULTING

Reynolds + Rowella is a regional accounting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, give us a call at 203.438.0161 or email us.

Filed Under: COVID-19

ALERT: Safe harbor for PPP loans under $2 million

May 21, 2020 by Reynolds & Rowella Leave a Comment

The Small Business Administration (SBA) has released new guidance regarding the good-faith certification for Paycheck Protection Program (PPP) loans.

On May 13th, 2020, the SBA established a “safe harbor” for borrowers receiving PPP loans with an original principal amount of less than $2 million.

The new safe harbor was made by adding “FAQ 46” to the SBA’s previously-issued PPP guidance. FAQ 46 provides that any borrower which, together with affiliated entities, receives PPP loans with an original principal amount of less than $2 million “…will be deemed to have made the required certification concerning the necessity of the loan request in good faith.”

PPP Loan FAQs

Borrowers whose PPP loans over the $2 million threshold may be subject to review by the SBA for compliance with program requirements, including the certification of economic need.

Please contact John Priola with any questions regarding your organizations PPP loan and the safe harbor rule.

REYNOLDS & ROWELLA | ACCOUNTING AND CONSULTING

Reynolds + Rowella is a regional accounting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, give us a call at 203.438.0161 or email us.

Filed Under: COVID-19

PPP Loan Forgiveness Application

May 19, 2020 by Reynolds & Rowella Leave a Comment

American flag waving with the Capitol Hill in the background

The U.S. Small Business Administration (SBA) has released additional Paycheck Protection Program (PPP) guidance in the form of the PPP Loan Forgiveness Application.

The main benefit of a PPP loan is the ability to have the principal balance of the loan forgiven if the loan proceeds have been spent on qualifying costs. In a previous article, we included the SBA PPP Loan Borrow Fact Sheet which includes debt forgiveness guidance, however we recommend that you consult with a professional to better understand the details and application to your specific situation.

PPP Loan Forgiveness Application

Reynolds + Rowella has developed a tool and processes to help our clients track eligible payroll and non-payroll costs, as well as calculate debt forgiveness amounts to aid in compliance with the PPP. Please contact John Priola or Patrick Butler if you would like to learn more about this service.

REYNOLDS & ROWELLA | ACCOUNTING AND CONSULTING

Reynolds + Rowella is a regional accounting firm known for a team approach to financial problem solving. As Certified Public Accountants, our partners foster a personal touch with our clients. As members of DFK International/USA, an association of accountants and advisors, our professional network is international, yet many of our clients have known us for years through the local communities we serve.

The firm has offices at 90 Grove St., Ridgefield, Conn., and 51 Locust Ave., New Canaan, Conn. For more information, give us a call at 203.438.0161 or email us.

Filed Under: COVID-19, Uncategorized

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90 Grove Street / Ridgefield, CT 06877 / Office: 203.438.0161 / Fax: 203.431.3570
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  • About Us
  • Who We Are
    ▼
    • Meet the Partners
    • Our Team
  • Consulting
  • Tax
  • Industries
  • Assurance
  • Culture
  • Careers
  • Contact