COVID-19 Federal Updates: April 14
Updated: Jun 9, 2020
More than $200 billion of the $350 billion in Paycheck Protection Program (PPP) funding has been approved, and funding is expected to run out in the coming days; Congressional leaders continue to negotiate a package that could include an increase in funding for PPP, hospitals, and state and local governments.
President Donald Trump said he’s planning a Tuesday announcement to name the members of a new White House task force focused on reopening parts of the country that have been shuttered because of the coronavirus pandemic.
It is believed White House Chief of Staff, Mark Meadows, will lead the task force.
The U.S. Supreme Court will take the unprecedented step of holding oral arguments by teleconference next month due to the ongoing coronavirus crisis, the court said Monday.
The Internal Revenue Service is reminding taxpayers they have several options to schedule and pay federal taxes electronically that are due on July 15.
In addition, the IRS has updated FAQs regarding Form 1139 and Form 1045 to Claim Quick Refunds of the Credit for Prior Year Minimum Tax Liability of Corporations and Net Operating Loss Deductions
Additional Federal Guidance (As of April 13, 2020 at 9:00 a.m.):
HHS - HHS to Begin Immediate Delivery of Initial $30 Billion of CARES Act Provider Relief Funding (Click here)
CDC - FAQs for administrators, staff, people who are incarcerated, families (Click here)
FDA - FDA Authorizes Blood Purification Device to Treat COVID-19 (Click here)
FDA - FDA Issues Second Emergency Use Authorization to Decontaminate N95 Respirators (Click here)
HUD - Infectious Disease Toolkit for CoCs – Español (Click here)
HUD - PIH Mega Waiver (Click here)
Treasury - Treasury, IRS Launch Online Tool to Help Non-Filers Receive Economic Impact Payments (Click here)
EPA - EPA Takes Action to Guide Health and Safety Decisions at Cleanup Sites During the COVID-19 Pandemic (Click here)
As a reminder, the Federal Reserve took actions to provide up to $2.3 trillion in loans to support the economy. 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. Here are the details:
The Main Street Lending Program will enhance support for small and mid-sized businesses that were in good financial standing before the crisis by offering 4-year loans to companies employing up to 10,000 workers or with revenues of less than $2.5 billion. Principal and interest payments will be deferred for one year. Firms seeking Main Street loans must commit to making reasonable efforts to maintain payroll and retain workers. Borrowers must also follow compensation, stock repurchase, and dividend restrictions that apply to direct loan programs under the CARES Act. Firms that have taken advantage of the PPP may also take out Main Street loans. More information from the Federal Reserve Board can be found here.
The Municipal Liquidity Facility will allow the Fed to purchase up to $500 billion in short-term notes directly from states, counties with a population of at least two million residents, and cities with a population of at least one million residents. More information from the Federal Reserve Board can be found here.
And, the Department of the Treasury and the IRS launched “Non-Filers: Enter Payment Info Here,” a web portal where Americans who did not file a tax return in 2018 or 2019 can submit basic personal information to the IRS so that they can receive economic impact payments. Go to IRS.gov and click on the “Non-Filers: Enter Payment Info Here” button and please follow the directions closely.
The U.S. Food and Drug Administration has approved the use of hospital equipment sterilization systems produced by Mentor-based STERIS.