Changes to the Coronavirus Aid, Relief, and Economic Security Act (“CARES”) Paycheck Protection Program (“PPP”) were signed into law on June 5, through the Paycheck Protection Program Flexibility Act. The changes make the PPP loan terms and forgiveness program more favorable to borrowers.

COVID-19 and its impacts on daily life have been etched into our minds and may affect us for a long time. Human and social services agencies and nonprofits have stepped up and continue to serve vulnerable communities across the globe. As a nonprofit, in some cases, certain aspects of your operation may have been closed while others became more essential than ever.

The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act raises the amount individuals and corporations can deduct from their adjusted gross income for charitable donations made during 2020. This deduction can be taken by individuals who itemize their deductions on their federal tax return.

Since at least the beginning of the last century, American government has expanded in size and scope, especially during times of fear and economic crises like the Great Depression, the Great Recession, and now the Coronavirus shutdown. The results tend to de-emphasize communitarian solutions offered at the local level in favor of top-down solutions at the national level.

Using a compliance calendar can minimize the risk of fines and penalties associated with missed or late filings and have a measurable impact on an Organization’s efficient functioning, financial bottom line, and reputation.