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Employers Now Required to Provide Unemployment Notice at Separation
Effective November 2, 2020 Wisconsin employers will be required to provide a written notice regarding Unemployment Insurance Benefits at the time of separation from employment. Although there is no new notice provided by the DWD for employers to utilize, the DWD has suggested language to be included in the notice to be given to employees at the time of separation.
The Notice should say:
You may file an unemployment claim in the first week that employment stops or work hours are reduced.
Include a reference to the already required display poster for when and how to apply for unemployment benefits.
The written notice can be provided by email, text messages, letter or flyer. The notice is to be provided to the separated employee immediately so they have notice about the availability of benefits.
Providing the notice does not necessarily mean employees will meet the requirments of Wisconsin Unemployment Benefits eligibility laws.
The Small Business & Consumer Debt Collection Emergency Relief Act of 2020
The Federal Government has a proposed policy in relation to COVID-19 that would revise the Fair Debt Collections Practices and enact a blanket suspension of debt collection. This proposed legislation would have incalculably negative implications for not only the loan origination and servicing industries, but for small business across the Country.
It is imperative that there remain some mechanism for creditors, secured and unsecured alike, to enforce a collection through either the commencement of litigation, enforcement of a security interest, execution on property, or earnings and non-earnings garnishment.
We must urge our elected officials to oppose any legislative efforts that would include prohibition on consumer and commercial debt collection. Below are links to find the senators and representatives in your area and a letter to send to oppose this proposed legislation.
https://www.senate.gov/general/contact_information/senators_cfm.cfm
https://www.house.gov/representatives
Buying a Property in Foreclosure and the Foreclosure Process in Wisconsin
Determining if a Land Contract is the Best Way to Buy or Sell Real Estate
Seller wants to sell his/her home to a family member, is a land contract the best option?
Buyer can’t obtain traditional loan funds because of income or credit score, is a land contract my only option?
Join in and listen to Attorney Justin Bates with Real Estate Agent, Austin Solomon, on The Real Wausau Real Estate Show while they discuss land contracts in-depth.
How to Apply for Loan Forgiveness on your PPP Loan
As of June 16, 2020, the SBA released instructions and guidelines for Borrowers to apply for forgiveness of their Paycheck Protection Program (PPP) loans by completing an application and submitting it to their Lender. These updated guidelines reflect the changes that were implemented after the PPP Flexibility Act of 2020 (PPP Flexibility Act) was signed into law. The PPP Flexibility Act provides small businesses with more time and flexibility to spend funds obtained through the PPP. The PPP Flexibility Act extends the covered period from 8 weeks to 24 weeks from disbursement, but not to extend past Dec. 31, 2020.
Bates Legal Group, LLC suggests that you consult with your attorney, accountant and/or lender before completing and submitting these forms.
Borrowers may either use Form 3580EZ if they meet certain criteria, or the PPP Loan Forgiveness Calculation Form. Below you will find both the instructions and the application for each.
Form 3508EZ
Application: https://home.treasury.gov/system/files/136/PPP-Forgiveness-Application-3508EZ.pdf
PPP Schedule A and the PPP Loan Forgiveness Calculation Form
Application: https://home.treasury.gov/system/files/136/3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf
SBA and the Department of the Treasury Provide Clarification of Implementation of Paycheck Protection Program
The SBA provided new guidance today in the form of Q & A related to the Paycheck Protection Program (“PPP”). The Small Business Administration (“SBA”), in consultation with the Department of the Treasury, stated that they will continue to revise this document moving forward, but as of May 13, 2020 they provided answers to 46 questions in order to provide both clarity and guidance for both lenders and borrowers related to the PPP.
Complete guidance for the following topics and others can be found in the link below.
Will the SBA review individual PPP loan files and how will good-faith certification be handled;
Congressional Bipartisan Group Releases Plan to Reopen United States Economy
The Problem Solvers Caucus, a bipartisan group in the United States House of Representatives, has crafted a plan for what, in the group's opinion, is necessary in order to reopen the economy safely, as well as to help businesses recover from state-ordered mandatory shutdowns, such as the "Safer at Home" order issued by Governor Tony Evers on March 27, 2020 and expanded on April 16, 2020.
The "Back to Work" Checklist, which addresses public health and the economy, focuses operational protocols and largely expanded testing for COVID-19 antibodies.
Wisconsin Extends Safer at Home Order Expiration to May 26, 2020
Click on the header to read Emergency Order #28 in it’s entirety. As for some highlights, while schools will remain closed for the remainder of the academic year, certain businesses and activities will be able to expand their service and operations. Some non-essential businesses will be able to perform Minimum Basic Operations (as defined in the Order), Golf Courses can reopen with limitations on April 24 at 8:00am, Public Libraries and Art and Craft Stores will provide curb-side pick-up, and Aesthetic Exterior Work will be allowed so long as it can be performed by one person. Restaurants and Bars, while ordered to remain closed, may allow customers to enter for the exclusive purposes of ordering, picking up and paying for food and beverages. However, neither food nor beverage may be consumed on premises either indoors or outdoors.
Guide to The Employee Retention Tax Credit For COVID-19 Impacted Employers
The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.
The U.S. Chamber of Commerce more fully explains 1) Who is eligible, 2) How much is the Tax Credit and 3) Which employees count towards eligibility and which do not.
Find the article by clicking on the title.