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COVID-19 News and Resources

The purpose of the National Network of Embroidery Professionals is to help businesses succeed. We are committed to providing timely and relevant COVID-19 news and resources in one location so that you don’t have to spend time looking. Updates and current information will be added as received. If you have suggestions for additional resources that might be helpful to you and your business during this time, please email us at nnep@nnep.com.

SBA Resources and Loans for Small Businesses

The U.S. Small Business Association is providing the ability to apply for loan resources.

Go to https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources for more information.

Paycheck Protecting Program Summary:

This program opened Friday, April 3, 2020. Here is a summary of what you need to know from NPR, a trusted source: https://www.npr.org/2020/04/03/826254936/the-coronavirus-small-business-loan-program-what-you-need-to-know

Tax Day

Visit https://www.irs.gov/coronavirus for updates. If your state collects income tax, check with your Department of Revenue to determine whether you must file by April 15, as the federal filing date may now be different than your state filing date!

Stimulus Payments

Updated March 26, 2020

Stimulus payments will be sent to individual Americans as part of a plan the U.S. House is expected to approve Friday, March 27.

A $2 trillion package was approved by both houses of Congress on Wednesday, March 25, but returns to the U.S. House for final approval Friday, March 27. Payments will be based on the adjusted gross income on the most recent tax return (2019 or 2018).

The adjusted gross income number on your 2018 federal taxes (or 2019 if you’ve already filed) will be used to determine your payment. Those who don’t file taxes will still get payments if they received a Form SSA-1099 for the year 2019 (sent to those who receive Social Security payments) but a system will be set up to help other nonfilers, like disabled military veterans and homeless people, get their money.

Here’s how payments are calculated:

  • If you made less than $75,000 as an individual filer, you will get the full payment of $1,200.
  • Couples who filed jointly will receive a $2,400 if their combined income is less than $150,000.
  • Someone filing as head of household will get the full $1,200 payment if they earned less than $112,500.
  • If you made more than one of the income limits, the government will deduct $5 from your payment for every $100 over the income limit. That zeros out your payment if you’re a couple making $198,000 or more or an individual making $99,000 or more.
  • A payment of $500 will be added for each child.

These one-time payments could be sent out by April 20, according to the Treasury Department, though the IRS has indicated longer timeframes. If you've used direct deposit when filing taxes in the past 2 years, the money will be deposited into the account you indicated when you used direct deposit when filing taxes in the past two years or will be mailed to the last address the IRS has recorded for you.

Unemployment Insurance

Visit https://www.congress.gov/bill/116th-congress/house-bill/6201/text to read the details of the bill.

Unemployment benefits have been boosted by nearly $1 billion in state grants. States with high unemployment numbers should be able to offer increased assistance to job seekers who have reached the end of their unemployment benefits. These costs will be covered by the federal government.

Paid Sick Leave

Visit https://www.congress.gov/bill/116th-congress/house-bill/6201/text to read the details of the bill.

The Families First Coronavirus Response Act creates a new federal emergency paid-leave benefits program. It makes employers responsible for paying for some employees’ leave during the pandemic with costs offset through tax credits. (Self-employed business owners will be eligible for a tax credit equivalent to the sick leave amount.)

Important to small businesses in our industry, the act gives the Secretary of Labor the ability to exempt small businesses with less than 50 employees “when the imposition of such requirements would jeopardize the viability of the business as a going concern.”

How that exemption may occur has yet to be determined.

Paid Family Leave

Visit https://www.congress.gov/bill/116th-congress/house-bill/6201/text to read the details of the bill.

Paid family leave, up to 3 months, is also provided by the Families First Coronavirus Response Act, with workers receiving at least two-thirds of their pay during the leave. This is provided primarily for parents and guardians of children under 18 who cannot work because the kids need care while schools/daycares are closed.

Please read the details of this section if you believe your business may be affected: https://www.congress.gov/bill/116th-congress/house-bill/6201/text#H090B4CC72C8740CA89BC36AC273B7126.

Keep Calm and Learn On

Here are some publicly available resources from Salesforce with tips on working from home, and maintaining personal well-being during this mandated stay at home time.

Salesforce Trailhead: https://trailhead.salesforce.com/en/users/lmcgowen-hare/trailmixes/create-calm-while-learning?

ZOOM with Caution!

Read the article on NPR: A Must For Millions, Zoom Has A Dark Side — And An FBI Warning

How Small Businesses Can Get Help

Here is a summary and resources from a trusted source, HubSpot: