Explore CBIZ’s latest insights on the critical COVID-19 issues. Learn how you can help your company in the following areas by navigating to the below buttons: Tax and Legislation, Employees and HR, Financial Management and Risk and Operations.
September 28, 2020
What the Appointment of the Special Inspector General for Pandemic Recovery Could Mean for Recipients of COVID Relief
The pandemic relief law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provided an unprecedented $2 trillion in economic aid to American families, workers and small businesses affected by the Coronavirus Disease 2019 (COVID-19).
September 4, 2020
Tax Plays for the Balance of 2020
The unique tax environment presents several tax strategy opportunities.
September 2, 2020
Questions & Answers From The 'Where Does the PPP Go From Here' Webinar
Ambiguities remain around elements of the Small Business Administration’s Paycheck Protection Program and the process for applying for PPP loan forgiveness. During our recent webinar, Where Does the PPP Go from Here we asked attendees to submit their questions. Below is a compilation of our responses to attendees’ queries.
August 31, 2020
IRS Issues Employee Payroll Tax Deferral Guidance
Recent IRS guidance details employee eligibility, the repayment period, and employer responsibilities for President Trump’s employee payroll tax deferral.
August 25, 2020
Will PPP Loans Trigger a Higher Tax Bill?
Paycheck Protection Program loan recipients could find themselves with a higher than anticipated 2020 tax bill.
October 26, 2020
Engaging a Remote Workforce throughout the Employee Lifecycle – Part 2
To be a successful employer, you must have an engaged workforce and to achieve that you must be an engaging employer. Our two-part article series discusses six critical touch points in the employee lifecycle and strategies to effectively engage your remote workforce at each of those points.
October 13, 2020
Employer Tools to Effectively Manage Pharmacy Costs
There are generally six stakeholders in the supply and demand of prescription drugs – pharmaceutical manufacturers, health insurers (including self-insured employers), pharmacy benefit managers (PBMs), pharmacies, wholesalers and patients.
October 12, 2020
October Employer Regulatory and Legislative Update | CBIZ, Inc.
As businesses are increasingly focused on reopening and rebuilding, it’s important to also stay on top of non-COVID-related regulatory and legislative matters to ensure continued compliance.
October 9, 2020
How Employers Can Utilize Cost & Quality Data to Reconfigure Health Care Purchasing
As employee-patients develop symptoms that exceed the expertise of primary care and/or minor acute care, the more costly care becomes. This is not exclusively due to the increasing severity of conditions but also to the opacity of cost and quality information regarding specialty care and facilities, which often have wide-sweeping variances in both their quality for any given diagnosis and the cost of treatment.
October 2, 2020
Health Care Plan Costs & Design – What Are Your Competitors Doing?
Changes in health plan costs and design nationally, coupled with a need to cover COVID-19-related charges in plan costs, have analysts predicting a 2 to 20% rise in health care premiums.
October 21, 2020
2020 Third Quarter Market Recap
As the economy begins to revive itself, it is often not on sure footing, and we are tempted to doubt its progress.
October 14, 2020
Identifying and Addressing Risk in Times of Uncertainty
Uncertainty can often create disruption, but investment committees can lean on the lessons learned from these disruptive events to help address risk.
October 1, 2020
September 2020 Market Recap
After several consecutive months of gains, the global financial markets reversed course during September.
September 29, 2020
3 COVID-19 Impacts to Expect When Undergoing a Single Audit in 2020
Not-for-profit organizations that receive federal funds are subject to the requirements of the Uniform Grant Guidance, and the Subpart F Single Audit.
August 2020 Market Recap
Headlines throughout the month of August covered situations that could have potentially spooked the markets.
Upsurge in Cyber Crime Results in Increased Underwriting Scrutiny
Cyberattacks, ranging from phishing and ransomware to denial-of-service attacks and cloud-service interruptions, continue to increase in both frequency and sophistication. Cyberattacks ramped up even more when COVID-19 forced businesses to shift to remote work, with information on the pandemic used as a hook.
September 16, 2020
Business Insurance: Where Not to Cut Corners
As business insurance premium prices increase and coverage becomes harder to obtain, you may be tempted to go with the least expensive option. While there are certainly things you should explore to control costs, there are some areas in your commercial insurance and risk management program that you don’t want to skimp on.
September 8, 2020
3 Considerations When Using Forecasts to Assess Impairment Amid COVID-19
Forecasts can help your company assess impairment accounting amid COVID-19. Here are three things you should look out for as you utilize forecasts.
Manufacturing & Distribution Sectors COVID-19 Resources
Quick links to COVID-19 resources provided by the National Association of Manufacturers, industry-specific associations and information outlets, the Federal government and State governments.
7 Ways to Control Costs at Your Next Commercial Insurance Renewal
With insurance premiums on the rise, it’s even more important to look for ways to reduce your commercial insurance premiums. Here are seven tips to help control costs.
As we help our more than 90,000 clients across the nation solve the ways COVID-19 is impacting their organizations, we would be honored to be on your team in this uncertain time, too.
In light of the COVID-19 pandemic disruptions, the SEC recently released some relief and guidance for public companies and SEC registrants.
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The Coronavirus Aid, Relief, and Economic Security Act,” (CARES Act) contains tax and nontax relief measures designed to help the relieve some of the economic impact of the COVID-19 virus for businesses and individuals.
Multinational companies should be mindful that international tax reporting may need to be adjusted to account for the disruption with the COVID-19 pandemic, particularly policies related to transfer pricing among related entities in different countries.
Symptoms from the new coronavirus outbreak continue to spread, and the repercussions from the virus are affecting more than just employee health and well-being. The U.S. stock market plunged in late February as it became clear that the risks related to the COVID-19 virus would not be contained to international visitors to Wuhan, China.
Congressional tax writers and the Trump administration are considering various tax relief measures in response to the current global health emergency. "While we continue to assess the economic impacts, [Senate Finance Committee] Chairman [Chuck] Grassley, [R-Iowa], is exploring the possibility of targeted tax relief measures that could provide a timely and effective response to the coronavirus," Grassley’s communications director Michael Zona said in a statement emailed to Wolters Kluwer on March 9.
On March 17, the Trump administration announced an extension to the April 15 tax payment deadline for all individual and corporate taxpayers. On March 18, the IRS issued Notice 2020-17, clarifying some of the uncertainties that remained after Treasury Secretary Steven Mnuchin’s initial announcement. The extension applies to the first $1 million of taxes owed by individuals (regardless of whether filing single, married filing joint or otherwise) and the first $10 million of taxes owed by corporations or consolidated groups.
Ramifications from the COVID-19 virus will likely continue from some time. The March 11 announcement that the novel coronavirus is officially a global pandemic triggered market reactions, additional health and safety precautions, and for the accounting world, the need for some additional financial reporting considerations. Below are some of the ways the COVID-19 virus affects financial statements.
Our webinar is designed to provide insights on how the coronavirus may impact not-for-profit organizations, from endowments to debt covenants, revenue streams, tax considerations, technology and other fiscal and operational matters. We will also discuss pending accounting and auditing standards and how organizations can address them, as well as crucial tax developments.
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President Trump signed into law on March 18 the Families First Coronavirus Response Act (the Act), which will provide paid sick and family leave assistance due to illness, as well as food assistance and medical testing assistance. The Senate passed the bill earlier the same afternoon, where Senate Majority Leader Mitch McConnell (R-KY) said any shortcomings the Senate saw in the bill would be addressed in the next phase of coronavirus legislation.
Treasury Secretary Steven Mnuchin announced via Twitter this morning that the April 15 tax filing deadline is extended to July 15. This supplements the tax payment extension to July 15 that was announced March 17 and published by the IRS on March 18. Secretary Mnuchin tweeted, “At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”
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Our professionals at CBIZ Gibraltar Real Estate Services have had numerous conversations with tenants and landlords about the COVID-19 pandemic, its impact on businesses and how landlords and their lenders will deal with tenants' inability to pay rent.
The Families First Coronavirus Response Act (H.R. 6201) enacted on March 18, 2020 addresses many issues. Specific to employee benefits, it provides for mandated health coverage for coronavirus testing and related services, emergency paid sick leave, and emergency family and medical leave.
As business closures increase due to the COVID-19 pandemic, employers are faced with questions about compensation and health benefit coverage for their employees. Government relief measures may provide compensation for businesses and individuals in certain situations.
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As part of sweeping legislation—the Families First Coronavirus Response Act (FFCRA)—signed into law by President Trump on March 18, 2020, two laws were enacted that provide workers with paid leave for reasons related to the coronavirus (COVID-19) pandemic.
Employers are obligated to maintain a safe and healthy work environment for their employees and are subject to a number of legal requirements protecting workers. As the number of reported cases of the novel coronavirus (COVID-19) continues to rise, these employer obligations are becoming more challenging to meet, and they must be met in an expedited timeframe.
COVID-19 / Coronavirus has rapidly shifted many companies to adopt a work from home policy,and it is your duty to promote a seamless transition. Here are tips for your employeess as they shift from working in an office to their homes.
Our emotional wellbeing is often impacted by what’s happening in other areas of our lives. If stressful events are taking place in our community or if we are not feeling our best physically or if we have financial challenges, our emotional health can be negatively impacted.
Aside from the technology considerations associated with telecommuting arrangements, offering employees the opportunity to work remotely comes with a chance for team leaders to create a positive virtual culture centered on employee wellbeing.
Our physical health has a significant impact on our overall wellbeing. When we feel good physically, our outlook on life tends to be more positive, our food choices are healthier, our sleep habits improve, and our immune system is stronger.
When schools are closed for an extended period of time, parents may be challenged to adjust to working from home with their kids.
We know you’re concerned about the impacts of COVID-19 on your employees and benefits, but there are steps you can take to mitigate those impacts . . . and CBIZ is here to guide you every step of the way. To that end, we are providing you with this summary of the most critical issues that your business must be aware of.
The recent market swings have grabbed headlines around the world, recording some of the largest daily moves in recent history. Such wild gyrations in the markets can be alarming to investors and may cause anxiety about the future of the investing environment. At CBIZ IAS, we understand the discomfort around market volatility and would like to put some context around recent events to help you navigate through turbulent times.
During this time, it may be somewhat comforting to remember that you are not alone. Everyone is wondering what the immediate future holds for the COVID-19 virus. Everyone else has the same fears and anxiety that you may be feeling right now.
An unfortunate result of COVID-19 is that cybercriminals are attempting to capitalize on the public’s desire to learn more about the outbreak. There have been reports of phishing scams that attempt to steal personal information to infect devices with malware as well as ads that peddle false information or scam products.
As concerns about the COVID-19 (coronavirus) continue to rise, many employers are left wondering what they can do to protect their workforce. Here’s some insight into what coronavirus is, how it spreads and what steps to take if your team members have symptoms.
Get tips to keep your office workspace clean and free of the viruses and bacteria that cause colds, the fly, strep throat, pneumonia and other illnesses.
Our mission is to provide our clients with exceptional advisory and business services. At this unprecedented time, industry-specific content provides the focused guidance that should be particularly useful.
Quick links to COVID-19 information and resources provided by commercial real estate organizations, industry information outlets, government agencies and other industry thought leadership.