Assistance for American Workers and Families: CARES Act Overview
Discover the key elements of the CARES Act through a detailed presentation, including support for American workers, families, and businesses. Learn about financial assistance, tax credits, and resources available for nonprofits during the COVID-19 pandemic.
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Presentation Transcript
DV Program Response and Planning Meeting April 2, 2020 10:30 am 12:00 pm
Administrative/Legal Updates CARES Act Overview Title 1: Keeping American Workers Paid and Employed Title 2: Assistance for American Workers Families and Business Title 3: Supporting American s Health Care System in the Fight Against the Coronavirus Title 4: Economic Stabilization and Assistance to Severely Distressed Sectors of the United States Economy Title 5: Coronavirus Relief Funds Title 6: Miscellaneous Provisions
Title 1: Keeping American Workers Paid and Employed Support for Nonprofit Organizations (factsheet) Incentives for Charitable Giving Small Business Administration Nonprofit Loans (graphics) National Council of Nonprofits Excellent Webinar! https://www.youtube.com/watch?v=2yTDrfAdQVM
https://www.councilofnonprofits.org/trends-policy-issues/loans-available-nonprofits-the-cares-act-public-law-116-132https://www.councilofnonprofits.org/trends-policy-issues/loans-available-nonprofits-the-cares-act-public-law-116-132
Title 2: Assistance for American Workers Families and Business Paid Leave (See graphic) Paid Employee Sick Leave Paid Family Leave Paid ER Family Leave Small Business Exemption 50 or fewer employees Option of employer Jeopardize viability of the business Substantial risk to the financial health
Title 2: Assistance for American Workers Families and Business Paying for Mandated Sick Leave Employers paying for the mandated paid leave are entitled to claim a refundable tax credit. Specifically, the tax credit is allowed against the employer portion of payroll taxes, and any paid leave costs that exceed the amount of payroll taxes owed will be refundable to the employer at the end of each quarter. Leave earning thresholds still apply. ($511/$200) IRS Example If an eligible employer paid $5,000 in sick leave and is otherwise required to deposit $8,000 in payroll taxes, including taxes withheld from all its employees, the employer could use up to $5,000 of the $8,000 of taxes it was going to deposit for making qualified leave payments. The employer would only be required under the law to deposit the remaining $3,000 on its next regular deposit date. If an eligible employer paid $10,000 in sick leave and was required to deposit $8,000 in taxes, the employer could use the entire $8,000 of taxes in order to make qualified leave payments and file a request for an accelerated credit for the remaining $2,000. https://www.irs.gov/newsroom/treasury-irs-and-labor-announce-plan-to-implement-coronavirus-related-paid-leave-for- workers-and-tax-credits-for-small-and-midsize-businesses-to-swiftly-recover-the-cost-of-providing-coronavirus https://www.councilofnonprofits.org/trends-policy-issues/what-the-families-first-coronavirus-response-act-means- nonprofits
Title 2: Assistance for American Workers Families and Business Unemployment Information- (fact sheet) Insurance Hold harmless/experience rating Self-Insured only covers 50% - State must develop a plan Taxes (factsheet) Individual Benefits (factsheet) Cash Payout (factsheet) EEOC (factsheet)
General Updates Managed Care Programs - FSSA Newsletter Indiana health coverage programs Food Banks IHCDA Micro Grants Lead Agencies $25,000 to each CoC region (16) Unrestricted, no match ER bed space, supplies, staffing ESG CDBG Isolation Centers Allstate Statewide Funds
Communications Updates New Resources ICADV website: http://icadvinc.org/covid19/ ICADV Members Only Section: http://icadvinc.org/members-only/ iamamember2020 Free Sign Language: Center on Victimization and Safety https://www.surveymonkey.com/r/InterpreterBank Housing for Hoosiers: https://housing4hoosiers.org/ https://housing4hoosiers.org/2020/03/28/covid-19-letters-for-renters/ FSSA Food Assistance: https://www.in.gov/fssa/dfr/5768.htm Statewide IU Virtual Clinic: https://iuhealth.org/news-hub/iu-health-virtual- clinic-offers-free-coronavirus-screening Yes: We Are Open Graphic Background Checklist (Georgia Coalition example)
Program/Crisis Response - Q & A Protective Order Filing Updates Multiple Access Points (e-filing/fax/email) Staff Morale (afraid, scared, frustrated) How to maintain shelter operations if and when this happens? Unemployment and FMLA considerations Board engagement Ongoing Program Updates Bed Space Residential and Non-Residential
