Coronavirus Resources & Information
As news of the coronavirus – also known as COVID-19 – continues to develop, Blue & Co. wants to provide this information for you in one convenient location. We hope this will help keep you, your organization, and your clients safe and healthy. Have questions about how these changes affect your tax planning or business operations? Contact your local Blue & Co. tax advisor.
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News
January 20, 2022
By: Sara Jacobi, CPA CEPA Director Still waiting for your 2021 Federal tax refund? Tried calling the IRS, only to wait on hold for two hours without talking to anyone? Sent correspondence to the IRS to resolve a notice, only to continue to receive collection notices? If one or more of these items apply to […]
July 26, 2021
On July 20th, HRSA hosted a Reporting Technical Assistance Session regarding the Provider Relief Funds Portal. A few members of the Blue & Co. team attended this online session and took away some key pieces of information that will hopefully provide some guidance to your organization as you work your way through the provider relief […]
March 18, 2021
On March 17, the IRS ended weeks of speculation and issued an information release (IR-2021-59), which provides individual taxpayers an additional month to file their income tax returns. Individuals now have until May 17, 2021, to file their Form 1040, and no interest or penalty on taxes due will begin to accrue until that date. […]
March 15, 2021
Note: You will see in the article below allowable entities now include 501(c)(7) organizations. There remains many specific requirements for the PPP program and each organization will need to consider the totality of the program and their situation to see if they qualify. However, the deadline to apply for funding has not been moved and […]
March 07, 2021
By: Derek Gray, CPA, Director On Saturday, March 6, the Senate passed a $1.9 trillion COVID-19 relief package, The American Rescue Plan Act, with the House expected to pass the bill on Tuesday, March 9. President Biden hopes to sign this bill into law before unemployment aid programs expire on March 14. Provisions in the […]
February 22, 2021
By: Stephen Mann, CPA, ABV, and Jarit Loughmiller, CPA/ABV/CFF, ASA, CVA, CFE On Monday, February 22, 2021, the Biden-Harris administration announced changes to the Paycheck Protection Program (PPP) to “provide equitable relief” and increase the availability of the PPP funds to the smallest employers and sole proprietors. Since the program reopened in January 2021, about […]
January 04, 2021
At the close of 2020, new legislation provided some relief for not-for-profit organizations. Here are the highlights. Charitable Deduction: The $300 ($600 for married filing jointly) charitable deduction for non-itemizers provided under the CARES Act is extended through 2021. Further, the corporate charitable deduction limit will continue to be 25% of taxable income, instead of […]
December 23, 2020
By: Parker Banta, CPA and Derek Gray, CPA Federal Excise Tax Rate Late Monday night, the long-awaited $900 billion coronavirus relief package was overwhelmingly passed. Neatly buried in the nearly 6,000-page bill are provisions that will permanently reduce the Federal Excise Tax (FET) rate on spirits sold by distillers across the United States. This news […]
December 21, 2020
A deal on the rescue package to deliver aid to struggling Americans has suddenly come within reach after a major breakthrough on Saturday, December 19, that was ultimately agreed to by both the House and the Senate late on Sunday night. Lawmakers are expected to vote late on Monday and send the bill to […]
December 11, 2020
It’s webinar season at Blue & Co., LLC.! Check out all of our upcoming events for the week of December, 14. Monday, December 14 Panel Discussion Regarding Paycheck Protection Program (PPP) Webinar – Free to attend On Monday, December 14 from noon – 1 p.m. EST, Blue & Co., LLC will be hosting a panel […]
SBA to Review Paycheck Protection Program Loans Over $2 Million Through Loan Necessity Questionnaire
October 29, 2020
Updated on Friday, October 30, 2020. The Small Business Administration (SBA) will be requesting borrowers complete loan necessity questionnaires for those with PPP loans totaling $2 million or more. This questionnaire is part of a review process to assess the SBA’s evaluation of borrowers’ good-faith certification of their economic need. In the memo the SBA […]
October 05, 2020
At Blue & Co. LLC, we continue to monitor and disseminate impactful information to our clients in connection with their PPP loans advanced through the SBA in connection with the CARES Act. Some clients that have received PPP funds have raised concerns about entering into transactions (on either the sell or buy side) with parties […]
September 11, 2020
The most significant tax-related executive action is the “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” Taxpayer be wary, this order does not revoke your obligation to pay payroll taxes; it merely postpones the taxes to be due at a later date. The tax deferral period is from September 1, […]
August 27, 2020
Guidance on Related Party Rent In this Interim Final Rule, the SBA addressed three issues many companies face. The most significant is related party rent. C corporations and S corporations. The SBA has made it clear that owner employees with less than a 5 % ownership in a C or S Corporation are not subject […]
August 18, 2020
On Saturday, August 8th, President Donald Trump signed four executive actions relating to COVID-19 relief. The orders provide for a payroll tax deferment, an extension of the deferment of student loan payments and interest accrual, as well as a potential $400 per week in Federal Pandemic Unemployment Compensation. The last order instructs the Director of […]
August 18, 2020
The Small Business Administration (SBA), in consultation with the Department of the Treasury, issued additional guidance (in the form of FAQs released on August 11th) regarding PPP Loan Forgiveness for funds advanced as part of section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as amended by the Paycheck Protection Program […]
August 11, 2020
The Small Business Administration (SBA), in consultation with the Department of the Treasury, issued additional guidance regarding PPP Loan Forgiveness for funds advanced as part of section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as amended by the Paycheck Protection Program Flexibility Act (Flexibility Act). We compiled key takeaways from […]
July 30, 2020
On July 27th, Senate Republicans introduced their version of an additional round of economic stimulus and coronavirus response in the form of the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act. In comparison to the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act introduced by House Democrats back in May, the HEALS Act […]
July 23, 2020
Now that many not-for-profit (NFP) entities have received a loan under the Small Business Administration’s Paycheck Protection Program (PPP), they are now trying to determine how and when to account for the forgiveness of the loan. Although the legal form of the PPP loan is debt, some believe that the loan is a government grant. […]
July 08, 2020
This article was originally published on April 22nd and was most recently updated on July 8th. It is being updated as new information becomes available. On July 4th, President Trump signed a bill into law extending the Paycheck Protection Program through August 8, 2020. Banks and the SBA had stopped approving loan applications on June […]
June 30, 2020
On June 18, 2020, the Office of Management and Budget (OMB) issued Memorandum M-20-26, Extension of Administrative Relief for Recipients and Applicants of Federal Financial Assistance Directly Impacted by the Novel Coronavirus (COVID-19) due to Loss of Operations, which will impact organizations that have received federal funds under the COVID-19 Emergency Acts and organizations that […]
June 29, 2020
Congress enacted the CARES Act to provide immediate assistance to individuals, families, and organizations affected by the COVID-19 emergency. Among the provisions contained in the CARES Act are provisions authorizing the Small Business Administration (SBA) to temporarily guarantee loans under the Paycheck Protection Program (PPP). The SBA previously issued guidance that an entity is eligible […]
June 16, 2020
Can my not-for-profit use donor-restricted funds for operating expenses during this COVID-19 crisis? As a general matter, not-for-profits cannot use donor-restricted funds for other expenses. If funds have been restricted by a donor, then that restriction remains, even in these extraordinary times. Restrictions on donations are typically made in writing by the donor (verbal restrictions […]
June 08, 2020
With the current economic situation, some manufactures have had delays in production, reductions in orders, and temporary closures. Depending on the size of the company, you may have received a PPP or EIDL loan, or you may be weathering the times on your own. Regardless of your situation, we put together the following actions you […]
June 04, 2020
by Mickie Murphy, Blue Benefits Consulting | This article was originally published on March 24th and was most recently updated on June 4th. It is being updated as new information becomes available. We have answers to questions employers are asking about their plans: Changes to Plan Contributions Can employees stop their deferral contributions? Employees may […]
May 18, 2020
This article was originally published on May 18th and was most recently updated on June 18th. It is being updated as new information becomes available. The U.S. Department of Treasury released revised PPP loan forgiveness applications on June 17th in response to changes enacted by the Paycheck Protection Program Flexibility Act of 2020. In doing […]
May 18, 2020
On May 15, the House of Representatives passed the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, a $3 trillion stimulus package that would provide additional relief during the ongoing COVID-19 pandemic. This relief is provided in several ways such as additional funding for state and local governments, additional stimulus checks for individuals, additional […]
May 13, 2020
May 13th Update: The IRS had issued previous guidance stating that companies which were not paying wages but were paying health benefits for unpaid, furloughed workers were not entitled to the benefits under the Employee Retention Credit. The tax credit is worth up to $5,000 calculated as 50% of wages and health benefits up to […]
May 13, 2020
As you plan to spend funds received through the Paycheck Protection Program (PPP) loan, there are many considerations not-for-profit organizations need to take into account. Not only must you plan to spend funds for allowable purposes (including payroll and benefits, rent, and utilities) to obtain forgiveness of all or a portion of the amounts borrowed, you […]
May 05, 2020
Cash flow management is a critical exercise during uncertain times like these and one that is top of mind for every business owner. It involves managing every aspect of the business that can have an effect on cash inflows or outflows, including focusing on accelerating inflows, prioritizing spending, and overall allocation of valuable resources. Where […]
May 04, 2020
With the needs of our world constantly changing due to the effects of the COVID-19 pandemic, non-profit organizations find themselves having to rethink their operations, short-term missions, and revenue streams. The new charitable contribution deduction provisions outlined in the CARES Act may be an opportunity to attract a new base of donors or get additional […]
May 04, 2020
The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes extensive provisions for providing massive fiscal relief to not just businesses, but individual Americans. One of the most immediate forms of relief comes by cutting direct checks to many Americans. For details and stipulations of these relief checks, check out our CARES Act overview here. […]
April 23, 2020
Transfer Pricing, Generally Transfer pricing compliance applies to all U.S. companies having either a foreign subsidiary or a foreign parent company. IRS transfer pricing rules require that intercompany pricing between a U.S. company and a foreign affiliate must be based on an “arm’s length” price that would be charged in a similar transaction with an […]
April 22, 2020
The construction industry is likely to experience a lag in feeling the more significant impacts of COVID-19. Investors and owners will likely see current projects through completion, which will maintain the backlog that existed for construction firms when COVID-19 was declared a pandemic. This means many construction firms may not currently feel impacted by the […]
April 22, 2020
On April 17, 2020, the Treasury Department released additional guidance for taxpayers seeking to take advantage of recently passed legislation included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). A long-awaited fix for Qualified Improvement Property was retroactively provided for in the CARES Act, and taxpayers have been eager to find out […]
April 15, 2020
On Friday, April 10, 2020, the Internal Revenue Service offered some additional guidance to taxpayers who are benefiting from some of the relief provisions of the CARES Act. One such provision allows employers to defer the deposit and payment of the employer’s share of FICA (Social Security taxes) incurred through December 31, 2020. These deposits […]
April 13, 2020
The CARES (Coronavirus Aid, Relief, and Economic Security) Act, signed on March 27, 2020, by President Trump, contains key provisions that expand the types of workers eligible for a new supplemental Unemployment Insurance compensation program. The amount payable under this program is $600 per week for a period of four months. There are three key […]
April 13, 2020
News comes fast in the rapidly-changing environment we all currently live in, and the U.S. Department of the Treasury is no exception. Last week, the Treasury and Federal Reserve Board announced the establishment of new lending programs to help businesses and state and local governments affected by the COVID-19 pandemic. Additionally, the Treasury and the […]
April 13, 2020
In these unprecedented times in the midst of the COVID-19 pandemic, employees are likely incurring a variety of unplanned expenses, and employers may want to provide some financial assistance to their employees to help them recover from the economic hardships imposed by this pandemic. The IRS provides some tax relief for these circumstances in the […]
April 13, 2020
This article was originally published on March 30th and is being updated as new information becomes available. The Internal Revenue Service (IRS) announced on April 9, 2020, that informational tax return due dates have been extended in light of the coronavirus pandemic. Not-for-profits with filing deadlines of April 1, 2020 to July 14, 2020 now […]
April 13, 2020
UPDATE: On April 3, 2020, the Kentucky Department of Revenue clarified their position on the applicable filers eligible for the extended filing and payment due date of July 15, 2020. The following tax returns and payments currently due April 15, 2020, can be filed and paid by July 15, 2020, without incurring penalties and interest: Form […]
April 10, 2020
It is in times like the current COVID-19 pandemic where our national and global economies are facing historic challenges that organizations are confronted with the need to make paradigm shifts to stay viable and sustainable. As many organizations were preparing their 2020 financial budgets, fundraiser calendars, and establishing strategic plans, few, if any, were prepared […]
April 02, 2020
This article was originally published on March 30th and is being updated as new information becomes available. On Friday, March 27, the President signed and enacted into law the Federal stimulus bill in response to the COVID-19 virus, known as the CARES Act. Many key provisions in the Act benefit small businesses and nonprofit agencies, […]
March 31, 2020
This article was originally published on March 17th and is being updated as new information becomes available. Please note this article is intended to address some of the most common questions we are receiving from clients and is not intended to cover the provisions of the Act fully. The U.S. Department of Labor has developed […]
March 30, 2020
This article was originally published on March 25th and is being updated as new information becomes available. We created this Q&A as a general, high-level guide for our clients on common business items relating to the COVID-19 pandemic. We will be continually updating when new information becomes available. What general advice are you giving to clients? There’s […]
March 27, 2020
On Friday, March 27, the President signed and enacted into law the Coronavirus Aid, Relief and Economic Security (CARES) Act. The Act builds upon earlier versions of the CARES Act and is intended to be the third round of federal government support in the wake of the coronavirus public health crisis and associated economic fallout, […]
March 20, 2020
This article was originally published on March 17th and is being updated as new information becomes available. Tax Deadline Extension Announced by Treasury Secretary & IRS This morning, Friday, March 20, Treasury Secretary, Steven Mnuchin, announced on Twitter that the upcoming April 15th tax deadline will be postponed until July 15th. All individuals and corporations […]
March 20, 2020
This article was originally published on March 18th and is being updated as new information becomes available. Amidst the uncertain environment due to coronavirus (COVID-19), we created this FAQ page to help our clients and friends of the firm stay current on matters that affect their businesses, employees, and their own finances. This page will […]
March 19, 2020
The Indiana Department of Workforce Development (DWD) will host two live webinars for Hoosiers impacted by the COVID-19 crisis. The 30-minute live programs will be held at 10:30 a.m. on Tuesday, March 24, and at 3 p.m. on Wednesday, March 25. The program will cover unemployment eligibility requirements, the formula and amounts determined by Indiana State Statute […]
March 19, 2020
You’ve heard it over and over, probably one hundred times in the last week alone. “Wash your hands” is the repeated message conveyed by the World Health Organization (WHO) and the Centers for Disease Control (CDC) as a means to prevent the spread of COVID-19. Hand sanitizer has become a critical commodity in helping to […]
Webinars
November 17, 2021
President Biden’s administration recently announced its Path Out of the Pandemic action plan which included specific guidance around a COVID-19 vaccine mandate. The action plan calls for employers with 100 or more employees to require employees to be vaccinated or submit to weekly tests, as well as requiring vaccinations for federal employees, contractors, and hospitals […]
January 08, 2021
Join Us! Join us for a recording and materials from a webinar entitled COVID Relief Bill – PPP, ERC, and other Business Provisions. The panelists will discuss: The Paycheck Protection Program (PPP) process and any changes within the new relief package including Deductibility Forgiveness Application and Process Second Draw Loans Employee Retention Credit (ERC) Families First […]
January 08, 2021
Join us on Friday, January 15 from noon until 1 p.m. for the Provider Relief Funds: Responsibility & Recognition webinar, presented by Blue & Co. and the HFMA Western Pennsylvania Chapter. In this session, attendees will: Become familiar with the Three Phases of Stimulus Releases Have access to relevant resources from HHS, OMB, & AICPA […]
December 11, 2020
It’s webinar season at Blue & Co., LLC.! Check out all of our upcoming events for the week of December, 14. Monday, December 14 Panel Discussion Regarding Paycheck Protection Program (PPP) Webinar – Free to attend On Monday, December 14 from noon – 1 p.m. EST, Blue & Co., LLC will be hosting a panel […]
December 09, 2020
Join us for a recording of our Panel Discussion regarding the Paycheck Protection Program (PPP). Panelists will discuss the most common questions they are receiving regarding PPP. The Panelists will discuss: Forms and documentation needed for the forgiveness application EIDL and EIDL Advances and affects on forgiveness Forgiveness application timelines The “necessity forms” and loans […]
October 23, 2020
Join Blue & Co. as we facilitate a town hall discussion with Indiana manufacturers featuring panelists who will be sharing how their organizations have been addressing the challenges and opportunities created by the COVID-19 Pandemic. As we discuss an overview of our Covid-19 Pandemic survey results, we will also be joined by panelists who will […]
September 27, 2020
Join us Thursday, October 1st from Noon to 1 PM Eastern. Join Michael Alessandrini, Rebecca Meredith, and Nicole Cameron on October 1st from Noon to 1 PM Eastern as they discuss the 2021 IPPS Final Ruling with Kentucky HFMA. They will review the Final 2021 Inpatient Prospective Payment System rule and look at changes in […]
September 21, 2020
Join Medical Marketing Whiz and Walt Eckert of Blue & Co., as they discuss How Outsourcing Can Grow Your Practice. You’re going to learn: Learn when it is the right time to outsource specific services for your business Understand the benefits of hiring an experienced expert at a fraction of the cost of a full-time […]
August 31, 2020
Join Medical Marketing Whiz and Tom Skoog of Blue & Co., as they discuss Cybersecurity: 5 Action Steps to Protect Your Practice. A lack of focus on cybersecurity can be greatly damaging to a practice. The direct economic impact such as attacks, theft of private information, disruption to business, and repairing affected systems can be […]
August 10, 2020
Join Medical Marketing Whiz and David Sproule of Blue & Co., as they discuss Tips for Keeping & Increasing Cash Flow of Your Practice. You’re going to learn: What you can do today to help you through the Covid-19 pandemic Find out if you’re making the major financial mistake that will destroy your practice Discover […]
July 29, 2020
Join KAM and Blue & Co. as we facilitate a town hall discussion with Kentucky manufacturers. To get started, please complete this short, 10-minute survey about how your organization has responded to COVID-19 (complete the survey here). As we discuss an overview of this survey, we will also be joined by panelists who will be […]
June 08, 2020
Our manufacturing team partnered with the Ohio Society of CPAs (OSCPA) to facilitate a town hall discussion with Ohio manufacturers in June 2020. We asked participants to complete a survey about how their organizations have been affected by the new challenges facing manufacturers in the marketplace and how they’ve responded. Fill out the form below […]
June 01, 2020
Just as COVID-19 has wreaked havoc on the health and well-being of patients across the globe, so too has the virus had a wide-spread, crippling impact on our health system and providers. One side-effect of the unprecedented response to limit the spread and morbidity of the pandemic has been a sudden and steep decrease in […]
May 26, 2020
In this webinar, Jeff Moffatt and Dustin Brown will be discussing what impact COVID-19 has and will continue to have on physician and hospital relationships, including recruiting, retention, compensation, productivity, and compliance with the various laws and regulations set by the federal government. Duration: 1 hour This webinar is free to attend. Speakers: Jeff Moffatt, […]
May 05, 2020
The CARES Act includes the Paycheck Protection Program (PPP) for small businesses to receive loans through banks administered by the Small Business Administration. It happened so quickly, that it resulted in many unanswered questions about this new law and process. In this webinar, Stephen Mann, Jennifer Miloszewski, and Damien Strohmier will discuss the key points […]
May 04, 2020
For this webinar, we partnered with the Ohio State Medical Association (OSMA). Managing a medical practice has always been difficult. However, during times of uncertainty, effective leadership is paramount. So how do you effectively lead and manage a medical group when the world is turned upside down, every conversation seems difficult and relatively simple decisions […]
April 27, 2020
For this on-demand webinar, we partnered with the Ohio State Medical Association (OSMA) to cover common questions we have been receiving about the Paycheck Protection Program and Loan Forgiveness in relation to physician practices. Directors Kam McQuay, Stephen Mann, and David Sproule illustrate the mechanics associated with the forgiveness clause and some planning insights that […]
April 16, 2020
This on-demand webinar covers common questions we have been receiving about the Paycheck Protection Program and Loan Forgiveness. Directors JT Loughmiller and Stephen Mann illustrate the mechanics associated with the forgiveness clause, as well as some planning insights that should be considered. Duration: 30 Minutes Speakers: JT Loughmiller, Director Stephen Mann, Director Fill out the […]
April 14, 2020
In this webinar, we are addressing how healthcare providers can navigate coronavirus response legislation and continue to be successful in serving patients. We will cover topics including: Legislative Highlights Healthcare Implications (including Telehealth) Reimbursement & Regulatory Issues Cash Flow & Access to Capital Speakers: Mike Alessandrini, Director Derek Gray, Director Tony Javorka, Director Kam McQuay, […]
April 03, 2020
In the current climate, more organizations are being forced into remote work scenarios, whether or not they’re ready. We put together this webinar to discuss best practices and lessons learned to help you be successful in this new environment. We will cover the following topics: Organizational Lessons Learned Technology Basics (for your people) Technology Basics […]
April 03, 2020
The Coronavirus Aid, Relief and Economic Security (CARES) Act is intended to be the third round of federal government support in the wake of the coronavirus public health crisis and associated economic fallout, succeeding the $8.3 billion in public health support passed previously and the Families First Coronavirus Response Act. The CARES Act provides more […]
April 03, 2020
In this webinar, we will be partnering with Tami Earnhart from Ice Miller, LLP to discuss the employment issues related to the Families First Coronavirus Response Act (FFCRA) and other COVID-19 relief efforts. We will cover the following: General summary of the regulation and its impact including: Paid sick pay for affected employees Paid emergency […]
Healthcare Industry News & Response
March 08, 2023
We’re entering the final weeks of Period 4 reporting period that closes on March 31, 2023. Period 4 reporting is required for any organization that received more than $10,000 in the aggregate from the Phase 4 PRF distributions and the ARP Rural payment between 7/1/21 and 12/31/21. Most recipients of Phase 4 and ARP Rural […]
July 14, 2022
Reporting on Provider Relief Funds for Period 3 opened on July 1, 2022 and runs through September 30, 2022. Period 3 reporting is for any PRF payments you may have received between January 1, 2021 to June 30, 2021. Compared to Period 1 and Period 2, there were very limited payments made by HRSA in […]
January 11, 2022
It’s the second week of January and the Provider Relief Fund reporting portal is open for Period 2 reporting. The portal will remain open until March 31, 2022 and is for reporting on payments received between July 1, 2020 and December 31, 2020. The layout and design of the portal is unchanged from Period 1, […]
December 15, 2021
HRSA is prepared to send out $9B of Phase 4 PRF payments to providers this week. 75% of Phase 4 applications are processed and ready to be paid this week with over 69,000 providers receiving a payment. HRSA will send all communication through email as payments are processed and will also send communication if no […]
November 17, 2021
President Biden’s administration recently announced its Path Out of the Pandemic action plan which included specific guidance around a COVID-19 vaccine mandate. The action plan calls for employers with 100 or more employees to require employees to be vaccinated or submit to weekly tests, as well as requiring vaccinations for federal employees, contractors, and hospitals […]
October 18, 2021
We have a short PRF update this week as the ARP Rural application deadline approaches. Reminder: The application portal closes at 11:59 p.m. on Tuesday, October 26. Before you can fill out and submit your application, your organization needs to validate or revalidate your TIN. HRSA says it could take up to 4 days, but […]
October 12, 2021
We are two weeks away from the deadline to submit your Phase 4 and ARP Rural Payment Application. These applications are due on October 26. If you haven’t started the process yet, please do so this week. Part of the application involves validating your Tax ID Number (TIN) with the IRS, and HRSA is saying […]
October 04, 2021
Last week HRSA opened the application portal for the PRF Phase 4 distributions and the American Rescue Plan (ARP) Rural payments available to providers across the country. The biggest news is that the ARP Rural payment is not limited to only rural providers, but any provider who has provided services to rural patients. Given the […]
September 27, 2021
As we approach the September 30th deadline to submit PRF reporting documents, join Blue & Co. advisors on Friday, October 1st at 12 p.m. EST for a webinar covering recent information released by HRSA. During this webinar, our team will cover information regarding the application for more money that opens up on September 29th, as […]
September 13, 2021
Friday afternoon HRSA announced Phase 4 of PRF funding and the $8.5B of American Rescue Plan (ARP) payments as well as the outline of how those payments will be administered. Payments between the two programs are anticipated to be $25.5B and will be made to providers who submit an application detailing lost revenues and COVID-19 […]
July 26, 2021
On July 20th, HRSA hosted a Reporting Technical Assistance Session regarding the Provider Relief Funds Portal. A few members of the Blue & Co. team attended this online session and took away some key pieces of information that will hopefully provide some guidance to your organization as you work your way through the provider relief […]
July 06, 2021
The PRF reporting portal opened last Thursday as previously announced. There’s a lot to review but the biggest update was to the lost revenues calculations, which will hopefully be welcomed news for many providers. Weekly Insights The lost revenues calculation has once again been updated, per the details on Period 1 calculations provided by the […]
June 17, 2021
After months of relative silence and the 6/30/21 deadline to use PRF funds looming, HHS released updated reporting requirements Friday afternoon. There are both new and familiar concepts in the updated reporting guidelines. Below in our Weekly Insights, we provide as much of the detail as possible and highlight changes we believe are most important […]
June 10, 2021
The American Rescue Plan Act of 2021 authorized $460 million of additional funding through the U.S. Department of Health and Human Services (HHS) to more than 4,600 eligible RHCs for the Rural Health Clinic COVID-19 Testing and Mitigation Program. This rescue fund will allow RHCs to expand testing efforts and help mitigate the spread of COVID […]
May 27, 2021
On May 26, 2021, the Health Resources and Services Administration’s (HRSA) Federal Office of Rural Health Policy (FORHP) posted the Rural Health Clinic Vaccine Confidence Grant. HRSA will award all eligible RHCs who apply for grant funding. You must have a completed and acceptable application submitted. Grant awards are expected to be around $50,000 per […]
April 05, 2021
Provider Relief Funds Update Last week HHS updated their FAQ’s for the first time in almost a month. We did learn that the period to incur COVID-19 expenses and lost revenues is still set to end on 6/30/21 and there was no mention of an extended time period. For now, HHS is moving ahead with […]
March 15, 2021
Weekly PRF Update There still have been no updates from HHS for reporting on PRF payments for the 2020 calendar year, but the passage of the American Rescue Plan (ARP) Act of 2021 offered new details on the requirements for a new round of PRF payments. Section 1150C appropriates another $8.5B to the Provider Relief […]
March 01, 2021
The past few weeks have continued to be slow with very little new information on the Provider Relief Fund (PRF) reporting requirements. HHS released four new FAQs on 2/24/21 surrounding COVID-19 expense reporting. The theme among these FAQs is that HHS expects PRF payments to be used for unreimbursed costs and that when claiming COVID-19 costs, […]
February 15, 2021
PRF Weekly Update The past few weeks have been quiet with no new information from HHS regarding the Provider Relief Fund (PRF) and reporting requirements. The last FAQs were posted in late January as we await the opening of the reporting portal. This week we wanted to focus on determining how much of your organization’s […]
February 01, 2021
Another quiet week on the Provider Relief Fund updates from HHS. Numerous FAQs were updated and modified this week, but none were entirely new. They offered a few additions to the January 15, 2021 Post Payment Reporting Notice with two items of note: A question was asked if only April and May 2020 lost revenues […]
January 25, 2021
We’ve had a quiet week on HHS updates after the January 15th revisions to the post payment reporting. No new FAQs were published either. With inauguration day last Wednesday, we’re awaiting information from the incoming HHS administration. In lieu of other updates, our primary take away for the week is to ensure that you register your […]
January 18, 2021
Two important events happened this past Friday morning regarding the Provider Relief Fund. First, the reporting portal did not open as previously announced and providers do not need to begin reporting on the use of their funds yet. Second, additional reporting requirements and documents were released by HHS to incorporate the December 22, 2020 COVID […]
January 11, 2021
HHS has announced that the Provider Relief Funds Reporting Portal is expected to open on January 15th. We have put together a game plan for your organization covering the reporting requirements for HHS and to maximize both your time and the amount of PRF payments that you’ll be able to keep. WEEKLY INSIGHTS Monday, 1/11 […]
January 08, 2021
Join us on Friday, January 15 from noon until 1 p.m. for the Provider Relief Funds: Responsibility & Recognition webinar, presented by Blue & Co. and the HFMA Western Pennsylvania Chapter. In this session, attendees will: Become familiar with the Three Phases of Stimulus Releases Have access to relevant resources from HHS, OMB, & AICPA […]
December 28, 2020
Your Weekly Provider Relief Fund (PRF) Update There has a been a flurry of information coming from Washington in the last week surrounding the Provider Relief Fund (PRF). In addition to the COVID relief bills and other spending bills, HHS continues to release FAQs on the PRF and the Office of Management and Budget (OMB) […]
December 22, 2020
Provider Relief Funds Weekly Update: Lost Revenues and Additional COVID Relief On December 21, 2020, Congress passed an additional COVID Relief Bill that made significant updates to the Provider Relief Fund. One of the changes surrounded the calculation of Lost Revenues and the ability of recipients to use budgeted revenues as a measurement. This marks […]
December 14, 2020
Provider Relief Fund (PRF) Update In this weeks Provider Relief Fund payments update, we are focusing on what constitutes as healthcare related expenses attributable to coronavirus. WEEKLY INSIGHTS The expenses need to meet two broad primary characteristics: Must relate to costs to prevent, prepare for, or respond to coronavirus. Specifically from recent FAQs, the costs […]
December 11, 2020
It’s webinar season at Blue & Co., LLC.! Check out all of our upcoming events for the week of December, 14. Monday, December 14 Panel Discussion Regarding Paycheck Protection Program (PPP) Webinar – Free to attend On Monday, December 14 from noon – 1 p.m. EST, Blue & Co., LLC will be hosting a panel […]
December 07, 2020
Provider Relief Fund (PRF) Update This week we investigate a critical phrase used by HHS repeatedly in the 11/2/20 Post Payment Notice and FAQs. In addition, we will review what the definitions of “net of reimbursed sources” and how this functions in determining what amount of Provider Relief Fund payments your organization will be able […]
November 30, 2020
Reporting for Provider Relief Fund (PRF) payments is anticipated to begin on January 15, 2021. Blue & Co., LLC understands that the information surrounding the use of Provider Relief Fund payments and subsequent reporting changes daily. Much like you, we have questions on the implementation and are working to advise you on how to best approach […]
SBA to Review Paycheck Protection Program Loans Over $2 Million Through Loan Necessity Questionnaire
October 29, 2020
Updated on Friday, October 30, 2020. The Small Business Administration (SBA) will be requesting borrowers complete loan necessity questionnaires for those with PPP loans totaling $2 million or more. This questionnaire is part of a review process to assess the SBA’s evaluation of borrowers’ good-faith certification of their economic need. In the memo the SBA […]
September 25, 2020
On September 19th HHS released updated reporting guidelines for CARES act funding from General and Targeted distributions. Included in this announcement is a shift in the definition and calculation of “Lost Revenues”. Previous announcements and attestations indicated Provider Relief Funds (PRF) could report their use by either lost revenues or costs incurred to treat, prepare, […]
September 22, 2020
Effective January 1, 2021, hospitals must comply with HHS’ new hospital price transparency rule that requires facilities to create and maintain a public list of their standard charges, including private payer-negotiated rates, for 300 “shoppable” services. The American Hospital Association (AHA) and others have argued that the requirement for disclosing private payer rates exceeds the […]
June 25, 2020
Effective Immediately: the CMS has made updates to the Nursing Home Compare Website and Five Star Quality Rating System. Under the COVID-19 Emergency Declaration Blanket waiver, CMS waived the requirements for submitting staffing data to the Payroll-Based Journal database (PBJ). CMS is ending this waiver and facilities are required to resume submission of staffing data […]
May 22, 2020
On May 22, CMS announced it has begun distributing billions in relief funds to skilled nursing facilities to combat COVID-19. This funding is to help nursing homes to address critical needs such as labor, scaling up their testing capacity, PPE and other expenses directly related to the pandemic. Distribution Methodology: Each nursing home will receive […]
May 18, 2020
The Centers for Medicare and Medicaid Services, on May 18, 2020, issued guidance for state and local officials to ensure the safe reopening of nursing homes nationwide. The purpose of these guidelines per CMS is to give guidance for states to take appropriate and necessary steps to ensure resident’s safety. One main objective of CMS […]
May 01, 2020
On April 30, 2020, CMS issued a second round of sweeping changes to support the healthcare system during the COVID-19 Pandemic. One of these changes is the waiving of limitations on the types of clinical practitioners that can furnish Medicare telehealth services. Prior to this change, only doctors, nurse practitioners, physician assistants, and certain others […]
April 30, 2020
This article was originally published on March 27th and has been updated as of April 30th. It will continue to be updated as new information becomes available. Can RHCs and FQHCs bill for telehealth? On March 27, 2020, President Trump signed the CARES Act into law. The CARES Act includes language that does allow RHCs […]
April 23, 2020
This article was originally published on March 25th and was updated on April 23rd. It is being updated as new information becomes available. We wanted to provide updates on the most recent HRSA announcements that could impact your 340B Program during the COVID-19 crisis. 340B Eligibility HRSA recently announced that it “is allowing some entities, […]
April 20, 2020
On Friday, April 17, 2020, CMS finally released guidance for RHCs and FQHCs in terms of telehealth distant site services. Below is a snapshot of the information released in the MLN Matters Article. A link to the full release can be found here. The guidance from CMS will apply to claims dating back to January […]
April 08, 2020
We wanted to provide an update on the recent memorandum from the Office of Management and Budget, which provides agencies with additional flexibilities for recipients affected by the loss of operational capacity and increased costs due to the COVID-19 crisis. Below are the details of the memorandum: Administrative Relief Exceptions for COVID-19 Crisis Flexibility with […]
April 03, 2020
This article is being updated as new information becomes available. It was originally published on April 3rd and was most recently updated on May 1st with additions to the Specimen Collections section based on updates from CMS on April 30th. In response to the COVID-19 pandemic, the CMS, the CDC, and the AMA have each […]
April 02, 2020
CMS has granted an extension for hospitals nationwide to file their Occupational Mix Surveys (OMS). The original due date of July 1, 2020, has been extended to August 3, 2020. Every three years, the Centers for Medicare and Medicaid Services (CMS) requires any hospital that is subject to the Inpatient Prospective Payment System (IPPS) to […]
March 25, 2020
COVID-19 is creating a dip in outpatient therapy appointments … and revenues. However, due to recent regulatory waivers announced by CMS, hospitals have a unique opportunity to provide therapy services within the patient’s home. The following two options should be considered: Option 1: E-Visits The CMS has recently clarified that e-visit services are reimbursable by […]
March 25, 2020
On March 24, 2020, multiple Medicare Administrative Contractors (MACs) have announced CMS has extended the due date for cost report filings. The providers covered in this extension include Hospitals, Rural Health Clinics, Federally Qualified Health Centers, Home Health Agencies, and Hospice providers. This extension is a blanket extension, meaning the providers do not need to […]
March 24, 2020
Under this new waiver, Medicare can pay for office, hospital, and other visits furnished via telehealth across the country, including in patients’ places of residence, starting March 6, 2020. A range of providers, such as doctors, nurse practitioners, clinical psychologists, and licensed clinical social workers, will be able to offer telehealth to their patients. Additionally, […]
March 24, 2020
We wanted to share an urgent update on the impending billing changes that were scheduled to take effect on 4/1/2020. In a communication we acquired today from Jessin Joseph, Pharmacy Director with KY Department of Medicaid Services, it was announced the Department has made the decision to delay the implementation of the required 340B modifiers […]
March 23, 2020
On March 22, 2020, the Centers for Medicare and Medicaid Services (CMS) announced it is granting exceptions from reporting requirements and extensions for clinicians and providers participating in Medicare quality reporting programs with respect to upcoming measure reporting and data submission for those programs. This applies to Skilled Nursing Facility (SNF) Quality Reporting Program (QRP) […]
March 16, 2020
The Federal Department of Health and Human Services issued an updated memo on COVID-19 protocols from Centers for Medicare & Medicaid Services (CMS) official, David Wright. The memo states: Facilities should restrict visitation of all visitors and non-essential health care personnel, except for certain compassionate care situations, such as an end-of-life situation. In those cases, […]
Healthcare Industry External Resources
Blue & Co. Firm Updates
May 04, 2023
CARMEL, Ind. (May 3, 2023) – Blue & Co., LLC is honored to be named among the Best Places to Work in Kentucky by the Kentucky Chamber of Commerce, the Kentucky Society for Human Resource Management (KYSHRM) and ClearPath Mutual Insurance Company. This is the 12th year Blue & Co. has made the list as […]
March 02, 2023
CARMEL, Ind. (March 2, 2023) – Blue & Co., LLC is honored to be named among Indiana’s Best Places to Work by the Indiana Chamber of Commerce. This is the 14th year Blue & Co. has made the list and the fourth year to be designated as a Hall of Fame company for displaying sustained […]
February 15, 2023
CARMEL, Ind. – Blue & Co., LLC is delighted to share that Kayla May, CPA, has been selected as a 2023 Indy’s Best & Brightest Honoree by the Junior Achievement of Central Indiana. The event honors 100 of central Indiana’s most outstanding young professionals in 10 different industries. “Junior Achievement of Central Indiana is such […]
January 31, 2023
CARMEL, Ind. (January 31, 2023) – – Blue & Co., LLC is proud to announce that Alan Baker has been named the firm’s Director of Accounting and Auditing and the Chair of the Audit, Accounting and Quality Control Committee effective January 1, 2023. “The directorship and I are thrilled to name Alan Baker to this […]
January 05, 2023
CARMEL, Ind. (January 5, 2023) – Blue & Co., LLC and Blue Benefits Consulting, Inc. are delighted to share that Mickie Murphy, CPC, QKA, QPA, QKC, ERPA, has been named President of Blue Benefits Consulting (BBC). “I am pleased to announce that Mickie Murphy has been promoted to President of Blue Benefits Consulting, Inc.,” Brad […]
January 04, 2023
CARMEL, Ind. (January 4, 2023) – – Blue & Co., LLC is proud to announce the 2023 director promotions of Shawn Adams, Patrick Brown, Angela Crawford, Priya Singleton, Peter Szostak, Tabitha Tolliver, and Scott Wilson, effective January 1, 2023. Shawn Adams is a new Director in Blue’s healthcare department serving Alabama hospitals with more than […]
January 11, 2021
We are thrilled to once again been named as one of the 2020 Best Employers in Ohio! “We strive to be a little better each year and being named a Best Employer in 2020 is an important part of measuring our progress. I am so proud of our people!” stated Larry King, Director in Charge […]
December 11, 2020
It’s webinar season at Blue & Co., LLC.! Check out all of our upcoming events for the week of December, 14. Monday, December 14 Panel Discussion Regarding Paycheck Protection Program (PPP) Webinar – Free to attend On Monday, December 14 from noon – 1 p.m. EST, Blue & Co., LLC will be hosting a panel […]
September 10, 2020
For the ninth consecutive year, competing as a medium-sized business, Blue & Co., LLC was named as one of the Best Places to Work in Kentucky. “We are thrilled to have been named as one of the 2020 Best Places to Work in Kentucky!”, stated Dale Skaggs, Director in Charge, for Blue & Co.’s Louisville […]
March 23, 2020
Today, Indiana Governor Eric Holcomb released a “stay at home” order for the state, starting Tuesday, March 24, at 11:59 p.m., through 11:59 p.m. on April 6. This order mandates that all Hoosiers stay in their homes for all but essential outings and that all “non-essential” businesses close. Yesterday, Ohio Governor Mike DeWine released a […]
March 18, 2020
As the impact of coronavirus (COVID-19) continues to evolve, we wanted to make all clients aware of the options available to them when it comes to submitting documents. In an effort to protect our employees, clients, vendors, and visitors, we have closed our offices to non-employees, following protocols recommended by the Centers for Disease Control […]
March 16, 2020
As the impact of the coronavirus (COVID-19) continues to evolve, we wanted to let you, our valued clients and friends of the firm, know that Blue & Co. is actively monitoring the situation, along with our business communities. As such, the health and safety of our team, clients, and the friends of our firm is […]
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September 21, 2022
By Aaron Blackburn, CPA, and Amy Sandlin, CPA, Senior Tax Manager On Wednesday, August 24th, 2022, President Biden announced the broadest student loan forgiveness plan to date. The plan included forgiving up to $10,000 in Federal Student Loans for individuals and families making under $125,000 and $250,000, respectively. If the borrower was a recipient of […]
June 10, 2021
The American Rescue Plan Act of 2021 authorized $460 million of additional funding through the U.S. Department of Health and Human Services (HHS) to more than 4,600 eligible RHCs for the Rural Health Clinic COVID-19 Testing and Mitigation Program. This rescue fund will allow RHCs to expand testing efforts and help mitigate the spread of COVID […]
March 03, 2021
By: Damien Strohmier, CPA, CCIFP Note: On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which includes the following provisions related to the employer tax credits discussed in this article: Extension of the period for which the credit for providing paid sick and family leave may be taken from […]
February 15, 2021
By: Alan Zgoda, CPA, and Derek Gray, CPA Subsidy Payments CARES Act The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law on March 27, 2020, provided stimulus to the U.S. economy through a variety of methods. One significant method was in the form of the Small Business Administration (SBA) being authorized […]
February 12, 2021
By: Damien Strohmier, CPA, CCIFP Eligibility criteria for the second draw loans includes terminology that misled several companies to believe they were not eligible to apply. This article will review the eligibility requirements and specifically review the 25% reduction in gross receipts test that has been frequently misinterpreted. Employee Threshold For a borrower to be […]
December 21, 2020
A deal on the rescue package to deliver aid to struggling Americans has suddenly come within reach after a major breakthrough on Saturday, December 19, that was ultimately agreed to by both the House and the Senate late on Sunday night. Lawmakers are expected to vote late on Monday and send the bill to […]
November 23, 2020
By Kevin Umberger Senior Manager at Blue & Co. 2020 has been a year of tremendous uncertainty. As this year ends, we take this opportunity to refresh the tax planning strategies that will be most applicable to your tax situation in 2020 and the years beyond. Now that we are past (well, sort-of past) the […]
November 19, 2020
As we approach the end of 2020, many taxpayers and tax practitioners have been pondering whether or not expenses that were incurred in 2020 and paid with Payroll Protection Program (PPP) proceeds would be deductible in the current year if the PPP loan wasn’t forgiven until next year. On November 18, the IRS released much-awaited […]
SBA to Review Paycheck Protection Program Loans Over $2 Million Through Loan Necessity Questionnaire
October 29, 2020
Updated on Friday, October 30, 2020. The Small Business Administration (SBA) will be requesting borrowers complete loan necessity questionnaires for those with PPP loans totaling $2 million or more. This questionnaire is part of a review process to assess the SBA’s evaluation of borrowers’ good-faith certification of their economic need. In the memo the SBA […]
October 05, 2020
At Blue & Co. LLC, we continue to monitor and disseminate impactful information to our clients in connection with their PPP loans advanced through the SBA in connection with the CARES Act. Some clients that have received PPP funds have raised concerns about entering into transactions (on either the sell or buy side) with parties […]
August 27, 2020
Guidance on Related Party Rent In this Interim Final Rule, the SBA addressed three issues many companies face. The most significant is related party rent. C corporations and S corporations. The SBA has made it clear that owner employees with less than a 5 % ownership in a C or S Corporation are not subject […]
August 18, 2020
On Saturday, August 8th, President Donald Trump signed four executive actions relating to COVID-19 relief. The orders provide for a payroll tax deferment, an extension of the deferment of student loan payments and interest accrual, as well as a potential $400 per week in Federal Pandemic Unemployment Compensation. The last order instructs the Director of […]
August 18, 2020
The Small Business Administration (SBA), in consultation with the Department of the Treasury, issued additional guidance (in the form of FAQs released on August 11th) regarding PPP Loan Forgiveness for funds advanced as part of section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as amended by the Paycheck Protection Program […]
August 11, 2020
The Small Business Administration (SBA), in consultation with the Department of the Treasury, issued additional guidance regarding PPP Loan Forgiveness for funds advanced as part of section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as amended by the Paycheck Protection Program Flexibility Act (Flexibility Act). We compiled key takeaways from […]
March 17, 2020
Many companies currently operating in a remote work business model are asking questions about how to keep effectively collaborating as if their employees were in person. It’s easy to take collaboration for granted in our day-to-day work lives. In a remote or work from home (WFH) environment, physical aspects need to be replaced in other […]
March 13, 2020
As the uncertainty of the impacts of COVID-19 (coronavirus) continues, many organizations are considering Work From Home (WFH) or remote work contingency plans or reevaluating WFH plans already in existence. While few companies have yet to implement this contingency as a mandatory requirement for employees, the potential for the enactment of these plans has never […]
July 02, 2019
With the roll-out of value-based care programs that focus on patient outcomes, health systems and health plans are using telehealth in a proactive way, reaching out to patients facing transitions in care, closing patient gaps in care and tracking treatment adherence for patients with chronic care management plans. Telehealth assists to create care management and […]
