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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Webinars

CARES act webinar

On-Demand Webinar: An Overview of the CARES Act

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 […]

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COVID-19 Relief Impact: Employment Issues & Labor Law Considerations

On-Demand Webinar: COVID-19 Relief Impact: Employment Issues & Labor Law Considerations

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 […]

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News

09.11.20 Payroll Tax Deferral

Payroll Tax Deferral

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, […]

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HEALS Act vs. HEROES Act: Our Comparison

HEALS Act vs. HEROES Act: Our Comparison

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 […]

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Single Audit Reporting Package Deadline Rescission and Other Updates from OMB

Single Audit Reporting Package Deadline Rescission and Other Updates from OMB

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 […]

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Should you include foreign affiliate employees in your employee count?

Should you include foreign affiliate employees in your employee count for the PPP?

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 […]

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Can my not-for-profit use donor-restricted funds for operating expenses during this COVID-19 crisis_

Use of Donor-Restricted Funds in a Crisis

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 […]

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5 Things Manufacturers Can Do To Remain Profitable During an Economic Downturn

5 Things Manufacturers Can Do To Remain Profitable During an Economic Downturn

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 […]

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Covid-19 Relief_ Information for 401(k) and Retirement Plans

COVID-19 Relief: Information for 401(k) and Retirement Plans

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 […]

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The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act

The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act

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 […]

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Managing Cash Flow Through Uncertainty

Managing Cash Flow Through Uncertainty

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 […]

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CARES Act Charitable Deduction Expansion: Opportunity for Attracting New Donors

CARES Act Charitable Deduction Expansion: Opportunity for Attracting New Donors

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 […]

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CARES Act Advanced Relief Payments FAQs

CARES Act Stimulus Payments FAQs

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. […]

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Transfer Pricing and Economic Uncertainty

Transfer Pricing and Economic Uncertainty

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 […]

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Building Long-Term Viability in the Construction Industry: Questions You Should be Asking Now

Building Long-Term Viability in the Construction Industry: Questions You Should be Asking Now

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 […]

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Qualified Improvement Property Guidance (Revenue Procedure 2020-25)

Qualified Improvement Property Guidance (Revenue Procedure 2020-25)

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 […]

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Additional Guidance on Deferral of Employment Tax Deposits and Payments under CARES Act

Additional Guidance on Deferral of Employment Tax Deposits and Payments under CARES Act

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 […]

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Coronavirus Relief Bill_ Supplemental Unemployment Insurance from the Federal Government -1

Coronavirus Relief Bill: Supplemental Unemployment Insurance from the Federal Government

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 […]

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COVID-19 Response Updates from U.S. Treasury, Federal Reserve Board, & IRS

COVID-19 Response Updates from U.S. Treasury, Federal Reserve Board, & IRS

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 […]

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Disaster Relief Payments to Employees Under IRC 139

Disaster Relief Payments to Employees Under Internal Revenue Code Section 139 (IRC 139)

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 […]

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Tax Filing Deadline Reminder to Non-Profit Organizations

Tax Filing Deadlines Have Been Extended for Not-For-Profit Organizations

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 […]

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Kentucky & Louisville Income Tax Return Filing Date Extended to July 15

Kentucky Income Tax Return Filing Date Extended to July 15

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 […]

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Financial Planning for Nonprofits in Uncertain Times

Financial Planning for Nonprofits in Uncertain Times

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 […]

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House Passes Bill to Provide Coronavirus Relief; Senate Expected to Act this Week

Coronavirus Relief Bill: Families First Coronavirus Response Act (FFCRA)

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 […]

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COVID-19 Update_ General Considerations for Clients

COVID-19 Update: General Considerations for Clients

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 […]

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tax extension

COVID-19 Relief: Tax Filing Deadline & Payment Extension

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 […]

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COVID-19 FAQs

COVID-19 Relief & Operations FAQs

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 […]

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DWD to host statewide unemployment insurance webinars for Hoosiers impacted by COVID-19

Indiana DWD Statewide Unemployment Insurance Webinars Announced for Those Impacted by COVID-19

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 […]

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Update: Distilleries Approved to Produce Hand Sanitizer

Update: Distilleries Approved to Produce Hand Sanitizer

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 […]

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Healthcare Industry News & Response

CMS ends staffing waiver

CMS has ended the waiver of Staffing Data

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 […]

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HHS Announces $4.9 Billion Distribution to Nursing Facilities Impacted by COVID-19

HHS Announces $4.9 Billion Distribution to Nursing Facilities Impacted by COVID-19

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 […]

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CMS Guideline for Safely Reopening Nursing Homes

CMS Guideline for Safely Reopening Nursing Homes

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 […]

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Hospital Outpatient PT/OT/ST Services Can Now Be Provided via Telehealth

Hospital Outpatient PT/OT/ST Services Can Now Be Provided via Telehealth

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 […]

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Frequently Asked Questions for RHCs and FQHCs During COVID-19

Frequently Asked Questions for RHCs and FQHCs During COVID-19

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 […]

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COVID-19 and the Impact on 340B

COVID-19 and the Impact on 340B

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, […]

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CMS Releases Telehealth Guidance for RHCs and FQHCs

Telehealth Guidance for RHCs and FQHCs

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 […]

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OMB COVID-19 Memorandum Summary

OMB COVID-19 Memorandum Summary (M-20-17)

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 […]

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COVID-19 - Important Coding Updates

COVID-19: Important Coding Updates

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 […]

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Occupational Mix Survey Deadline Extended

Occupational Mix Survey Deadline Extended

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 […]

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Outpatient Therapy Options During COVID-19

Outpatient Therapy Options During COVID-19

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 […]

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Medicare Cost Report Filing Extension

Medicare Cost Report Filing Extension

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 […]

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Telehealth waiver

Expansion of Telehealth with 1135 Waiver

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, […]

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Delayed Implementation of Required 340B Modifiers_ KY Department of Medicaid Services

Delayed Implementation of Required 340B Modifiers: KY Department of Medicaid Services

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 […]

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CMS Announces Relief in Response to COVID-19

CMS Announces Relief from the Quality Reporting Program in Response to COVID-19

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) […]

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CMS_ COVID-19 Emergency Declaration for SNFs

CMS: COVID-19 Emergency Declaration for SNFs

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, […]

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Healthcare Industry External Resources

Blue & Co. Firm Updates

2020 Best Places to Work Kentucky

Blue & Co., LLC Named as One of the 2020 Best Places to Work in Kentucky

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 […]

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Blue & Co. Still Operating Under Ohio Stay at Home Order

Blue & Co. Still Operating Under Indiana & Ohio Stay at Home Orders

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 […]

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Instructions for Uploading Documents Securely

Instructions for Uploading Documents Securely

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 […]

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COVID-19 Update 3_16

Coronavirus Update: Blue & Co. Operations

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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External Resources