From SESCO: DOL Releases Revised FFCRA Regulations

npaofficeadmin Members Only

Reprinted with Permission from SESCO: The Families First Coronavirus Response Act (FFCRA) was enacted on March 18, 2020. The sweeping federal legislation provides emergency paid sick leave (EPSL) and expanded paid Family and Medical Leave (EFML) to certain covered workers impacted by the COVID-19 pandemic. On April 1, 2020, the U.S. Department of Labor (DOL) issued regulations implementing the FFCRA …

NPA Confirms Bureau of Alcohol, Tobacco, Firearms and Explosives (BATFE) Contract with LeadsOnline

npaofficeadmin Legislative Updates & Alerts, NPA News

August 4, 2020 More than two years ago the NPA’s Government Relations Committee heard members’ concerns of receiving trace requests on firearms that were pawned by or purchased from their consumer customers. Previously, the BATFE trace requests to FFLs were only on firearms purchased from distributors or manufacturers. We heard you and shared your concerns. The GRC asked questions of …

Preparing Paycheck Protection Program Loan “Forgiveness” Applications

npaofficeadmin Government Relations, NPA News

On May 15, 2020, the Small Business Administration (SBA) published the application form that recipients of Paycheck Protection Program (PPP) loans must use to apply for full or partial forgiveness of their PPP loans. The full application package (11 pages including instructions), is on SBA Form 3508 dated 05/20. You can download a pdf HERE What does the loan forgiveness …

IRS Guidance Notice 2020-32 Detailing Limits on Deducting Business Expenses Covered by Loans Eligible for Forgiveness under the CARES Act’s Paycheck Protection Program

npaofficeadmin Coronavirus Alerts, Legislative Updates & Alerts, NPA News

Your NPA Team GRC follows developments related to the CARES Act on a daily basis. Late on May 1, 2020 we focused on IRS guidance covering the deduction of business expenses for payroll, rent, and the like if the employer received actual loan forgiveness under the CARES Act and its authorization of the Paycheck Protection Program (PPP) loan program. Some …

Information for Pawnbrokers about Eligibility for Payroll Protection Program Loans Under the CARES Act of 2020

npaofficeadmin Coronavirus Alerts, Legislative Updates & Alerts, NPA News

April 13, 2020 Pawnbrokers have reported experiencing delays in receiving loan proceeds from their Payroll Protection Program (“PPP”) loan applications due to bankers’ uncertainty about eligibility. Others have been turned away by banks and told they could not apply for PPP loans because “lenders are not eligible.” Below is NPA’s position that pawnbrokers are eligible and why. Pawnbrokers were eligible for …

Revised Report on the CARES Act Paycheck Protection Program (PPP) Loans – Use This Document to Guide Your Borrower Application

npaofficeadmin Coronavirus Alerts, Legislative Updates & Alerts, NPA News

April 3, 2020 – This Update Replaces Those Dated on March 29 and 31, 2020 NPA’s Team GRC is keeping watch on new Guidance and a new Interim Final Rule for the Paycheck Protection Loan Program. The SBA issued a new application form for the PPP Loans late on April 2, 2020, which replaces the previous version. As the information …

New Information on the “Paycheck Protection Program” Loans Authorized by the CARES Act and Possible Eligibility for Pawnbrokers

npaofficeadmin Coronavirus Alerts, Legislative Updates & Alerts, NPA News

March 31, 2020 The NPA’s Team GRC received additional information today about the CARES Act that the SBA may make the new Paycheck Protection Program (“PPP”) loans available to pawnbrokers. We are only providing new information we have and it is subject to SBA guidance, which we are told not to expect any earlier than Friday, April 3rd. This information …

First Report on March 27, 2020 CARES Act Loan Programs and Tax Benefits Available to Pawnbrokers

npaofficeadmin Coronavirus Alerts, Legislative Updates & Alerts, NPA News

March 29, 2020 NPA’s Team GRC obtained additional guidance on tax and SBA issues from Venable, a major Washington, D.C. law firm. We will provide additional COVID-19 updates as more information becomes available.  What New Relief Is AVAILABLE NOW to Pawnbrokers? SBA Economic Injury Disaster (EIDL) Program loans available only to businesses with 500 or fewer employees in federally declared …

Families First Coronavirus Response Act (“FFCRA”) Paid Sick Leave Changes to the FMLA and FLSA: Deadline to Notify Your Employees Using the Poster Published by the Department of Labor Is April 1, 2020

npaofficeadmin Coronavirus Alerts, Legislative Updates & Alerts, NPA News

April 1, 2020 is the deadline for employers with fewer than 500 employees to display the poster in a conspicuous place in each of your stores or by providing it via email to every current employee who is teleworking. Do not fail to provide this notice to employees by April 1, 2020. The poster is entitled “Employee Rights: Paid Sick …