The COVID-19 Relief Pennsylvania Statewide Small Business Assistance program will provide grants ranging from $5,000 to $50,000 to small businesses that have been economically impacted by COVID-19. This is not a first-come, first-served program. There will be multiple rounds of application windows.
Dental providers who participate in Medicaid or Children’s Health Insurance Programs (CHIP) can apply for funding from the U.S. Department of Health and Human Services (HHS) on the CARES Provider Relief Fund Payment Portal.
The Federal Reserve announced today, that the Main Street Lending Program is open for Lender registration. Eligible Lenders can register using the program's portal.
The SBRSF is awarding grants that do not have to be paid back. The funding was received as part of the $150 billion CARES Act Coronavirus Relief Fund which directed federal dollars to states and eligible units of local government. The total SBRSF size is $25 million, with distribution being broken into three phases. Phase 1 is capped at $10 million. Below are the key facts about SBRSF.
On Monday, June 1, 2020, Trout CPA's Summer Internship Program began. Amid the COVID-19 pandemic, this year's Program is unique to past years. Accounting Interns will be doing some training at the Lancaster office, but most of their internship experience will be virtual. This year's program has also been divided into two shorter sessions. The first session will have seven accounting interns from June 1st to June 26th and the second session will have seven interns and will run from July 6th to July 31st.
According to The PA Department of Labor & Industry's anti-fraud division, they have "discovered recent attempts in which scammers are utilizing personal information to apply for Pandemic Unemployment Assistance (PUA) benefits. No L&I systems or data have been compromised. The personal information was obtained from sources outside L&I.
The Department of Revenue today announced the deadline for taxpayers to file their 2019 Pennsylvania personal income tax returns is extended to July 15, 2020.
The Federal tax filing deadline is extended to July 15, 2020. Secretary Steven Munchin tweeted, “At Donald Trump’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 and penalties.” Please note - the tax deadline for Pennsylvania and most other states and PA Counties is still April 15, 2020. We expect to hear from the States and Counties in the next few weeks about whether or not they will follow the IRS extension. We are monitoring this closely and will communicate any changes.
Per Governor Wolf’s order, all non-life sustaining businesses must close at 8:00 pm this evening, March 19, 2020. You can read the Governor’s order here.
The Families First Coronavirus Response Act (H.R. 6201), became law on March 18, 2020. The Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands family and medical leave, enhances unemployment insurance, expands food security initiatives, and increases federal Medicaid funding.
Part III - Administrative, Procedural, and Miscellaneous
IRS Notice 2020-17
Trout CPA professionals, Brian Wassell, CPA, CM&AA, Tim Miller, CPA, Barb Sanborn, Nikelle Druck, and Erin McGaw, attended the 34th Annual Greater Philadelphia Valley Forge Dental Conference. The event was held on March 4-6, 2020, at the Valley Forge Casino Resort & Convention Center in King of Prussia, Pennsylvania.
Trout CPA is pleased to announce Partner Jason Herr, CPA has earned the professional designation of Certified Construction Industry Financial Professional (CCIFP) from the Institute of Certified Construction Industry Financial Professionals. This prestigious certification indicates that Jason has completed the necessary education and experience requirements and has passed the written CCIFP examination.
Trout CPA (formerly Trout, Ebersole & Groff, LLP) announced the acquisition of Greenawalt & Company, P.C., a highly respected accounting firm with offices in Mechanicsburg and Carlisle, PA. The acquisition is effective January 2020. The firm adds three partners and nine professional staff.
Trout CPA is pleased to announce Partner Karen Shenk, CPA, CVA, CFE has earned the professional designation of Certified Construction Industry Financial Professional (CCIFP) from the Institute of Certified Construction Industry Financial Professionals. This prestigious certification indicates that Karen has completed the necessary education and experience requirements and has passed the written CCIFP examination.
Krista A. Showers, CPA, MBA, CEBS, has been appointed to the Board of the Central Pennsylvania Chapter of the International Society of Certified Employee Benefit Specialists (CEBS). Krista has been a Partner with Trout CPA for over 18 years.
Krista Showers, CPA, CEBS, partner at Trout CPA, served as preliminary judge of the Pennsylvania Future Business Leaders of America (FBLA) Partnership with Business event for the 2020 State Leadership Conference. As such, she was one of three judges that reviewed all financial business plans.
Trout, Ebersole & Groff, LLP is pleased to announce that Clair Eby, CPA has obtained his Certified Valuation Analyst (CVA) designation. The CVA is a business valuation certification granted by the National Association of Certified Valuators and Analysts (NACVA). To earn the certificate, Clair had to attend training classes, pass an extensive examination, and have a sanitized report he worked on reviewed by graders at NACVA.
Trout, Ebersole & Groff, LLP is excited to announce that our firm ranked #16 in CPBJ’s 2019 Best Places to Work in PA for medium sized companies.
Trout, Ebersole & Groff, LLP is pleased to announce the hire of Nikelle Druck. Nikelle will be the firm's first Director of Client Success. In her role, she will assist clients and prospective clients with data analytics and outsourced accounting solutions.
Trout, Ebersole & Groff, LLP Partner, Nicole Cradic, CPA, was one of 40 professionals who were honored by Central Penn Business Journal with their Forty Under 40 award. This annual award recognizes up-and-coming leaders in Central Pennsylvania. Earlier this year, Nicole was also honored by PICPA with their Young Leader Award.
Trout, Ebersole & Groff, LLP Partner, Nicole Cradic, CPA, was one of 39 certified public accountants in Pennsylvania who received the 2019 Young Leader: PICPA Member to Watch award. The award recognizes PICPA members under the age of 40 who demonstrate an extraordinary commitment to the accounting profession through PICPA or community service.
Senior Accountant, Corey Eshelman, CPA, and Business Valuation Manager, Doug Knapp, ASA, attended The ESOP Association's Multi-State Conference on September 18-19, 2019. The conference took place at the Kalahari Resorts & Convention Center, located in Pocono Manor, Pennsylvania. This year's conference included presentations on topics relevant to ESOPs, including human resources, mergers & acquisitions, valuations, leadership, company culture, and cybersecurity.
Trout, Ebersole & Groff, LLP is excited and humbled to announce that the readers of LNP have voted our firm #2 for the following categories:
Trout, Ebersole & Groff, LLP (TEG) is pleased to announce the hire of Emalie Shaffer, Kristen Smoluk, Benjamin Webb, Anne Horting, Connor Bell, and Haley Goodling. Kristen will begin her accounting career at our Capital Region office and the other professionals will be working out of our Lancaster office.
Trout, Ebersole & Groff, LLP Partner, Brian Wassell, CPA, CM&AA, discusses some of the common struggles businesses deal with in Central Penn Business Journal article “Creative Thinking Grows a Business in Any Season.” When asked about a solution for companies who have a difficult time with collections, Brian said, “We advise businesses to introduce a recurring revenue model when possible.”