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HHS Provider Relief Fund Online Reporting Portal Now Open

July 29, 2021

History, Compliance and Reporting Guidelines History of HHS Provider Relief Fund As part of the CARES Act, the federal government allocated $175 billion in payments to be distributed, through the Provider Relief Fund (“PRF”), to hospitals and healthcare providers on the front lines of the coronavirus response.  Qualified providers of healthcare, services, and support were eligible to receive PRF payments for healthcare-related expenses or lost revenue due to COVID-19.  If providers comply with the terms and conditions of PRF pursuant to “post-payment reporting requirements”, then PRF payments do not need to be repaid to the federal government. With respect to […]

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WEBINAR: Tax Aspects of Selling a Business – Pass-through Entities

July 20, 2021

Gettry Marcus CPA, P.C. presents Tax Aspects of Selling a Business – Pass-through Entities Wednesday, August 25, 2021 | 12:00 p.m. – 1:00 p.m. Join Gettry Marcus CPA, P.C. for our upcoming discussion exploring the tax consequences and strategies for structuring sales of a business, or interest in a business operated as a partnership, LLC, or S corporation. This discussion will offer information on matters such as: Asset vs. Entity Sales  Asset Category Allocations  Options for Buying Out a Partner or Shareholder  The Transaction Process from Negotiations to Closing PROGRAM PANELISTS Dean L. Surkin, JD, LLM, is a tax director […]

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SBA Announces Guidelines on Restaurant Revitalization Fund (“RRF”)

April 21, 2021

At Gettry Marcus CPA, P.C. we continue to stay up to date on the recent developments regarding the relief efforts put forth by Congress with respect to the COVID-19 pandemic. This past March, the SBA announced a new relief fund called the Restaurant Revitalization Fund program (“RRF” or the “Program”).  The RRF is a $28.6 billion dollar grant that provides funding for hard hit restaurants and bars. This fund is a component of the American Rescue Plan Act, which is a $1.9 trillion stimulus package signed into law by President Biden. This past Saturday, April 17, 2021 the SBA published a Program […]

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PPP Loan Application Deadline Extended to May 31, 2021

March 31, 2021

At Gettry Marcus CPA, P.C. we continue to stay apprised as to the status of the Paycheck Protection Program (“PPP”) loan updates as provided by the U.S. Treasury. On March 30, 2021, President Biden signed the PPP Extension Act, which extends the application process for first draw and second draw PPP loans through May 31, 2021.  Originally the deadline to apply for a PPP loan was March 31, 2021.  Indications from the federal government are that an estimated $88 billion dollars in PPP funds remain available to qualifying businesses.   If you would like additional information, please contact Gabe Shurek or […]

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SBA To Enact Restaurant Revitalization Fund (“RRF”)

March 24, 2021

At Gettry Marcus CPA, P.C. we continue to stay up to date on the recent developments regarding the relief efforts put forth by Congress with respect to the COVID-19 pandemic. Recently, the SBA announced a new relief fund called the Restaurant Revitalization Fund (“RRF”), which will be available for certain business entities in the near future. The RRF is a $28.6 billion dollar grant that provides funding for hard hit restaurants and bars. This fund is a component of the American Rescue Plan Act, which is a $1.9 trillion stimulus package signed into law by President Biden. Summary of RRF […]

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Gettry Marcus’ Business Valuation & Litigation Services Group Restructures

March 9, 2021

Gettry Marcus CPA, P.C. recently announced that, partners, Andrew P. Ross and Gabe H. Shurek will assume co-leadership of the Business Valuation & Litigation Services Group.  Mark S. Warshavsky, former group leader, says “I am proud to pass the baton to Andy and Gabe, who demonstrated they have the expertise and vision to take the group we have built to new heights.” The Business Valuation & Litigation Services Group has been retained by law firms, businesses, insurance carriers, receivers, trustees, financial institutions, and individuals to provide services in diverse areas of business valuation and forensic accounting, including complex litigation assignments. […]

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Report of Taxable 2020 Unemployment Insurance Benefits for New Yorkers

March 1, 2021

As a result of the pandemic and the economic crisis, many New Yorkers received unemployment benefits in 2020. Under current law, these benefits are fully taxable for federal and New York State income tax purposes. Form 1099-G provides the total amount of money that recipients were paid in benefits from NYS DOL in 2020, as well as any adjustments or tax withholding made to their benefits. New York State will not automatically send Form 1099-G to taxpayers. There are two ways for you to obtain it: Go to your online account at labor.ny.gov/signin to download,  or If you do not have […]

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WEBINAR: Buying or Selling a Business in a COVID Environment

February 10, 2021

Gettry Marcus CPA, P.C. presents Buying or Selling a Business in a COIVD Environment Wednesday, February 24, 2021 | 9:00 a.m. – 10:00 a.m. Join Gettry Marcus, CPA, P.C., Lowenstein Sandler, and Carl Marks Advisors for our upcoming discussion offering financial, legal, and tax insights related to buying or selling a business in today’s ever-changing pandemic environment. This discussion will offer information on matters such as: Finding a Buyer or Seller Private Equity vs. Strategic Projections & Forecasts Terms & Negotiation Due Diligence Indemnification Purchase Price Allocations Tax Structuring PROGRAM PANELISTS Vincent Paolucci, CPA, MST, Partner at Gettry Marcus, CPA, […]

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HHS Delays Provider Relief Fund Reporting Deadline and Issues Updated Post-Payment Reporting Requirements

January 21, 2021

Delay in First Reporting Deadline On January 15, 2021, HHS opened their portal for Provider Relief Fund (“PRF”) reporting registration only and extended the first reporting deadline of February 15th. While HHS has not announced the new reporting deadline, we advise all recipients of PRF funds to register on the Reporting Portal in order to receive e-mail updates from HHS. These updates will alert you when you can begin the online reporting process and also the updated deadline to file for the first reporting period. Updated Post-Payment Reporting Requirements On January 15th, HHS also announced new HHS Guidance for post-payment reporting. […]

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WEBINAR: Paycheck Protection Program as Amended by the Economic Aid Act

January 11, 2021

Gettry Marcus CPA, P.C. presents Paycheck Protection Program as Amended by the Economic Aid ActIncluding Guidance and Planning for PPP 2, the Employee Retention Credit, and Updates on PPP Loan Forgiveness Friday, January 15, 2021 | 10:00 a.m. – 11:00 a.m. Join Gettry Marcus, CPA, P.C. and Campolo, Middleton & McCormick, LLP for our continuing webinar series on the recently passed Economic Aid Act (“EAA”), which has amended the Paycheck Protection Program (“PPP”) and now includes an Employee Retention Credit (“ERC”). The EAA has provided updated guidance regarding the first round of PPP loans (“PPP 1”) and announced provisions with respect to […]

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