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Provider Relief Fund Phase 4 Applications Now Open – September 29, 2021

October 1, 2021

The application portal is now open for Provider Relief Fund (“PRF”) Phase 4 General Distributions with $17 billion of funds available. Phase 4 General Distributions will be comprised of two payments: A Base Payment, which will be based on changes in operating revenues and expenses from July 1, 2020 through Mar. 31, 2021, with smaller providers reimbursed at higher percentages; and Bonus Payments, which will be based on the amount and type of Medicare, Medicaid, and Children’s Health Insurance Program (CHIP) services provided. The application period will close on October 26, 2021 at 11:59pm. For more information, visit Provider Relief Fund Phase […]

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The Global Year in Breach 2021: What Happened in 2020, Why It Happened and What to Do Next

May 17, 2021

In conjunction with our strategic relationship with Total Technology Solutions (“Total”), Gettry Marcus has been proactive in educating employees on the importance of preventing cybersecurity threats to our firm. Total examines the 2020 cybersecurity story and provides insights into how global events can rapidly transform the cybersecurity landscape. There were 5 key trends that transformed 2020 and will impact 2021.  5 Trends That Transformed 2020 The exponential increase in phishing Third-party and supply chain data breaches Cybersecurity weaknesses triggered by the remote workforce shift Ransomware everywhere The increase in dark web danger If you want to learn more about these […]

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The Changing Landscape and Evolution of the Forensic Accounting Profession: Digital Analysis Technology

September 30, 2020

The following excerpt is from an article that was published in the August/September 2020 issue of the Financial Valuation and Litigation Expert.  Previously in this series discussed the evolution of the forensic accounting profession and two of the three investigative techniques modern-day forensic accounts should be well versed in. The final part of this series will discuss the importance of digital analysis technology. Due to the great and consistent growth in detail-oriented technology, forensic accountants are offered a wide variety of computer-based techniques to help them look deeper. The patterns and deviations in data that may not be detected by […]

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The Changing Landscape and Evolution of the Forensic Accounting Profession: Communication and Interpersonal Skills

The following excerpt is from an article that was published in the August/September 2020 issue of the Financial Valuation and Litigation Expert. The preceding portion of this series discussed open-source intelligence and the information that it provides to forensic accountants. Another investigative technique that should be utilized by forensic accountants is communication and interpersonal skills. This goes beyond the ordinary skill of noticing when someone is nervous or uncomfortable. It means analyzing verbal, physical, and even written behavior as we attempt to become a “human lie detector.” In order to expand the web of available information, forensic accountants must be […]

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The Changing Landscape and Evolution of the Forensic Accounting Profession: Open-Source Intelligence

The following excerpt is from an article that was published in the August/September 2020 issue of the Financial Valuation and Litigation Excerpt. The introduction to this series discussed the evolution of the forensic accounting profession and explained that there are three investigative techniques in which the modern-day forensic accountant should be well versed. The first investigative technique, which was highlighted in this article, is open-source intelligence. “Open-source intelligence” is a term used for data and information that is available to the general public. Thus, “open-source” refers to accessible sources, as opposed to covert or hidden sources. Publicly Available Information  Among a […]

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The Changing Landscape and Evolution of the Forensic Accounting Profession: Introduction

The following excerpt is from an article that was published in the August/September 2020 issue of the Financial Valuation and Litigation Excerpt. For many attorneys, retaining the services of a forensic accountant has become an integral part of resolving their clients’ legal battles, either before or during litigation. With the modern-day complexities of a perpetually changing environment, coupled with the growing demand for business-related investigations, forensic accounting professionals are increasingly asked to investigate and uncover deception in financial-related issues. As a result of the expanded range of knowledge and skills needed to perform investigative services, forensic accountants—the past object of […]

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SBA Reopens Application Process for Economic Injury Disaster Loan

June 17, 2020

At Gettry Marcus CPA, P.C. we continue to stay apprised as to the lending programs available to business owners to help finance operations during the COVID-19 pandemic. On June 15, 2020, the SBA announced that the Economic Injury Disaster Loan program (“EIDL”) was once again accepting applications from potential borrowers. The SBA has indicated that all U.S. states and territories are now eligible to participate in the EIDL program. Salient provisions of the EIDL program are as follows: Current borrowing limit is $150,000 Fixed interest rates of 3.75% for small businesses, 2.75% for non-profit businesses Term lengths ranging from 10 to 30 […]

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Business Interruption Insurance Update

May 26, 2020

Now that we are over two months into the economic shutdown it has become abundantly clear that insurance carriers are taking the position that business interruption losses arising out of the COVID-19 pandemic will likely not be covered.  This is evidenced not only by actual denial letters mailed out to policyholders, but also in interviews and press releases by various insurance carriers.   Policyholders have even indicated that they have received preemptive denial letters from their insurance carriers even prior to submitting a claim. These denials are occurring in instances where the policy in question may, or may not, contain […]

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FASB’s Quick Reaction to Pandemic

May 21, 2020

Yesterday, the Financial Accounting Standards Board (“FASB”) met to cover several matters that arose over the viral pandemic that has overrun the economy. Specifically, FASB: voted to defer the effective date to adopt the Revenue Recognition Standards (Topic 606) for non-public entities for another year. Topic 606  will be now be effective for the annual reporting periods beginning after December 15, 2019 (or, 2020 for calendar year-ends). Unfortunately, this decision was arrived at too late for the non-public entities that have already issued their financial statements for 2019 but at least that project has been completed for them. affirmed to delay […]

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U.S. Treasury Releases Paycheck Protection Program Loan Forgiveness Application

May 17, 2020

At Gettry Marcus CPA, P.C. we continue to stay up to date on the recent developments regarding the Paycheck Protection Program (“PPP”), as provided by the U.S. Treasury. On Friday, May 15, 2020, the U.S. Treasury released the PPP Loan Forgiveness Application (“Application”). Please see the below link to review the Application:  https://home.treasury.gov/system/files/136/3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf With the complexities of the U.S. Treasury’s Application and overall forgiveness protocols and procedures, the Gettry Marcus Financial Assistance Services Group is here to help. Please contact your Gettry Marcus advisor for assistance with PPP loan forgiveness or to discuss developments included in the Application such as the U.S. […]

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