Financial Management

The Employee Retention Credit is a fully refundable tax credit for employers equal to 50 percent of qualified wages (including allocable qualified health plan expenses) that eligible employers pay their employees. This Employee Retention Credit applies to qualified wages paid after March 12, 2020, and before January 1, 2021. The maximum amount of qualified wages taken into…

CMS Quality Payment Program: The 2019 Merit-based Incentive Payment System (MIPS) data submission deadline will be extended by 30 days to April 30, 2020. In general, if you have already submitted MIPS data or if you submit MIPS data by April 30, 2020, you will be scored and receive a MIPS payment adjustment based on…

What is the Families First Coronavirus Response Act (FFCRA)? The Families First Coronavirus Response Act (FFCRA) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The FFCRA’s paid leave provisions are effective on April 1, 2020, and apply to leave taken between April…

Second Round of PPP Funding Available https://vimeo.com/495855849 Recorded: Tuesday, December 29 at 12:00 PM EST With the passage of the new COVID economic relief package, you are most likely asking yourself, “What does this mean for my practice.” Fuel’s team of experts is here to assist you. We’ve produced a short video covering the key…

Accelerated and Advanced Payment Program – CMS The Centers for Medicare & Medicaid Services (CMS) Accelerated and Advance Medicare payments provide emergency funding and addresses cash flow issues based on historical payments when there is disruption in claims submission and/or claims processing. CMS is expanding the program for all Medicare providers throughout the country during the public…

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide…

What tax credits does the FFCRA provide? The Families First Coronavirus Response Act (FFCRA) Tax Credit provides businesses with tax credits to cover certain costs of providing employees with required paid sick leave and expanded family and medical leave for reasons related to COVID-19, from April 1, 2020, through December 31, 2020. When can employers…