PPP deadline extension into law
On March 25, President Biden signed the PPP Extension Act of 2021, extending the Paycheck Protection Program application filing deadline from March 31 to May 31, thus providing potential PPP borrowers additional time to submit their applications. The law doesn’t provide the PPP with any additional funding. However, $7.25 billion in additional funding was recently provided in the American Rescue Plan Act. The law also gives the Small Business Administration (SBA) an additional 30 days after the extended application deadline – through June 30 – to complete its processing of applications.
American Rescue Plan Act
On March 11, President Joe Biden signed the American Rescue Plan Act, a $1.9 trillion coronavirus rescue package designed to facilitate the United States’ recovery from the devastating economic and health effects of the COVID-19 pandemic. Here is some information from Brown Edwards and Suttle & Stalnaker about how the provisions of the act may benefit you and your church.
Board of Pensions Tax Resources
Even though pushed back a month to May 15, personal income tax filing deadlines will still be upon us before we know it, so don’t wait to your copies of the tax guides available from the Board of Pensions: Tax Guide for Ministers for 2020 Returns and 2021 Federal Reporting Requirements for Churches. Both are now available on the BoP’s Benefits Connect website and may be printed or saved in electronic format. Both of these resources are full of useful information, and I highly recommend getting a copy. If you need assistance finding, downloading, or printing the guides, call the Board of Pensions at 800-773-7752 (800-PRESPLAN) or get in touch with me and I can forward either guide to you in PDF format.
Board of Pensions News for Employers
From the most recent Board of Pensions employer’s newsletter: New Highmark website for members! Managing medical benefits through the Board is about to become simpler with highmark.com/pcusa. The Board has been working with Highmark Blue Cross Blue Shield to develop this new site for all medical benefits participants.
Money-Saving Maintenance Tips for Church Shutdowns
Church Law & Tax has a good article, “Church Facility Care During Shutdowns and Limited Use,” on ways to save some money during the time we are limiting use of our church buildings.
Tips for a Reshaped Reality
While hope is on the horizon, there is still much uncertainty about how this year will unfold. Church Mutual Insurance has some resources to help us “find comfort by focusing on the important things you can control right now, including ways to safely gather, stay connected, and care for yourself.”
2021 Special Offerings Calendar
Here is the calendar for the four churchwide Special Offerings of the Presbyterian Church (U.S.A.):
ONE GREAT HOUR OF SHARING: Feb. 17 to April 4
PENTECOST: April 5 to May 23
PEACE & GLOBAL WITNESS: Sept. 5 to Oct. 3
CHRISTMAS JOY: Nov. 28 to Dec. 19