The Coronavirus Aid, Relief, and Economic Security (CARES)
Act and the Families First Coronavirus Response Act both provide potential
relief for nonprofit associations.
We are still awaiting important details on the many
provisions of the Acts, but we wanted to provide a summary of some of the programs
which will be of interest to our clients. We will update our materials as
additional information becomes available.
We have provided sections below specific to your client type. Please check back to this page periodically for updates and further information. Relief available to clients from these ActsLabor Unions Eligible for:
Employee Retention Tax Credit
EIDL Loan or Advance
Today, the Office of Labor-Management Standards (OLMS) published a final rule establishing a Form T–1 Trust Annual Report which requires annual reporting by Form LM-2 filing labor organizations on financial information pertinent to “trusts in which a labor organization is interested”.
Office of Labor-Management Standards (OLMS) today published a Notice of
Proposed Rulemaking (NPRM) to establish a Form T–1 to require annual reporting
on financial information pertinent to “trusts in which a labor organization is