Federal Funding Can Bring Additional Surprises
Ohio Restaurant & Hospitality Alliance
Last Update hace 3 años
The restaurant industry has been hit hard by the COVID-19 pandemic resulting in capacity limitations, business closures, regulatory mandates and restrictions and significant labor constraints. These negative pandemic effects have been partially mitigated through many avenues of federal funding including, but not limited to, the Paycheck Protection Program (PPP), Restaurant Revitalization Fund, Economic Injury Disaster Loans (EIDL) and Employer Retention Tax Credits (ERC).
Traditionally federal funding was likened to a nonprofit organization and something that most likely was never considered before by restaurants. But what must be considered now, is whether these sources of federal funding could result in an organization being subject to a Single Audit.