ACRAsphere Home
ACRA Homepage
On October 8, the Small Business Administration (SBA) and Department of the Treasury announced new guidance that simplifies the forgiveness process for businesses that received small loans as a part of the Paycheck Protection Program (PPP). Now, businesses that received $50,000 or less are able to self-certify that they used the money appropriately and receive complete forgiveness.
This guidance is especially important for small CRM firms that may have received these loans. Borrowers still need to provide documentation such as a payroll provider report, but the new form is much simpler. Additionally, the requirement for showing that the borrower did not reduce head count or salaries has also been removed. Previously such a reduction would have resulted in a reduction of loan forgiveness.
There continue to be questions concerning deducting expenses used with PPP funds. From Forbes:
The main outstanding issue is the deductibility of expenses used with PPP funds. While the original CARES Act creating the PPP program made clear that once the loan is forgiven and becomes a grant, the funds are NOT income and not taxable as such. However, the Internal Revenue Service then issued guidance (Notice 2020-32) on April 30, 2020, stating that expenses normally deductible for a business CANNOT be taken if used with PPP money. Again, every lender and business advocacy group has been lobbying against this and have been hoping to see a fix in the new stimulus bill. The main argument against this rule was simply one of fairness: if the intent was a grant, why create a new tax burden on these businesses the government was trying to bail out? The IRS rationale, however, was the businesses should not be allowed to “double dip” by both getting tax-free government money and taking these deductions. Again, the IRS is alone in that assessment. More important, the rule created a grey area many businesses are now facing. Prior to forgiveness, PPP is a loan and remains one until forgiveness is received. As lenders have 60 days to review forgiveness applications and the SBA 90 days, most borrowers won’t receive a forgiveness decision until Q1 or Q2 of 2021, if then, with the likely backlogs to come. So, the question becomes, do borrowers take the deductions now and amend their tax returns upon full or partial forgiveness, or not take the deduction and receive a refund if all or part of their PPP loan is not forgiven? And, what of any potential penalties and interest?
The main outstanding issue is the deductibility of expenses used with PPP funds. While the original CARES Act creating the PPP program made clear that once the loan is forgiven and becomes a grant, the funds are NOT income and not taxable as such. However, the Internal Revenue Service then issued guidance (Notice 2020-32) on April 30, 2020, stating that expenses normally deductible for a business CANNOT be taken if used with PPP money. Again, every lender and business advocacy group has been lobbying against this and have been hoping to see a fix in the new stimulus bill.
The main argument against this rule was simply one of fairness: if the intent was a grant, why create a new tax burden on these businesses the government was trying to bail out? The IRS rationale, however, was the businesses should not be allowed to “double dip” by both getting tax-free government money and taking these deductions. Again, the IRS is alone in that assessment.
More important, the rule created a grey area many businesses are now facing. Prior to forgiveness, PPP is a loan and remains one until forgiveness is received. As lenders have 60 days to review forgiveness applications and the SBA 90 days, most borrowers won’t receive a forgiveness decision until Q1 or Q2 of 2021, if then, with the likely backlogs to come. So, the question becomes, do borrowers take the deductions now and amend their tax returns upon full or partial forgiveness, or not take the deduction and receive a refund if all or part of their PPP loan is not forgiven? And, what of any potential penalties and interest?
Check out the full Forbes article here. You can view the full interim rule here, and stay tuned to the ACRAsphere for additional information on CRM-specific pandemic news.
ACRA member Wade Catts of South River Heritage Consulting will be presenting at 8th Dennis Farm Annual Symposium on Friday, October 16 at 1:00 pm. This free virtual event celebrates the 270th Birthday of Dennis Family ancestor Prince Perkins, the free African American man who first purchased and founded the farm in Susquehanna County.
A full list of speakers is available below, and you can register for the FREE 2020 online symposium here. For more information on the Dennis Farm, go to https://thedennisfarm.org/.
This post was submitted by Metcalf Archaeological Consultants, Inc. and originally appears on their blog.
On August 26, Kimball Banks, [Metcalf's] Director of Strategic Development and Government Relations joined a panel of cultural resource management professionals for a webinar hosted by the Society of American Archaeologists (SAA) to discuss tips for starting a career in CRM. The webinar came about because of the possible uncertainty in the job market in the future. It is vital current professionals foster these discussions with the next generation to keep CRM moving forward. Some of the key takeaways included:
Network, network, network
Skills to sharpen
Professional Qualifications
Learn the law
Know your client
Where to find a job
The future of cultural resource management
This coming Friday (10/9/2020) and Saturday (10/10/2020), come join a free, public, online symposium discussing cemetery archeological excavations and investigations at the City of Austin’s Oakwood Cemetery Chapel in particular.
The two-day event includes 12 individual panel sessions with dozens of speakers covering topics from the Oakwood Chapel cemetery excavation project, to excavations across the south, to DNA analysis, to public engagement and commemoration. Among the panelists and speakers are representatives of several ACRA member firms: Acacia Heritage Consulting, AmaTerra Environmental, Inc., Cox|McLain Environmental Consulting, Inc., DP Heritage Consulting, and New South Associates. (I think that's everyone... If I missed someone, I do apologize).
The online symposium runs from 3-8 PM (CST) on Friday, October 9th and continues on Saturday, October 10th from 12-5 PM (CST). It’d be great to have you stop by and check out the proceedings from the comfort of your computers. To learn more about the symposium and to register (it’s FREE!), Click Here!
As a part of our partnership with NAEP, ACRA members are eligible to receive the member price for NAEP webinars. See below for information on an upcoming webinar on NEPA policy, and access the discount code here.
Greenhouse Gas Emissions Thresholds: A Cautionary Tale from California
Presented by Michael Hendrix, Jennifer Reed, & Rich Walter
Moderated by Laura Thorne
October 8, 2020 | 1:00 PM - 2:30 PM PT
Register Now
Feeling like you missed out on the Virtual 2020 ACRA Annual Conference? You're in luck - all of the conference sessions are now available on demand!
Cultural resource practitioners usually look to the past for our data—searching historical records, looking at old buildings, gathering oral histories from community elders, or digging important sites. Like many organizations in 2020, though, we took our conference to the future instead. Using the most up-to-date technologies, we hosted our 2020 conference virtually over two half days on September 24 and 25.
A combination of webinars and interactive round tables were presented on both days. Many of this year's sessions focused on diversity and inclusion, both within the cultural resource management industry and the larger historic preservation field. Sessions ranged from an update from the Advisory Council on Historic Preservation to in-depth dialogues on diversity in historic preservation.
Watch the 2020 conference sessions now!
Virtual ACRA Annual Conference from ACRA on Vimeo.
Your Congress in Action is a series that highlights the Capitol Hill news that affects CRM firms the most. Be sure to subscribe to the ACRAsphere to ensure you don't miss an update.
You can learn more about each winner and project in the video below, and congratulations again!
Tuesday, Sept. 29, 2020 12:30 PM - 2:30 PM Speaks-Warnock Symposium on Race and Racism at the University Department of History, University of Delaware Online via Zoom, Registration Required https://www.history.udel.edu/news/Pages/Symposium.aspx
From the University of Delaware:
UD now joins other universities who have participated in the Universities Studying Slavery project by launching a campus-wide discussion of the legacies of slavery, segregation and racism at UD and in Delaware from 1743 to the present, as well as the unacknowledged displacement of indigenous peoples from their lands. The symposium is part of the UD Antiracism Initiative, a new multiyear collaborative project with a variety of faculty, staff, and students across the university working to grapple with and repair racism at the University of Delaware and in the state of Delaware. The four invited guest scholars are professor Alyssa Mt. Pleasant (University at Buffalo), who works on indigenous land dispossession in relation to college and university campuses, as well as professors Hilary Green (University of Alabama), Jody Allen (a UD alumna who leads the Lemon Project at the College of William and Mary), and Rhondda Thomas in English (Clemson University), who have been participating in the national Universities Studying Slavery project at their own institutions. The Symposium on the History of Race and Racism at the University is co-sponsored by Africana Studies, Art History, Anthropology, English, History, Languages, Literatures and Cultures, Political Science, Sociology and Criminal Justice, Women and Gender Studies, the Center for Diversity Studies, the Interdisciplinary Humanities Research Center, the College of Arts and Science, the Library, Museums, and Press, and the Provost's Office.
UD now joins other universities who have participated in the Universities Studying Slavery project by launching a campus-wide discussion of the legacies of slavery, segregation and racism at UD and in Delaware from 1743 to the present, as well as the unacknowledged displacement of indigenous peoples from their lands. The symposium is part of the UD Antiracism Initiative, a new multiyear collaborative project with a variety of faculty, staff, and students across the university working to grapple with and repair racism at the University of Delaware and in the state of Delaware.
The four invited guest scholars are professor Alyssa Mt. Pleasant (University at Buffalo), who works on indigenous land dispossession in relation to college and university campuses, as well as professors Hilary Green (University of Alabama), Jody Allen (a UD alumna who leads the Lemon Project at the College of William and Mary), and Rhondda Thomas in English (Clemson University), who have been participating in the national Universities Studying Slavery project at their own institutions.
The Symposium on the History of Race and Racism at the University is co-sponsored by Africana Studies, Art History, Anthropology, English, History, Languages, Literatures and Cultures, Political Science, Sociology and Criminal Justice, Women and Gender Studies, the Center for Diversity Studies, the Interdisciplinary Humanities Research Center, the College of Arts and Science, the Library, Museums, and Press, and the Provost's Office.
Pre-registration is required.
From the ACHP:
The White House Initiative on Historically Black Colleges and Universities (WHI) today recognized the Advisory Council on Historic Preservation (ACHP) for its efforts to connect HBCU architecture students to the field of historic preservation through the Preservation in Practice program. During the final day of the HBCU Week Virtual Conference, the WHI premiered the ACHP’s video about Preservation in Practice https://youtu.be/bOqO2DjccNc. “We are proud to participate in the White House Initiative on Historically Black Colleges and Universities,” ACHP Chairman Aimee Jorjani said. “Our work with HBCU students on Preservation in Practice, as well as our partnership with other federal agencies in the Initiative’s Arts, Humanities, and History Cluster contribute greatly to our mission and to our work to build a more inclusive preservation program.” Preservation in Practice is a joint program with the ACHP, National Park Service (NPS), and National Trust for Historic Preservation’s HOPE Crew. It is designed to raise awareness about the importance of historic preservation and conservation, bring African American young professionals into preservation-related careers, invite them to experience authentic learning in place at historic sites, and educate about the rich cultural legacy of HBCUs. Preservation in Practice is a paid internship program for HBCU architecture students, which strives to model a comprehensive curriculum that directly connects architectural practice to preservation practice and articulates the important and meaningful role architects can play in preserving heritage of all kinds. Since 2018, 18 students from Morgan State University and Tuskegee University have participated in Preservation in Practice. Some of those students have since received full scholarships to study historic preservation in graduate school, been awarded preservation-related internships and jobs, and focused their architecture education on historic preservation. “I’m a graduate of an HBCU, Huston-Tillotson University, and the White House Initiative’s work has brought to the forefront this great pool of potential historic preservation professionals who can lead the way in telling the full story of our nation’s history,” said Robert Stanton, ACHP expert member and former NPS director. “Preservation in Practice is a wonderful opportunity to both increase awareness about the need for historic preservation among black students and give them marketable skills as they enter the job market.” In addition to Preservation in Practice, the ACHP, National Endowment for the Arts, National Endowment for the Humanities, Institute of Museum and Library Services, and Department of Education make up the Arts, Humanities, and History Cluster of the WHI. The Cluster hosted two sessions during the HBCU Week conference: “Applying for Success,” to promote federal funding opportunities that support HBCUs and “Discover Your Place in the Creative Economy,” to advise HBCU leaders about careers and other opportunities for students in the arts, history, and culture space. The September 24 sessions had 240 people participating. The Cluster page on the WHI website includes many resources for HBCUs, information from the two conference sessions, and details about each agency in the Cluster.
The White House Initiative on Historically Black Colleges and Universities (WHI) today recognized the Advisory Council on Historic Preservation (ACHP) for its efforts to connect HBCU architecture students to the field of historic preservation through the Preservation in Practice program.
During the final day of the HBCU Week Virtual Conference, the WHI premiered the ACHP’s video about Preservation in Practice https://youtu.be/bOqO2DjccNc.
“We are proud to participate in the White House Initiative on Historically Black Colleges and Universities,” ACHP Chairman Aimee Jorjani said. “Our work with HBCU students on Preservation in Practice, as well as our partnership with other federal agencies in the Initiative’s Arts, Humanities, and History Cluster contribute greatly to our mission and to our work to build a more inclusive preservation program.”
Preservation in Practice is a joint program with the ACHP, National Park Service (NPS), and National Trust for Historic Preservation’s HOPE Crew. It is designed to raise awareness about the importance of historic preservation and conservation, bring African American young professionals into preservation-related careers, invite them to experience authentic learning in place at historic sites, and educate about the rich cultural legacy of HBCUs.
Preservation in Practice is a paid internship program for HBCU architecture students, which strives to model a comprehensive curriculum that directly connects architectural practice to preservation practice and articulates the important and meaningful role architects can play in preserving heritage of all kinds.
Since 2018, 18 students from Morgan State University and Tuskegee University have participated in Preservation in Practice. Some of those students have since received full scholarships to study historic preservation in graduate school, been awarded preservation-related internships and jobs, and focused their architecture education on historic preservation.
“I’m a graduate of an HBCU, Huston-Tillotson University, and the White House Initiative’s work has brought to the forefront this great pool of potential historic preservation professionals who can lead the way in telling the full story of our nation’s history,” said Robert Stanton, ACHP expert member and former NPS director. “Preservation in Practice is a wonderful opportunity to both increase awareness about the need for historic preservation among black students and give them marketable skills as they enter the job market.”
In addition to Preservation in Practice, the ACHP, National Endowment for the Arts, National Endowment for the Humanities, Institute of Museum and Library Services, and Department of Education make up the Arts, Humanities, and History Cluster of the WHI. The Cluster hosted two sessions during the HBCU Week conference: “Applying for Success,” to promote federal funding opportunities that support HBCUs and “Discover Your Place in the Creative Economy,” to advise HBCU leaders about careers and other opportunities for students in the arts, history, and culture space. The September 24 sessions had 240 people participating.
The Cluster page on the WHI website includes many resources for HBCUs, information from the two conference sessions, and details about each agency in the Cluster.
You can view this press release and other news on the ACHP website.
