JUST A THOUGHT
The government has so far has rolled out several assistance programs including Paid Sick Leave Credit, Paid Family Leave Credit, Employee Retention Credit, Payroll Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) in respect to the $10,000 Advance Payment. Some of them require payback if specific requirements are not met, and some require companies to have a policy for paid sick leave credit or paid family leave the credit.
Knowing the basis of these programs is to promote the US economy and to retain employees, business owners should be aware that, specifically stated by the U.S. Treasury Department, criminal charges will be placed against those who use these funds for fraudulent purposes. Per the loan application, the funds will be used to retain workers and maintain payroll or to make a mortgage, lease, and utility payments.
As a reminder from us, please be cautious and try not to be creative in using this special funding at this time.
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