In this issue of the
Monday Morning Messenger, in our
Top Story, the association reminds members about an important upcoming annual federal compliance deadline.
Additionally, read more about the very recently extended medical card waiver, and the new waiver expiration date.
Due to COVID, there are various tax credits for employers and even payroll tax deferral. The IRS will be covering these employer tax matters in a webinar later this week. Do not miss out on learning about tax breaks that be available to your business.
Also, in addition to the Member Alert, TPGA sent you last week to expand the Paycheck Protection Program (PPP). Now the SBA has reopened its Economic Disaster Injury Loans (EIDL), including the up to $10,000 advance to all small businesses again, not just agribusiness.
Lastly, we are re-linking the Member Alert on the expansion of the PPP as the final deadline to apply for the forgivable loan, June 30, 2020 is quickly approaching.
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- In Brief
- Hazmat Registration
- Medical Card Extension
- Webinar: Tax Credits
- EIDL Loan Reopens
- Association Quick Tabs
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Calendar
May 31, 2020
June 22-30, 2020
June 23, 2020
Recurrent Hazmat Training
Waiver Expires
June 25, 2020
IRS Webinar
Employer Tax Credits
June 30, 2020
July 1, 2020
Hazmat Registration
is Due
July 1-2, 2020
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Hazmat Registrations Are Due By July 1, 2020
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Your
hazmat registration
may be due to the Pipeline Hazardous Material Safety Administration of the U.S. Department of Transportation.
Each registration year is the one-year period from July 1 to June 30.
Who Must Register?
A quantity of hazardous material that requires placarding. The placarding requirements are set forth in 49 CFR 172 Subpart F. Note that the transportation of any quantity of a hazardous material in a bulk packaging requires placarding and therefore registration. This includes residues that remain in an un-purged tank truck or rail tank car.
Registration Fees For 2020-2021.
The annual fee for small businesses for registration year 2020-2021 and the following years will remain at $250, (plus a $25 processing fee for each registration form), and $2,575 (plus a $25 processing fee for each registration form) for all other registrants.
A company (whether you're a propane dealer, propane wholesaler, propane bulk station and terminal) is classified as a small business for the purposes of hazmat registration, if their company has under 500 employees.
Recordkeeping Requirements.
Copies of the registration statement and the certificate of registration must be kept for three years at your principal place of business and must be
available for inspection.
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CDL Medical Card Waiver Extension
to September 30, 2020
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To ensure commercial drivers are able to continue to work during COVID 19 shutdowns, the Federal Motor Carrier Safety Administration (FMCSA) has extended the compliance date for medical certificates and medical waivers expiring from March 1, 2020 until September 30, 2020. The Texas Department of Public Safety will continue to process medical received and will
discontinue the downgrade of CDLs for expired medical certificates
or cancellations due to expired medical waivers. When the Texas Department of Public Safety resumes normal operations as part of Governor’s Phase 4 openings tentatively scheduled for midsummer, you will be able to renew without any penalty.
Waiver expires
September 30, 2020
.
But you do not have to wait.
Please note, drivers who have an updated medical certificate may still submit their information for processing to the CDL Help Desk at
cdlmedcert@dps.texas.gov
.
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Webinar: Business IRS Tax Credits
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The Internal Revenue Service and the U.S. Small Business Administration have partnered to educate small business on important tax credits.
June 25, 2020
| 1:00 pm - 2:00 pm Central Time | Webinar
IRS will provide information that small businesses need to be aware of including
payroll tax credits, employee retention credit,
and
payroll tax deferral
. SBA will provide an update on resources and lending programs available to small businesses. This webinar will be conducted on Microsoft Teams. You do not have to have Microsoft to participate.
No registration is required.
Click here at above-mentioned time to launch webinar.
For dial in only, 469-225-3127 Conference ID: 479 683 139#
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Economic Injury Disaster Loan
Reopens to all Small Businesses
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In addition to PPP loan, last week, to further meet the needs of U.S. small businesses, the U.S. Small Business Administration (SBA) reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance Program to
all eligible applicants
experiencing economic impacts due to COVID-19.
$90B in EIDL loans have been approved since the start of COVID with $7.6B being dispersed to Texas.
EIDL is now open to all business under 500 not just agribusiness.
How does a business qualify for an EIDL?
Many factors go into qualifying for an EIDL. A primary one is that a small business has to show a loss effective January 31, 2020, to now and/or in the future, as compared to 2019 financials.
They are eligible to apply for an Economic Injury Disaster Loan (EIDL) and/or EIDL Advance of
up to
$10,000
. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue.
Employers can receive $1,000 per employee through the advance. This
loan “advance
”
will not have to be repaid.
Businesses who need more funds can apply for funds beyond the advance at a rate of 3.75%. Loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan.
To keep payments affordable for small businesses, SBA offers loans with long repayment terms, up to a maximum of 30 years. Plus, the first payment is deferred for one year.
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PPP Flexibility Act
Application Deadline
is June 30, 2020
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Propane Service Corporation
Members SAVE on
100's of items
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TPGA Coronavirus
Resource Pages
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Follow us on Social Media
for TPGA reminders & updates
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