Updates on COVID-19

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Update – Phase 3 Dept HHS Provider Relief Grant (PRG)

I wanted to reach out to offer some insight into the HHS Phase III Funding Application that I emailed you on Friday October 23, 2020. This 3rd round of HHS funding will first go to Dental Practices who have not received funding from HHS within the previous two (2) HHS phases. This would include Start Up […]

HHS Applications are due TONIGHT by Midnight!

As a reminder, Phase 3 for the Provider Relief Grant (PRG) under the Department of Health and Human Services (HHS) is still available up to 12 Midnight tonight. If you have not applied, please click on this URL: https://www.hhs.gov/coronavirus/cares-act-provider-relief-fund/for-providers/index.html If you are in need of Tax Returns and P & L’s, etc. from my office, […]

Schiff Dental Clients- HHS Phase 3 – Update October 23, 2020

HHS Grant Relief Fund – Phase 3 Yesterday, the HHS changed the rules yet again, to now include the loss of Gross Revenue during the Pandemic. As a result of this change, we are encouraging clients to file for the additional funding under Phase 3 of the Provider Relief Fund (PRF). You can apply again, […]

Schiff Client Update – Thursday – August 6, 2020 4:45 PM

Please see this most important message from the ADA with respect to the following major tax issues that will impact your Dental Practice. Here are the highlights: Giving  additional flexibility for Paycheck Protection Program (PPP) loans by allowing borrowers to: >> Providing income tax credits to dental practices for the purchase of (PPE) Equipment & […]

Schiff Client Update – Sunday, August 2, 2020 8:30 AM

HHS Application (2% of annual Fee Income 2019)  The new due date for filing is now August 28, 2020extended from August 3, 2020 and July 24, 2020! Please note: This HHS Grant Relief program is open to all Dentists. If you apply, you will receive 2% of the annual fee income of your practice after patient refunds […]

Schiff Client Update – Tuesday – August 4, 2020 11 AM EST (2% Provider Relief Grant)

Overnight, many of you received your 2% Provider Relief Grant (2% from Dept of HHS). Many of you are asking, what or how do I spend these funds? There aren’t stringent restrictions but officially HHS has stated that the funds must be used for what is outlined below. Also, make sure you are keeping track […]

HHS Updates on Provider Relief Fund for Dentists – ADA NEWS ALERT

Here is the ADA position on the HHS Provider Relief Fund for Dentists. We along with the ADCPA received many calls from our clients about the “balance billing” issue if you were to participate with this grant (relief funds). You will see below, the ADA worked with HHS to resolve this issue. It ONLY becomes […]

All Dentists Now Eligible for Provider Relief Fund Payment

As part of the 2.2 Trillion CARES Act signed by the President on March 27, $175 billion was allocated to the CARES Act Provider Relief Fund. This fund was intended to provide funds to healthcare providers to help them fight the COVID-19 virus for their patients. This fund was limited up until recently to physicians, hospitals and […]

Schiff Client Update June 24, 2020 3:30 PM

PPP – Paycheck Protection Program Flexibility Act of 2020 On June 5, 2020, the “Flexibility” Act was signed into law. As a result, the covered period has been extended from 8 weeks to 24 weeks. In addition, the Payroll Costs have been reduced from 75% to 60% in order to gain maximum PPP Loan Forgiveness. […]

Schiff Client update, as of June 4, 2020 at 6:00 AM

Yesterday, at approximate 7:00 PM EST, the SENATE approved HR7010. We are expecting President Trump to sign the Bill today. Here are the highlights of HR7010, Changes to the Small Business PPP Loan Programs Below is a summary of the changes to the Small Business PPP Loan Program. These modifications to the program require a new strategy […]