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More than half of the 150 million Americans eligible for an economic relief payment from the federal government have received their money, but millions more are still waiting for their share of the $2 trillion coronavirus relief package known as the CARES Act passed by Congress in late March. 
Technical glitches with the Internal Revenue Service website have made it difficult for some Americans to track their payments or update their information, but federal officials insist they are working to ensure the fast release of the money aimed at spurring economic activity.&nbsp; 
<h2>Should I have received my money by now?</h2> 
The federal government is still in the process of distributing payments and has notified lawmakers that it could take until mid-September for the final batch of payments to make it to Americans. 
Of the 150 million Americans eligible for a payment, about 88 million have received their checks, according to the latest IRS&nbsp;data, leaving millions more still awaiting their payments.&nbsp; 
The IRS fast tracked the release of money to those with direct deposit bank information already filed with the agency from their 2018 or 2019 tax filings. For those without direct deposit information on file, the federal government started mailing out checks on April 24.&nbsp; 
Checks also are being mailed based on income, with lower earners slated to receive their checks first, according to an IRS timeline. 
<h2>If I haven’t received my money, where can I check on its status?</h2> 
The IRS has set up a “Get My Payment” website that allows you to check on the status of your payment. The website (<a href="https://www.irs.gov/coronavirus/get-my-payment" target="_blank">www.irs.gov/coronavirus/get-my-payment</a>) has been prone to technical glitches, so be prepared to troubleshoot for some issues that may come up. 
Some users, after submitting the required information — Social Security number, date of birth and mailing address from your most recent tax return — have received a message indicating “Payment Status Not Available.” The tech website Mashable reports that some users have found success in typing in their address in all capital letters, or using abbreviations for streets. 
The IRS website urges users to check their information against their most recent tax return to ensure the information matches up.&nbsp;The IRS website notes: “You may want to check your most recent tax return or consider if there is a different way to enter your street address (for example, 123 N. Main St. versus&nbsp;123 North Main St.).&nbsp;You may also verify how your address is formatted with the U.S. Postal Service&nbsp;by entering your address in the USPS ZIP Lookup tool, and then enter your address into Get My Payment exactly as it appears on file with USPS.” 
The website also urges users to enter numbers “exactly as they appear on your” tax forms, and “If the numbers from your 2019 tax return are not accepted, try the numbers from your 2018 tax return instead.” 
A letter sent out by the Trump administration advising Americans that their payment has been dispersed lists a toll-free number to call for more information, but that number (800-919-9835) only offers automated prompts that offer general information about eligibility requirements. 
<h2>Is there a way to double-check the amount?</h2> 
Those individuals who believe they were entitled to more money — whether it be because they have a dependent child that was not immediately reflected in their latest tax return or because their income changed since their last tax filing, will be able to make a claim to receive the additional money when filing their 2020 tax return, according to the IRS.&nbsp;“This is particularly important for individuals who may be entitled to the additional $500 per qualifying child dependent payments,” the IRS website states. 
<h2>Will I be charged taxes on this money?</h2> 
The IRS website states that payment recipients will not be taxed on their federal payment. According to the website, “you will not include the payment in your taxable income on your federal income tax return or pay income tax on your payment. It will not reduce your refund or increase the amount you owe when you file your 2020 federal income tax return. A payment also will not affect your income for purposes of determining eligibility for federal government assistance or benefit programs.” 
<h2>Can I still add direct deposit information?</h2> 
The Treasury Department is continuing to encourage Americans to file their direct deposit information. Individuals can check the status of their payment on the IRS’ “Get my Payment” website. If a payment has not already been sent by mail, individuals are&nbsp;allowed to enter their bank information on the website. Individuals who are not required to file their income taxes (typically those that have no income to report, or earn $12,000 or less individually or $24,000 or less in a joint filing) are asked to submit their direct deposit information through a separate IRS portal found at&nbsp;<a href="https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here" target="_blank">www.irs.gov/coronavirus/non-filers-enter-payment-info-here</a> 
<h2>What if I think they mailed it to my old address?</h2> 
Individuals should first check the IRS’ “Get My Payment” website to check whether their check has indeed gone out in the mail. If it has not, individuals can update their address by submitting their 2019 tax return with the updated information, according to the IRS website. The IRS press office did not offer additional guidance when asked by Newsday about the possibility of a check already being mailed to an outdated address, but one official said individuals should also ensure the Postal Service has their most recent address by submitting a change-of-address form. 
<h2>What if a deceased family member received a payment?</h2> 
Amid reports that deceased Americans have received payments, Treasury Secretary Steven Mnuchin told The Wall Street Journal&nbsp;the money must be returned. 
If a paper check was issued, families must write "Void" on the endorsement section in the back of the check and mail it back to the IRS office based on their region, according to new guidelines put out by the IRS on Wednesday.&nbsp;(For New Yorkers, checks can be mailed to&nbsp;Brookhaven Refund Inquiry Unit, 5000 Corporate Ct., Mail Stop 547, Holtsville, NY 11742. A complete list for other states can be found on the <a href="https://www.irs.gov/coronavirus/economic-impact-payment-information-center#more">IRS website</a>.) 
If the check was already cashed or issued via direct deposit, families must mail&nbsp;a check or money order to the IRS in the amount sent to the deceased individual. For those married couples or joint filers who received their deceased spouse's portion, they are only required to return their spouse's allocation. 
The IRS indicates a payment must be returned if the person "died before&nbsp;receipt&nbsp;of the payment." 
<h2>Will we get another stimulus check?</h2> 
There is no current legislation providing for a second round of payments. Congressional Democrats have floated several proposals for a second wave of direct dollars to Americans, and President Donald&nbsp;Trump told reporters on April 7 that a future round of payments “is absolutely under serious consideration.” But congressional Republicans have pushed back on the prospect citing concerns over the ever-increasing national deficit.

usCHECKS200505

Federal stimulus checks: Answers to your questions

Stimulus checks: Your questions answered

usCHECKS200505_photos

Victor Ocasio

While unemployment insurance benefits have been a saving grace for the 1.5&nbsp;million New Yorkers who have received payments so far, a new federal program —&nbsp;Pandemic Unemployment Assistance — is in place to aid workers not traditionally covered by state jobless benefits. 
PUA,&nbsp;created under the&nbsp;Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, extends benefits&nbsp;to gig workers, like those who drive for Uber and Lyft, independent contractors, the self employed and many others not eligible for traditional unemployment.&nbsp; 
The state Labor Department this week rolled out a new process that eliminates the need for these workers to first&nbsp;apply for and be denied traditional unemployment insurance before applying for PUA.&nbsp; 
What is Pandemic Unemployment Assistance? A new federal program that provides financial aid akin to unemployment insurance to Americans who are ineligible for traditional unemployment benefits. 
Who should apply for PUA? 
The biggest determining factor for eligibility for PUA benefits is whether COVID-19 has impacted an applicant’s ability to work. In addition to covering independent contractors, gig workers and the self-employed who have lost work because of the pandemic, PUA can cover&nbsp;a host of&nbsp;other situations: parents forced to stay home due to school closures, those not working because they have&nbsp;been diagnosed with or are showing COVID-19 symptoms, those who quit their job as a direct result of COVID-19, or those who otherwise would not qualify for regular or extended unemployment insurance benefits. 
What will I receive under PUA? 
Qualified claimants will receive financial aid based on their recent earnings. Additionally, they will receive an extra $600 per week until July 31. 
How do I apply for PUA benefits? 
The state Labor Department has launched a new online application that allows New Yorkers to apply for either traditional unemployment insurance or PUA,&nbsp;depending on their eligibility. Applicants seeking PUA do not have to complete a separate application. The DOL recommends applying online by visiting <a href="http://unemployment.labor.ny.gov">unemployment.labor.ny.gov</a>. 
From there, the online application will determine which program&nbsp;applicants are best suited for and prompt them to answer questions specific to that program. A DOL representative will&nbsp;call applicants if any additional information is needed. 
What should I do if I have already applied for PUA? 
Those that have already applied or PUA benefits do not need to take further action. If additional info is needed, a DOL representative will contact applicants. 
What should I do if I am unsure of the status of a submitted application? 
Applicants can check the status of their claim online by logging into their NY.Gov account on the DOL website. If claimants see that an application is still pending, no action is required. If an application has been denied, applicants should fill out the PUA application link that is in their account mailbox. If there is no link in their mailbox, they should fill out a new PUA application.

BZPUAFAQ200422

FAQ: What is Pandemic Unemployment Assistance, and how do I apply?

BZPUAFAQ200422_photos

Carol Polsky

Many, if not most, of those infected with the novel coronavirus that causes COVID-19 will suffer through its symptoms at home and recover. But thousands of people have symptoms so severe that they are admitted to hospitals, where many endure days and weeks receiving complex care in intensive care units. Eventually, the bills for such costly care will come due. 
What can patients expect now? 
<h2>I just lost my job and my insurance. What if I am hospitalized with COVID-19?</h2> 
The federal government has told hospitals it will pick up the cost for uninsured patients treated for COVID-19, although no formal proposal or process has been put forward. Hospitals offer financial assistance, or charity care, for people with incomes up to 300%&nbsp;of the federal poverty level which is $38,280 for a household of one and increasing with household size up to $132,360 for a household of eight, and $4,480 for each person over&nbsp;eight, although many hospitals offer more generous benefits. For those with higher incomes but without insurance, Northwell Health will charge commercial insurer rates and offer no-interest repayment plans, now deferred for at least 90 days. Until May 15, New Yorkers can apply within 60&nbsp;days of losing their health insurance to the&nbsp;New York State of Health Marketplace for individual coverage. 
<h2>Are COVID-19 patients having to pay their deductibles, copays and coinsurance?</h2> 
That's up to their insurer. Some insurers, including Empire Blue Cross Blue Shield, UnitedHealthcare, Cigna, Aetna and Humana have&nbsp;waived consumer cost-sharing from April 1 to&nbsp;May 31 for fully insured patients. Plans regulated under the federal Employee Retirement Security Act, or ERISA, which are&nbsp;self-funded by employers but administered by these insurers, can opt to offer such waivers but are not required to. Northwell Health is trying to work with insurers to have them waive&nbsp;costs for patients hospitalized in March before the waivers took effect,&nbsp;said Richard Miller,&nbsp;its executive vice president and chief business strategy officer. 
COVID-19 testing is available without copays or deductibles in almost all plans, although&nbsp;other procedures performed to rule out COVID-19 may not be, including CT scans,&nbsp;X-rays and tests for other infections. 
According to Janine Logan, a representative for the Nassau-Suffolk Hospital Council, as hospitals are following the rules set out by state and federal governments&nbsp;waiving&nbsp;cost-sharing for COVID-19 testing and/or treatment. “Legally and contractually, they cannot waive deductibles and co-payments on their own volition,” Logan said. 
<h2>Can COVID-19 patients getting emergency treatment be hit with high bills from out-of-network providers?</h2> 
Logan said&nbsp;New York State’s Surprise Billing law protects many patients in emergency situations from&nbsp;physician and hospital charges in excess of in-network copays, deductibles and coinsurance. It covers state-regulated plans and Medicaid beneficiaries, but does not cover self-insured plans or ERISA plans. However, Medicare providers, which include most hospitals, had to agree not to charge patients out-of-network rates as a condition of receiving federal coronavirus relief aid. 
<h2>What is a typical bill for a COVID-19 hospitalization?</h2> 
Given the complexity of each case, there is no typical bill, Logan said.&nbsp;But, she said, “For those on ventilators and/or on dialysis for a protracted length of time, the costs can run into the hundreds of thousands” of dollars. That is the cost to insurers, although&nbsp;patients with high deductibles, copays or coinsurance could face substantial costs. 
<h2>Have patients started to receive any bills yet?</h2> 
According to Logan, the billing cycles usually takes two to four weeks after&nbsp;a patient is discharged. Northwell Health, however, is holding on to thousands of patient bills and will not send them out until insurers have had enough time to revamp their claims processing system to reflect waivers of consumer cost sharing, Miller said.&nbsp;He said no copays were currently being collected from COVID-19 patients while insurers adjust their billing. 
<h2>Since so many patients are probably on Medicare, will they face bills of 20%&nbsp;of cost if they don’t have supplemental insurance?&nbsp;</h2> 
The 20%&nbsp;cost-sharing for Medicare beneficiaries is limited to physician and outpatient services for those that have traditional Medicare Part B coverage with no supplemental insurance, Logan said.&nbsp;Hospital bills are covered under Medicare Part A, which has a deductible and coinsurance after 61 days. Patients with supplemental coverage should check with their insurer about waivers and cost shares.

liINSUR200421

COVID-19 medical bills: What patients can expect to pay

COVID-19 medical bills: What patients can expect

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&nbsp;The state Department of Labor adopted a new "don't call us, we'll call you" protocol on Friday, April 10, after its&nbsp;phone lines were overwhelmed by thousands of New Yorkers calling to try to complete their unemployment claims.&nbsp; 
The new phone system accompanies a revamped online application process, which should allow most filers to complete their claims without a follow-up phone call.&nbsp;&nbsp;If more information is needed, an agency staffer will call you within 72 hours. 
If you&nbsp;used&nbsp;the old online application and were directed to call DOL to complete your&nbsp;claim, you&nbsp;should stop calling and wait for a call from a DOL representative, the agency said.&nbsp; 
An&nbsp;expansion&nbsp;of unemployment benefits was included in a federal&nbsp;economic relief bill signed into law in March, providing an extra $600 a week through July 31 on top of the unemployment aid that states provide, and extending benefits for&nbsp;13&nbsp;weeks beyond the standard six months. 
The legislation also extends unemployment benefits, for the first time, to gig workers&nbsp;and sole proprietors under its&nbsp;Pandemic Unemployment Assistance program.&nbsp; 
Here are answers to common questions about the filing process: 
How do I file a claim? 
File online if you can.&nbsp;(The state hasn't allowed&nbsp;in-person applications since 2005.) 
To do so, go to&nbsp;<a href="http://labor.ny.gov./unemploymentassistance.shtm">labor.ny.gov./unemploymentassistance.shtm</a>. The site contains links to how-to guides for filing your claim. 
You may file online Monday-Sunday from 7:30 a.m. to 7:30 p.m. 
Click LOGIN and sign in with your NY.gov account if you have one. If you don't have an NY.gov&nbsp;account, scroll down to "Don't have an account?" and follow the instructions. 
If you must file by phone, call&nbsp;888-209-8124. The phone center is open Monday-Friday 8 a.m. to 7:30 &nbsp;p.m. and Saturday and Sunday from 7:30 a.m. to 8 p.m. 
To reduce stress on the online filing system and phone lines, DOL has assigned&nbsp;filing days&nbsp;for new claims based on the first letter of your last name.&nbsp; 
A-F: Monday 
G-N: Tuesday 
O-Z: Wednesday 
Missed your day: Thursday through Sunday 
Any claim you file will be backdated to the date you became unemployed. If you are eligible, you will be paid for all benefits due. 
How long will it take to receive my first unemployment check? 
Once a claim is complete, payments will be issued as soon as a week. Those who select direct deposit will likely receive their payment faster than those who&nbsp;select a&nbsp;check or debit card option. 
How much will I get? 
Your&nbsp;benefit rate is based on your&nbsp;recent wages. The current maximum weekly benefit rate in New York is $504. 
Will I receive the additional $600 on top of that? 
Yes. Those who are&nbsp;approved for unemployment benefits do not have to do anything else to be qualified for the&nbsp;additional $600 a week starting April 5 through July 31. 
How long will my benefits last? 
If you&nbsp;are still unemployed after the standard 26-week&nbsp;benefit period, you&nbsp;will receive up to 13 additional weeks of checks. 
Am I still required to provide proof that I’m searching for a job? 
Generally, you do not have to search for work if you were laid off because your employer closed or reduced operations due to COVID-19, and your employer told you that you will be called back to work when the business reopens. 
Barring that, you must search for work. The DOL said it is aware of the challenges&nbsp;to finding a job amid the pandemic&nbsp;crisis, but said applicants must make their best effort. 
The agency said benefit recipients must make sure to document their&nbsp;work search efforts and&nbsp;must submit proof of them if asked. Claimants risk losing their benefits if they do not search for work and submit proof of search efforts if asked.&nbsp; 
 
I have not been laid off but I am not receiving any income because my employer is currently closed. Can I file for unemployment? 
If you are not being paid your normal rate, you should file for unemployment insurance. 
Can I apply for unemployment to supplement some of my lost income due to a severe reduction in hours? 
Yes.&nbsp; If you earn less than $504 per week, you may be eligible for partial unemployment. You should file a claim to determine if you are eligible. 
What type of information do I need to apply for unemployment? 
Gather your&nbsp;information before filing a claim: SSN, driver's license information, your last W-2 (for employer information, employer number and wages); if you want direct deposit, get your account number and routing number. 
If my former employer contests my unemployment claim, am I out of luck? 
While that can happen, DOL&nbsp;recommends that you respond promptly to requests for further information; this can help the department make a determination faster. 
Will any assistance be provided to applicants who may not be familiar with computers or using the internet? 
Yes. The DOL will provide technical assistance through email or over the phone.&nbsp; 
Do you have to be a U.S. citizen, or be eligible to work in the United States,&nbsp;to get unemployment insurance? 
Yes. To be eligible, a worker must be legally authorized to work in the United States.&nbsp;. 
Are freelancers or gig workers such as Uber drivers now eligible for unemployment?&nbsp; 
Traditionally, independent contractors&nbsp;working in New York State are not eligible. However, under the recently signed federal expansions of unemployment coverage, they may be. Such workers can apply for Pandemic Unemployment Assistance. For informaton on how to apply, go to&nbsp;<a href="https://www.labor.ny.gov/ui/pandemic-unemployment-assistance.shtm" target="_blank">labor.ny.gov/ui/pandemic-unemployment-assistance.shtm</a>. 
Are sole proprietors or owners of single-employee businesses&nbsp;eligible? 
Like independent contractors, self-employed individuals working in New York have traditionally not been eligible, but they may be under&nbsp;the Pandemic Unemployment Assistance program and should apply. 
What if I was already receiving unemployment benefits? 
There are a few different situations regarding exhausted/expired&nbsp;benefits.&nbsp; 
- If your benefit year expired after July 1, 2019, you will need to file a new claim to receive 13 additional weeks of benefits. You will receive a letter in the mail from the&nbsp;DOL with more details. 
- If your benefit year has not expired, but you exhausted your 26 weeks of benefits, you will receive a letter from DOL advising you to begin certifying to receive the additional 13 weeks of benefits. 
- If your benefit year has not expired, but you stopped claiming benefits before your 26 weeks were up (for example, if you went back to work), begin certifying for benefits again to start receiving benefits. 
Are unemployment benefits taxable income? 
Yes. Unemployment benefits are subject to state and federal taxes.&nbsp;

BZQ&amp;A200405

Filing unemployment claims: What you need to know

Filing for unemployment: What you need to know

The New York State Department of Labor Unemployment released a public service announcement telling residents the department has made changes to meet the increased demand of those filing for unemployment amid the coronavirus pandemic. 


State Department of Labor Unemployment PSA

Newsday

James T. Madore

Small businesses&nbsp;on Long Island are facing the twin challenges of surviving the coronavirus pandemic and navigating the government loan programs meant to help them. 
The $2 trillion federal stimulus package, signed into law March 27, created Paycheck Protection Program loans to encourage employers with fewer than 500 employees not to issue pink slips. PPP loans come from banks, credit unions and other lenders approved by the U.S. Small Business Administration. 
The stimulus package also established a forgivable loan advance or grant of up to $10,000 on SBA’s Economic Injury Disaster Loans, which are funded by the U.S. Department of Treasury. 
Some business owners have found the process of applying for an EIDL or PPP loan confusing and frustrating. SBA replaced its EIDL online application portal last month after the personal information of about 100 applicants was exposed to other applicants. Loan officers at major banks are turning away some applicants for PPP loans. 
The PPP is getting the most attention&nbsp;because it's new and may be forgivable, said John Mallano, deputy director of SBA’s New York district. 
“PPP provides a direct incentive for small businesses to keep their workers on their payroll” during the pandemic,&nbsp;he said this week. “Up to eight weeks of eligible expenses for those businesses will be forgiven if they retain their employees and use at least 75% of the [loan] proceeds on payroll costs.” 
For EIDL, SBA has simplified the application process in response to thousands of applicants, said Erica Chase-Gregory, director of the Small Business Development Center at Farmingdale State College, which is part of the SBA. &nbsp; 
Businesses and private nonprofits harmed by the virus outbreak are eligible for EIDL and PPP, even if they received an EIDL loan after superstorm Sandy in 2012. “If you have an existing disaster loan you can still apply for another, but they cannot be consolidated,” Chase-Gregory&nbsp;said. 
Robert J. Piechota, manager of SBA’s Hauppauge office, urged loan applicants to be patient with the agency as it confronts an&nbsp;historic number of applications. “If you don’t get any kind of response from SBA for over a week after you’ve applied [for EIDL], call the customer service line at 800-659-2955 to check in,” he said. 
Here are answers to common questions about EIDL and PPP loans: 
ECONOMIC INJURY DISASTER LOANS&nbsp; 
Q: I applied for an EIDL before SBA introduced a "streamlined" application process in late March.&nbsp;Do I need to do anything more? 
A: Yes, you need to reapply at <a href="http://covid19relief.sba.gov">covid19relief.sba.gov</a>. SBA told all applicants to resubmit their information at the new application website, regardless if they submitted information previously or not. 
Q: How long does it take to complete the online application? 
A: Less than an hour. 
Q: If I apply for an EIDL&nbsp;when will I get the money? It looks like it will be weeks or months away. 
A: SBA is offering loan advances of up to $10,000; the advance is&nbsp;forgiveable just like a grant. You should request the advance when applying for an EIDL at&nbsp;<a href="http://covid19relief.sba.gov">covid19relief.sba.gov</a>; the advance could be available within days.&nbsp;The entire loan amount, including the&nbsp;advance,&nbsp;is determined by the size of the business.&nbsp;The maximum loan amount is&nbsp;$2 million. 
Q: Does&nbsp;SBA require&nbsp;proof of a business’ profitability for an EIDL? 
A: You need to show the ability to pay the loan back.&nbsp;However, the underwriting is typically more lenient during times of disaster.&nbsp; 
Q. What is the interest rate and term of the loan? 
A. 3.75% for businesses and 2.75% for nonprofits. You have up to 30 years to pay off the loan, with payments deferred for the first year.&nbsp; 
Q. Do I have to provide collateral? 
A: Yes, in some cases. There is no collateral requirement for the first $25,000; above that amount you&nbsp;must pledge collateral. Personal guarantees are&nbsp;required for loans of more than $200,000. SBA will take a second position, if the collateral is already pledged against a previous debt. 
Q: Are sole proprietorships and limited liability corporations eligible for an EIDL? 
A: Yes&nbsp; 
Q. What can I use the money for? 
It can be used to cover working capital needs such as fixed debts, payroll, accounts payable and other bills that could have been paid had the pandemic not occurred. The funds cannot be used to replace lost sales or profit or to pay for an expansion project. 
Q:&nbsp;If I already have a bank loan, can I still apply for an EIDL from SBA?&nbsp; 
A: Yes, but the loans cannot be consolidated. If you have a disaster loan because of superstorm Sandy in 2012, payment on that has been deferred until January 2021. &nbsp;&nbsp; 
Q: If I apply for an EIDL does that disqualify me from applying for a PPP loan? 
A: No, you should apply for EIDL and PPP.&nbsp;If you are approved for both, you don't have to take both. If you decide&nbsp;to take an EIDL and a PPP loan, make sure not to double dip. For example, if you are awarded money from both EIDL and PPP for payroll expenses, take the funds for payroll from PPP. 
PAYCHECK PROTECTION PROGRAM LOANS 
Q: Where do I&nbsp;apply for a PPP loan: SBA or a bank? 
A: PPP applications are being taken by banks, credit unions and other lenders&nbsp;that work with the SBA. The number of participating lenders is in flux. Ask your bank&nbsp;and if they’re not part of PPP, contact the Small Business Development Centers at Farmingdale State College and Stony Brook University for help in finding a lender. 
Q: When will the money be available? 
A: Lenders will issue loans between April 13 and June 30, though Congress has limited the total amount&nbsp;of PPP funding available. The maximum loan amount is $10 milllion. 
Q: What can I&nbsp;use the money for? 
&nbsp;A: To pay employee salaries, health insurance premiums and other payroll costs, mortgage&nbsp; interest, rent, utility bills, and interest on debt that existed before Feb. 15, 2020.&nbsp; 
Q: I'm keeping my&nbsp;employees on the&nbsp;payroll. I understand the PPP will reimburse me if I keep paying them.&nbsp;I have money in the bank in my corporate and personal accounts. Will that disqualify me? 
A: No, you are eligible to apply for a PPP loan. 
Q: My business is considered essential and is open and operating. Can I apply for a PPP loan to cover payroll expenses? 
A: You should not&nbsp;apply if you aren’t showing a loss due to the coronavirus pandemic. Loan decisions are made based on the financial records you submit. If you don’t show a need, the bank will deny you. 
Q: What is the interest rate and term of the loan? 
A. 1%, with a 2-year term. Payments are deferred for the first 6 months. 
Q: Do I have to provide collateral? 
A: There are no collateral requirements, personal guarantees, SBA fees or the "credit elsewhere test" — all of which apply for other types of bank loans. 
Q: Is a PPP loan forgiveable? 
A: Yes, in some cases. Up to eight weeks of eligible expenses will be forgiven if the business retains its work force and uses at least 75% of the PPP money on payroll costs. 
Q: I'm having trouble filling out the loan application, where can I get help? 
A: Here are some resources: 
<ul> 
 <li>The Small Business Development Centers at Farmingdale State College (sbdc@farmingdale.edu or leave a message at 934-420-2765 and a business adviser will respond)&nbsp; and&nbsp;Stony Brook University (frontdesksbdc@stonybrook.edu or leave a message at 631-632-9070)</li> 
 <li>The Long Island chapter of the Service Corps of Retired Executives (longisland.score.org)</li> 
 <li>La Fuerza Community Development Corp. in East Norwich&nbsp;(516-666-5071 or gramirez@lafuerzacdc.org)</li> 
 <li>The Entrepreneurship Assistance Centers at Hofstra University (bdc@hofstra.edu or 516-463-4069) and Suffolk County Community College (EAPCenter@sunysuffolk.edu or 631-851-6214, and starting April 20 Spanish speakers can go to&nbsp;<a href="mailto:eapcenterspanish@sunysuffolk.edu">eapcenterspanish@sunysuffolk.edu</a>&nbsp;or&nbsp;631-851-6224)</li> 
 <li>Information on EIDL is at <a href="http://sba.gov/disaster">sba.gov/disaster</a> or 800-659-2955</li> 
 <li>Information about PPP is&nbsp;at&nbsp;<a href="http://sba.gov/paycheckprotection">sba.gov/paycheckprotection</a></li> 
</ul> 
 &nbsp; 
&nbsp;

BZLOANQ&amp;A200419

FAQ: What firms need to know to apply for monetary aid

BZLOANQ&A200412_photos

The coronavirus may prove to be the master teacher of our lifetime. The lessons are hard. Some we’ve&nbsp;grasped, some will come later, and others we may miss entirely. One of the first lessons:&nbsp;plan&nbsp;for the unexpected&nbsp;today, because who knows about tomorrow. 
“Sadly, people of all ages and socioeconomic backgrounds are dying unexpectedly and without the estate planning tools to assist the family members that they leave behind,” says Antoinette France-Harris, an associate professor of legal studies at Clayton State University in Atlanta. 
One key piece of an estate plan is a will, also referred to as a last will and testament. In this document, you state how your property should be distributed upon your death, list guardians for any minor or disabled children, and designate someone to carry out your final wishes. 
Despite the importance of a will, a 2017 study from Caring.com found that only 4 in 10 Americans had one. 
If you die without a will [or trust], state law determines what happens to your assets, and potentially who takes care of your loved ones.&nbsp;The process is long and expensive. 
“A big mistake that many have made is procrastinating and not having these documents in place for such a time as this,"&nbsp;France-Harris said.&nbsp;"The time for estate planning is today." 
Talk to a lawyer 
You might be fretting about how you can get a will during the lockdown. There’s no need to worry. Adjustments are being made. 
Right now, not being able to meet with clients poses challenges for Justin Angelino, a senior associate attorney at O’Connor, O’Connor, Hintz &amp; Deveney in Melville. But he, like other attorneys, is&nbsp;finding solutions. 
“I’ve been working with clients using FaceTime and Zoom for meetings in order to remotely attain information," Angelino said.&nbsp;"My goal is the same —&nbsp;to make sure all of the wishes of my client as to where they want their estate to go after they pass are properly and legally documented in writing.” 
He said&nbsp;many couples are currently concerned about their mortality so taking care of their children financially is a top priority. 
“The most important items to include for a couple with children are comprehensive trustee and guardian provisions to ensure the couple’s children are properly taken care of if a worst-case scenario&nbsp;takes place,” Angelino said. 
Recently, his practice has&nbsp;seen an uptick in unmarried LGBTQ clients&nbsp;who wish to protect the disposition of their assets during the pandemic. 
What's different now 
For sure, it’s not business as usual. Generally speaking, in addition to the signature of the person drawing it up, a will&nbsp;requires signatures of two witnesses, who can't be beneficiaries.&nbsp;How do you get around this in the current environment? 
“Thanks to an executive order by Gov. [Andrew M.] Cuomo, which temporarily allows remote witnessing and notarizing in New York State, obtaining legal services while home is possible,"&nbsp;said Anthony Enea, managing partner at Enea, Scanlan &amp; Sirignano&nbsp;LLP&nbsp;in White Plains. "All estate planning documents, including last wills, can be executed remotely via audio-video conferencing platforms.”&nbsp; 
Lawyers are showing their creative side. 
“Some attorneys are passing documents through windows, some are doing meetings outside,” says Sherri Stinson, an estate planning attorney in Palm Harbor, Florida. 
If you don’t have a referral from a loved one, a good place to find an estate-planning attorney is through the National Association of Estate Planners and Council's website,&nbsp;<a href="http://www.naepc.org/">NAEPC.org</a>. 
The Do-It-Yourself&nbsp;option&nbsp; &nbsp;&nbsp; 
But what if you’re laid off or hesitant to spend anything extra just in case things get&nbsp;tougher down the road financially? In the best of worlds you would hire a lawyer. But there's no question the do-it-yourself option&nbsp;is better than nothing. Proceed smartly, though. 
Money-saving expert Andrea Woroch of Bakersfield, California, recommends <a href="https://trustandwill.com/">TrustandWill.com</a>. 
“You don’t have to pay high legal fees for an estate planning attorney," she said. "You can set up a will online for as little as $70. They give you step-by-step instructions with live chat support to help you through the process.” 
There are many online resources like <a href="https://www.rocketlawyer.com/">RocketLawyer.com</a>, <a href="https://www.gentreo.com/">Gentreo.com</a>, <a href="https://www.nolo.com/">Nolo.com</a> and <a href="https://www.legalzoom.com/">LegalZoom.com</a>. 
“If you’re looking for guidance, you can connect with a lawyer over the phone for specific advice for your situation and about what is compliant with your state laws,"&nbsp;said&nbsp;Charles Rampenthal, general counsel of LegalZoom.com.&nbsp;"This includes specific directions or advice on how to sign the will and have it properly witnessed." 
So, while you’re going the do-it-yourself&nbsp;route, you’re not completely on your own. 
Alternatively, reach out to your state bar association to see if it has forms needed to do a will and available to the general public, and if they offer any related services, said Shann Chaudhry, a San Antonio estate planning attorney who offers remote legal services across the country. 
Chaudhry also recommended&nbsp;finding out if your employer, or groups to which you belong,&nbsp;provide access to companies like&nbsp;LegalShield, which has lawyers at reduced costs. 
“Look to any membership organizations like AAA or AARP to see if they have cost-reduced service providers,” he said.

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