The Census, Employee Retention Tax Credit, and More!

2020 U.S. Census:
Every Marylander Counts! Maryland’s undercount in the 2010 census resulted in our state losing almost $1 billion in federal funding for critical programs. The census can be completed by mail, phone, or on-line.

News from the Federal Housing Finance Agency: 
Fannie Mae and Freddie Mac (the Enterprises) have issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home. Details here.
FHFA will allow borrowers who are able to return to making their normal monthly mortgage payment the ability to repay their missed payments at the time the home is sold, refinanced, or at maturity. More information on this option.
News of interest from the Internal Revenue Service about the 2020 tax season.
Reminder: Employee Retention Tax Credit
Employers that qualify for the CARES Act employee retention credit may treat health plan expenses paid to furloughed employees as qualified wages for purposes of the credit. Qualified employers that do not pay wages to laid off or furloughed employees, but continue health coverage for those employees, may treat the associated health plan expenses as qualified wages. More information here.
New Directors for Maryland Manufacturing:
Webinar Series from the Regional Manufacturing Institute of Maryland,.
Chamber Chats
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