Subject:                                         FW: HSC Coronavirus Communication Edition #30



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Edition #30

December 21, 2020


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HSC COVID-19 Fast Response Team

We are here to help! 


In these uncertain times with multimedia channels reporting conflicting and sometimes incorrect information, our firm is working to add clarity to this situation by providing new and verified information as it becomes available to us. We have also set up a Coronavirus Resource Center on our website for ongoing information. 


In addition, we have created the HSC COVID-19 Fast Response Team to serve our clients in addressing the difficult decisions they are being faced with on a daily basis. This dedicated multi-disciplinary team consists of our tax, payroll, HR, capital markets and accounting professionals. Image removed by sender.


If you have questions or would like to speak with this team, please contact your HSC team member or Kyle Wininger,



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What is in the Second Stimulus Package?


Leaders of Congress have reached an agreement on a $900 billion pandemic relief bill. This will include enhanced unemployment benefits and additional direct cash payments to individuals under a certain income level. It is unclear what that income level is at this time.


Here is what we know so far. Please remember NOTHING is final at the time this was written.


Stimulus Checks

This package includes direct stimulus payments of $600 to individuals, the stimulus will once again be sent to people below a certain income level. As of Sunday night, this level has not been set. Eligible families will also receive an additional $600 per child.


Unemployment Benefits

Under this new package, unemployed individuals would receive a $300 weekly federal enhancement in benefits for 11 weeks, from the end of December through mid-March. This agreement also extends, the Pandemic Unemployment Assistance program to include benefits to gig workers, freelancers, independent contractors, and the self-employed and certain others affected by Coronavirus. The Pandemic Emergency Unemployment Compensation program will provide an additional 13 weeks of payments to individuals that have otherwise received all benefits.


Small Business Loans

This bill would reopen the Paycheck Protection Program. This means that some of the hardest hit small businesses will be able to apply for a second PPP loan. The PPP loan program will be expanded to include eligibility for nonprofits organizations, news outlets and independent restaurants. This second package, also, carves out $15 billion for live venues, independent movie theaters and cultural institutions, which were not included in the first package.


Businesses that received a PPP loans in the spring with the first round of PPP loans and have had them forgiven, will be allowed to deduct the costs covered by those loans on their federal tax returns. While the issue had been a point of contention, Sen. John Thune (R-S.D.) said the costs would be deductible under the final agreement.


Funding for Schools and Childcare

This would provide $82 billion in aid for K-12 schools and colleges, with an additional $10 billion included for childcare providers.


Nutrition Assistance

This package would raise SNAP benefits by 15% for six months, this does not expand eligibility. This bill would also expand the Pandemic EBT program to families with children under age 6, deeming them “enrolled” in childcare – which makes them eligible for benefits.


Vaccine Funding

The agreement provides $20 billion to purchase vaccines so that be available at no charge and $8 billion for vaccine distribution.


This bill does not include any direct aid to state and local governments.  


Information for this article was gathered from CNNPolitics article Second stimulus package: See what's in it.


If you have any questions please contact Kathy Ettensohn, CPA at or Mike Vogel, CPA at



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Harding, Shymanski & Company, P.S.C. is a public accounting firm with offices in Evansville, Indiana, and Louisville, Kentucky. We are one of the largest accounting firms in Southern Indiana and Kentucky, providing experienced professionals who look beyond the numbers to the heart of complex issues.  Our clients range in size from small proprietorships to billion-dollar corporations, from closely-held and family-owned businesses to publicly traded firms, and span nearly every industry. They all have one thing in common: they count on our expertise to capitalize on their opportunities and make the best of their challenges.


Evansville Office

21 SE Third Street

Suite 500

Evansville, IN  47708

(812) 464-9161

Louisville Office

545 S Third Street

Suite 102

Louisville, KY  40202

(502) 584-4142


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As a reminder, you are receiving this email because you are a valued client of Harding, Shymanski & Company, P.S.C.  For more information on our company, please visit our website.



Harding, Shymanski & Company, P.S.C

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