Reporting of disbursements of federal funds for COVID relief

July 8, 2020

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Q. As a governmental entity, we will be disbursing federal funds aimed at assisting small businesses with the costs of business interruption caused by required closures. The maximum an individual/entity can receive is no more than $10,000.00. The payments can be for documented expenses and/or for draw downs. Draw downs would be where they would have paid themselves a salary. My question is how this is to be reported if the entity is not a corporation. Would the dollars paid be reported as…

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