In response to the recent outbreak of COVID-19 across the United States and the globe, AMBA's leadership team worked to generate resources for AMBA members. Check back to this page as we make updates.
As states continued to announce statewide “Sheltering in Place” orders that advised all residents to stay home and only leave for “essential activities,” the AMBA identified a growing need to connect members to discuss what constitutes “essential activities” as it pertains to work, as well as other shutdown procedures and policies. Over the last few weeks, AMBA has hosted a few roundtable discussions with members to discuss the changing conditions, best practices and policies and more. To connect members with additional resources, other association partners have also presented on a wide variety of topics related to COVID-19.
Recent webinar topics have included:
To access past webinar recordings, AMBA members can click here.
Tax Implications as a Result of COVID-19
Tuesday, April 7| 1PM EST
Many AMBA members have reached out asking what qualifies as an essential business. Due to the rapidly changing conditions and varying orders by state, AMBA has compiled a comprehensive list by state that we will update as often as possible. For employees commuting on essential business, we've also included a letter for them to use while traveling.
Updated: 4/3/20: DHS Critical Infrastructure
These compilations include a list of policies, procedures, action plans and resources. All the documents included in this compilation have been submitted by members of MAPP (Manufacturers Association for Plastics Processors), AMBA (American Mold Builders Association) and ARPM (Association of Rubber Products Manufacturers). By gathering resources from various manufacturing industries, there is a greater pool of knowledge from which the team was able to pull.
The documents in this compilation have been organized by type, which include:
To accommodate the changing needs of members, two additional compilations are being offered - one includes work from home policies and the other provides policy guides related to how to handle positive employee tests.
It is important to keep in mind that these are all working documents and the benchmarking team will continue to update and add changes and new policies as they are received.
We have also received an "Employee-in-Transit" letter example that can be utilized by essential employees and personalized to your company. View it here.
If you have questions, want to add to this document or need assistance, please contact the office directly at 317.436.3102 or email email@example.com.
The economic impact of the COVID-19 pandemic will likely continue for some time causing uncertainty and volatility in financial marks, disruptions to supplies and distribution chains as well as directly affecting cash flows for many businesses. The pervasive impact of this pandemic also creates accounting and disclosure implications in financial statements for the year ended December 31, 2019 and beyond as we continue to battle the spread of the virus and its aftermath.
To learn more, visit Mueller Prost's resource page here.
The IRS has issued Notice 2020-17 in response to Treasury Secretary Steven Mnuchin's announcement that affected taxpayers owing an aggregate amount up to one million dollars in taxes would be able to defer tax payments, free of interest and penalty, until July 15th. In the case of an individual taxpayer, the same deferral amount applies regardless of filing status. The amount that can be deferred is increased up to $10 million for corporate taxpayers.
The IRS has issued Notice 2020-18 clarifying the announcement from Treasury Secretary Steven Mnuchin earlier Friday that the deadline for filing tax returns would be extended until July 15, 2020. This notice supersedes Notice 2020-17 issued March 19, 2020, which capped the amount of tax due that could be postponed until July 15, 2020.
Additional Forms/Tax Credits
Tax Implications as a Result of COVID-19
Tue. Apr 7 | 1PM - 2PM EST
During this event, the Mueller Prost team will highlight the topics from this past week, but also touch on new updates, including the proposed CARES Act recently signed by the President. Register here.
The SBA has added financial relief for qualifying businesses under their disaster relief program. There are many unknowns, but below are several documents and links that provide additional detail.
In addition to the above resources, The Franklin Partnership has also provided AMBA members with the below resources.
MMT has received an unprecedented number of inquiries about ways they can assist in facilitating sourcing and procurement needs. To make this as simple as possible, MMT has launched its Amerimold Sourcing Assistance Project, which helps facilitate sourcing and procurement needs amongst manufacturers.
The COVID-19 situation is dynamic and fluid, requiring constant attention and appropriate measures for the health and safety of all. Benesch's COVID-19 Task Force is plugged in and reviewing the latest developments to ensure they are taking appropriate steps to help educate and respond to their clients during this time of uncertainty. Access all of their topics here.
Benesch's COVID-19 Task Force is plugged in and reviewing the latest developments to ensure they are taking appropriate steps to help educate and respond to clients in this time of uncertainty.
To help its members during the COVID-19 pandemic, Federated Insurance has put together a variety of resources, which can be accessed via the links below.
In addition to the above resources, AMBA's partners have stepped up during this crisis to offer additional assistance. All are listed below.
For the most up-to-date information on the COVID-19 status, please see: