January 11: 5 Things You Need to Know this Week

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January 11: 5 Things You Need to Know this Week

January 11, 2021

Digital drawing on NAFOA's virtual conferences

Photo of the Week: In the best interest of the health and safety of our community and Indian Country, NAFOA has decided to hold our 39th Annual Conference virtually this spring on April 26-29, 2021. Scroll down to learn more about the Spring Conference.


1. PROFESSIONAL DEVELOPMENT:

TODAY AT 1PM - "INTRODUCTION TO ECONOMICS - PART 2: EFFICIENCY AND EQUITY" WEBINAR

This series examines how to use economics to be more efficient and equitable in business enterprises. Building on the foundation from our previous "What is Economics" webinar, this presentation will delve deeper into specific components of efficiency and equity using real-time case examples. The webinar’s goal is to help build participants' knowledge base in economics. This introductory course to economics is intended for young professionals in the accounting field, managers and staff members new to the accounting team, and non-financial persons who have some accounting functions in their respective positions.

This introductory series on economics is designed to provide tools for expanding the economic base of Indian Country and setting it on course toward improved stability and greater success.

Join us on Monday, January 11 at 1:00 pm ESTThe webinar is free and open to the public.


2. EVENTS: 

NAFOA VIRTUAL 39TH ANNUAL CONFERENCE

In the best interest of the health and safety of our community and Indian Country, NAFOA has decided to hold our 39th Annual Conference virtually this spring.  NAFOA is excited to bring you our Virtual 39th Annual Conference on April 26-29, 2021.   Even though we won't be in-person, the conference will still bring together tribal, state, federal and industry partners to discuss important economic issues facing Indian Country.   Registration and agenda information will be available in the coming weeks. In the meantime, please save the date for April 26-29, 2021.  



Thanks to the generosity of our Corporate Partners, NAFOA has a number of Sponsored Complimentary Registrations available to tribal members and employees to attend the conference. Please contact VaRene Martin or Dustin VanWinkle for more information.


3. POLICY:

SECOND DRAW PPP LOANS AVAILABLE, GUIDANCE AND INTERIM FINAL RULES ISSUED

On Wednesday, January 6th 2021, the Small Business Administration (SBA) released several updated documents pertaining to the Paycheck Protection Program (PPP) in light of the most recent legislative stimulus package. These documents include updated Guidance on Accessing Capital for Minority, Underserved, Veteran, and Women-Owned Business Concerns as well as an Interim Final Rule on the Paycheck Protection Program as amended by the Economic Aid Act (the most recent stimulus legislation), and an Interim Final Rule on Second Draw Loans.


The initial rounds of the PPP helped aid 51 million American workers with an average loan size of $101,000. This new round of funding will continue to provide American workers with much-needed relief and better target minority and small business concerns. 


Read more in NAFOA's latest broadcast.

4. COVID RELIEF NEWS:

CORONAVIRUS RELIEF FUND IN THE COURTS

On January 5, 2021 the United States Court of Appeals for the District of Columbia Circuit reversed the District Court’s opinion and allowed the Shawnee Tribe’s claim that it was arbitrary and capricious for the Secretary of Treasury’s to disburse the population portion of the Coronavirus Relief Funds based solely on the Indian Housing Block Grant Population Formula to proceed. Read the full opinion here.


On Friday, January 8th, the Supreme Court of the United States agreed to take up the challenges on Coronavirus Relief Fund eligibility for Alaska Native Corporations


5. FOR BUSINESSES:

FORM 1090-NEC AWARENESS DAY

The Tax Exempt and Government Entities Division (TEGE) invites you to join us for a free Zoom awareness meeting on either January 12, 2021 or January 14, 2021.

This meeting is designed to help tribal entities understand the new Form 1099-Non-Employee Compensation (NEC) reporting requirements for the 2020 filing season. Each session is limited to the first 950 participants.

Dates and Times: Several dates and times offered to maximize the reach of the event.

Tuesday January 12th, 2021

Thursday January 14th, 2021