January 8, 2021
Benefits.gov
The Low Income Housing Energy Assistance Program & More!
Editor's Picks
January 23, 2020
What to Know about Food Stamp Benefits
The Supplemental Nutrition Assistance Program (SNAP), also known as food stamps, is administered by the U.S. Department of Agriculture (USDA) Food and Nutrition Service. SNAP is a supplementary program to help an individual or family in buying nutritious food.Read More
February 20, 2020
Everything You Need to Know About WIC
The Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) provides healthcare and nutrition to low-income pregnant women, breastfeeding women, and children under age five. WIC is a federal government program funded by the U.S. Department of Agriculture.Read More
Get the Latest Small Business News in this Newsletter
The U.S. Small Business Administration, in consultation with the Treasury Department, announced on January 8, that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.
This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.
Learn more
Please join SBA Administrator Jovita Carranza on Monday, January 11 at 1:00 pm ET for a live webinar to announce the launch of Ascent. Ascent is a first-of-its-kind digital online learning platform geared to help women-owned small businesses grow and scale their existing business.
With Ascent, female entrepreneurs will be able to utilize this platform that brings a modern, e-learning experience specifically targeted for women business owners.
Click here to register
Job Alert! SBA is now hiring attorneys, paralegals, credit analysts, loan officers, mortgage underwriters, customer service representatives and other workers to assist with disaster relief efforts. Bilingual skills are a plus.
Apply today
Federal Coronavirus Resources
State, local, and federal agencies are working together to maintain the safety, security, and health of the American people. Check out coronavirus.gov for updates from the White House's COVID-19 Task Force. Go to cdc.gov for detailed information about COVID-19 from the Centers for Disease Control and Prevention. Visit covid-sb.org, the official federal resource website for U.S. small businesses affected by COVID-19.
Learn more about the federal government's response
Virtual Mentoring and Training
Offices around the country may be closed due to the pandemic, but SCORE, Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers and other resource partners are providing free business mentoring and training by phone, email, and video.
Find an SBA resource partner near you
U.S. Small Business Administration
409 3rd St, SW. Washington DC 20416
www.sba.gov
TTB NEWSLETTER | Weekly News January 8, 2021 IN THIS ISSUE Greetings! This week's top news includes a summary of recent Craft Beverage Modernization Act (CBMA) changes, and Janet Scalese’s retirement. SUMMARY OF CBMA PROVISIONS AND RECENT CHANGES In addition to making the Craft Beverage Modernization Act (CBMA) provisions of the Tax Cuts and Jobs Act of 2017 permanent, the recent amendments to the Internal Revenue Code included several notable changes to those provisions, some of which were effective January 1, 2021, and others with 2022 or 2023 effective dates. The temporary CBMA provisions that are now permanent include: Reduced tax rates on beer and distilled spirits, and certain tax credits for wine Adjusted alcohol content for certain still wine tax classes from 14% to 16% alcohol by volume Lower tax rates for certain meads and low alcohol wines Transfers of beer in bond between brewers who are not of the same ownership Key changes made to earlier CBMA provisions include: Transfer in Bond of Non-Bulk Distilled Spirits: Beginning January 1, 2021, the law prohibits the transfer of bottled spirits in bond except: between bonded premises belonging to the same person or members of the same controlled group, if the distilled spirits are transferred in bond from the DSP who distilled or processed the spirits to another DSP for bottling or storage and returned to the transferor for removal, but only if the transferor retained title during the entire period between such distillation, or processing, and removal, or for transfers of spirits for industrial purposes. Single Taxpayer Incorporation of Spirits Processing: Beginning January 1, 2021, entities who process distilled spirits are included in the Single Taxpayer distilled spirits provision. Under that provision, pursuant to rules issued by the Secretary, two or more entities (whether or not under common control) that produce beer, wine, or distilled spirits, or process distilled spirits, under a license, franchise, or other arrangement shall be treated as a single taxpayer. Exclusion of bottling from processing for reduced rate purposes: Effective January 1, 2022, only Distilled Spirits Producers who perform a processing activity other than bottling are entitled to take a CBMA reduced rate on distilled spirits that they process and remove. Entities who only bottle beverage distilled spirits will not be eligible for a reduced tax rate under CBMA on such spirits removed. Imports and Foreign Producer Election. Import Administration: Beginning in 2023, the reduced tax rates and tax credits on beer, wine, and distilled spirits produced outside the United States and imported will be administered by the Treasury Department under a refund system of providing the benefit of assigned reduced rates to importers. Since CBMA was enacted in 2017, U.S. Customs and Border Protection (CBP) has administered the reduced rates and credits on imports including the foreign producers’ assignment of reduced rates and credits to electing importers, and CBP maintains administration over imports subject to CBMA for 2021-2022. See CBP guidance, for example CSMS #45315560 of December 31, 2020. Information requirements for foreign producers: A new provision (26 U.S.C. 6038E) requires a foreign producer that elects to make a reduced rate or credit assignment to provide information about its structure (including controlled group information) in accordance with requirements prescribed by the Secretary. We will issue updated guidance in the near future. In the meantime, if you have questions about CBMA, please contact us. For more information on imported products, please contact U.S. Customs and Border Protection. JANET SCALESE RETIRES; GRACIE JOY ACTING DIRECTOR OF ALFD After 37 years of public service at the Bureau of Alcohol, Tobacco and Firearms (ATF) and TTB, Janet Scalese retired as Director of the Alcohol Labeling and Formulation Division (ALFD) effective January 2nd. Ms. Scalese started her federal career in the early 1980s, making history as ATF's first female chemist. After a six-month tour in the Beverage Alcohol Laboratory, she moved over to the Nonbeverage Products Laboratory, where she served for 30 years – including 12 as the head of that unit. In 2014, Ms. Scalese was selected as the Director, ALFD. Following TTB’s receipt of additional funding to accelerate alcohol beverage label and formula approvals, she led the division in drastically reducing processing times through streamlining, hiring, online system enhancements, and using workforce and workload modeling. Her efforts were recognized by the Department of the Treasury when she was awarded the 2019 Gears in Government Award, which recognizes initiatives that have directly improved mission, service, or stewardship outcomes through the change driving application of technology, improvements in operations, and other innovations. Gracie Joy, Deputy Director, ALFD, will be the acting director until we fill the position permanently. TTB Newsletter Archives >>>  WHEN DISASTER STRIKES TB recognizes that the devastation caused by natural disasters may severely impact the operations of some industry members and taxpayers. If your business was affected by a natural disaster and you have questions about TTB alcohol or tobacco matters, please contact us at 877-882-3277 (toll free), or use the National Revenue Center contact form and select “disaster relief question.” For additional information, see Disaster Relief. WHAT'S POPULAR ON TTB.gov Top TTB.gov pages, Dec. 28, 2020 - Jan. 3, 2021 Permits Online Customer Page Craft Beverage Modernization and Tax Reform Current Tax Rates TTB Updates and Guidance on COVID-19 TTB Newsletter-Standards of Fill Final Rule Published REPORT SUSPECTED ILLEGAL ACTIVITY Submit a Tip Online Learn more about the TTB Tip Line. ABOUT THE NEWSLETTER The TTB Newsletter compiles the top TTB news of the week and other helpful information for the alcohol and tobacco industries we regulate. Please send any questions or comments about the TTB Newsletter to the Office of Industry and State Outreach. Brought to you by TTB.gov. Please visit the homepage of TTB.gov for the most recent news, or visit the Contact Us page if you have any questions |
