LUTZ AGRIBUSINESS BLOG
In this webinar, Lutz experts cover future possible tax law changes and related planning opportunities for the ag industry…
President Biden proposed Fiscal Year 2022 (FY2022) budget contains several provisions detrimental to family farms and businesses…
America’s agricultural sector has been facing challenges in workforce availability, climate, technology, among many other issues. With the world…
The Tax Cuts and Jobs Act of 2017 contains numerous provisions that impact the agriculture industry. No provision has created more uncertainty and questions than IRC Section 199A…
In the farm industry, you quickly learn that farming incomes can fluctuate a great deal from year to year. Yields are affected by many elements outside of your control, such as drought, insect infestations…
On May 19th, 2020, the USDA announced the details of the Coronavirus Food Assistance Program (CFAP). The program will provide $16 billion of direct payments…
Curtis Thompson, Lutz Tax Director, was recently featured in the Nebraska Cattleman Magazine, December 2019, Volume 75, Issue 10 on page 42, for an article about 2019 year-end tax reviews relating to the agriculture industry…
Mother Nature can be fickle – some years your yield is plentiful, whereas other years crops can be damaged due to significant drought, insect infestations, floods, fire, etc. Thankfully, there are alternatives…
Those in farming and various other businesses tied to agriculture may experience some changes due to the 2018 farm bill, depending on their specific operation. The formal name for this bill is the…
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Provider relief fund reporting
The Provider Relief Fund (PRF) Reporting Portal opened for Reporting Period 2 on January 1, 2022, and will remain open through March 31, 2022, at 11:59 PM ET. What you need to know:
- Who needs to report? Providers who received more than $10,000 in PRF Payments from July 1, 2020, to December 31, 2020.
- The deadline to use these funds was December 31, 2021.
- HRSA Resources Available to assist with reporting:
- Post-Payment Notice of Reporting Requirements
- Lost Revenues Guide – Reporting Period 2
- What’s New in Reporting Period 2 Fact Sheet
- Reporting Resource Guide – Reporting Period 2
- There is a very comprehensive Reporting Portal User Guide (with many helpful screenshots, definitions, examples, etc.)
- There are also Data Entry Worksheets to assist providers in preparing to report through the portal
- Contact the Provider Support Line at (866) 569-3522
Providers who were required to report in Reporting Period 1, but did not report:
- Providers who received one or more payments exceeding $10,000 between April 10, 2020 - June 30, 2020, were required to Report in Reporting Period 1.
- HRSA states that “You are out of compliance with the PRF Terms and Conditions and must return your Payment Period 1 PRF payment(s) to HRSA.”
- There are additional instructions on the HRSA site for returning payments and other information regarding “non-compliance”
Upcoming Reporting Requirements:
|Period||Payment Received Period||Deadline to Use Funds||Reporting Time Period|
|3||January 1, 2021, to June 30, 2021||6/30/2022||July 1, 2022, to September 30, 2022|
|4||July 1, 2021, to December 31, 2021||12/31/2022||January 1, 2023, to March 31, 2023|
Last Updated: 1/14/2022
NEED HELP WITH PRF REPORTING?
Lutz can help you navigate the PRF reporting process successfully. Contact us today!