LUTZ MANUFACTURING AND DISTRIBUTION BLOG

5 Tax Tips for Manufacturers

5 Tax Tips for Manufacturers

The manufacturing industry creates millions of jobs for the citizens and pays billions of dollars in taxes to the government. In return, the IRS rewards manufacturers with numerous tax benefits…

2019 Manufacturing Outlook Survey Results

2019 Manufacturing Outlook Survey Results

This year’s survey report contains the expectations and opinions of more than 350 manufacturing executives who produce a wide variety of products including industrial/machining, transportation/automotive…

How Would a Robotics Tax Affect Manufacturing Businesses?

How Would a Robotics Tax Affect Manufacturing Businesses?

These days, manufacturing businesses of all sizes and scopes utilize robots in a variety of ways. Doing so helps these companies save time and money and ultimately improve their bottom lines. However, are there underlying issues with the robotics “revolution” that could lead to potential future taxes?

Using Financial Ratios to Drive Manufacturing Efficiency

Using Financial Ratios to Drive Manufacturing Efficiency

The goal of every manufacturer is to increase revenue by improving production efficiency. However, many manufacturers fail to take financial analytics into consideration. For instance, how efficient is your cash use? Are you using applying profitability ratios to help prioritize your inventory and production?..

Additive Manufacturing Has Many Tax and Accounting Implications

Additive Manufacturing Has Many Tax and Accounting Implications

Many businesses and firms think 3D printing is too expensive to integrate into their operations. Yet today, there are many reasonably priced, consumer-grade 3D printers available, and the applications for this additive manufacturing process are seemingly endless…

2018 Manufacturing Outlook Survey Results

2018 Manufacturing Outlook Survey Results

For 2018, manufacturers expressed significant optimism for their businesses, the industry, and the economy. The political focus on manufacturing and movement on tax reform, reduced regulations, and improvements to healthcare undoubtedly provide…

2017 Manufacturing Outlook and Insights

2017 Manufacturing Outlook and Insights

Lutz, an accounting and business solutions firm, recently released the results from the 2017 Leading Edge Alliance (LEA Global) National Manufacturing Outlook Survey. With more than 250 participants, this survey report contains the expectations and opinions of manufacturing…

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PROVIDER RELIEF FUND REPORTING

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:

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

 

If you have any questions, please contact Paul Baumert, Julianne Kipple or Lauren Duren, or call us at 402-496-8800.

 

Last Updated: 1/14/2022

 

NEED HELP WITH PRF REPORTING?

Lutz can help you navigate the PRF reporting process successfully. Contact us today!

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