RESOURCES
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Updated 3:30 p.m. CT, May 28, 2020
Wisconsin
Rental Assistance Program
Gov. Tony Evers
launched a $25 million Wisconsin Rental Assistance Program for Wisconsinites
who have experienced income loss as a result of the COVID-19 pandemic.
Administered by the Department of Administration (DOA), the Wisconsin Rental
Assistance Program will provide direct financial assistance for owed rent,
security deposits, and wrap around services for those who are eligible.
Eligible applicants must be an adult Wisconsin resident with a household income
at or below 80% of the county median income in the month of or prior to the
application date. For example, between 2014 and 2018, the median household
income in Dane County was $70,541, according to the U.S. Census Bureau, with
80% of that being $56,433. Once approved, eligible individuals may receive
assistance of up to $3,000 in a combination of rental payments and/or security
deposits. These payments will be paid directly to the landlord on behalf of the
tenant.
Watch for more details in the future about the Wisconsin Rental Assistance Program, including complete eligibility
criteria, application documentation requirements, and the distribution process
for the rental assistance. Initial details
regarding the program are available at "We're All
In" - DOA Grants: https://doa.wi.gov/Pages/LocalGovtsGrants/COVID-Grants.aspx
and the agencies where individuals should apply are listed at https://doa.wi.gov/Secretary/WRAP-CAPContacts.pdf.
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Updated 2:00 p.m. CT, April 27, 2020
WRA FAQ Document on Pandemic Unemployment Assistance (PUA)
The April 23 Legal Update Live webcast, titled "Unemployment for REALTORS® Under the CARES Act," featured Wisconsin Department of Workforce Development (DWD) Secretary Caleb Frostman, who reviewed how REALTORS® can qualify for unemployment
under the new federal CARES Act. Questions asked during the presentation have been answered by the WRA legal team based on Secretary Frostman’s presentation and are available in this downloadable FAQ document.
Download the FAQ Document
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Updated 11:30 a.m. CT, April 22, 2020
NAR How to Secure Your Business Through the CARES Act
Hear directly from quick-acting REALTORS®, with businesses of varying structure and size, who successfully obtained Paycheck Protection Program (PPP) Business Loans or Economic Injury Disaster Loans (EIDL). Learn how to navigate the Small Business
Administration website, which forms to have on-hand when applying, and tips for finding a lender in your area. Do not wait -- funding is limited.
Watch video
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Updated 11:30 a.m. CT, April 22, 2020
Criteria to Determine Eligibility for the PUA Program
Keywords: PUA
The Wisconsin Department of Workforce Development (DWD) recently released a one-page infographic detailing the eligibility requirements for Pandemic Unemployment Assistance (PUA) applicants.
See Eligibility Infographic
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Updated 2:00 p.m. CT, April 20, 2020
SBA CARES Act FAQs (New Federal CARES Act)
Keywords: SBA, PPP, EIDL, PUA
NAR’s federal advocacy team has been working closely with Congress and the administration to ensure the interests of REALTORS® and their clients are protected in any federal action in response to COVID-19. Many REALTORS® are small
businesses or work with them as clients. In the most recent relief package passed into law, the "Coronavirus Aid, Relief, and Economic Security Act" or CARES Act, there were significant provisions aimed at assisting small businesses during this difficult
time. The CARES Act appropriates more than $360 billion total for new Small Business Administration (SBA) programs - the 7(a) Paycheck Protection Program (PPP) loans and the Economic Injury Disaster Loans (EIDL) advance grants program.
NAR's website provides several Q&As to address frequent questions about who is eligible and how to apply for these brand new programs created by the administration.
CARES Act FAQs
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Updated 4:05 p.m. CT, April 11, 2020
Information on the Economic Injury Disaster Loan (EIDL) with the Small Business Administration
In response to the coronavirus pandemic, small business owners in all U.S. states, Washington, D.C., and territories are eligible to apply for an Economic Injury Disaster Loan (EIDL) advance of up to $10,000. This advance will provide economic relief
to businesses currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid.
Additional information is available on the Small Business Administration website:
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Updated 4:05 p.m. CT, April 11, 2020
Information on the Paycheck Protection Program (PPP) Loan
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The Small Business Administration (SBA) will forgive loans if all employees are kept on the payroll for eight weeks
and the money is used for payroll, rent, mortgage interest or utilities. Applicants can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution
that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. Interested applicants should consult with their local lender as to whether it is participating in the program.
View more
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Updated 12:30 p.m. CT, April 10, 2020
FAQs Regarding IRS Relief and Filing Deadlines
The IRS recently extended the tax deadline from the original April 15, 2020, deadline to July 15, 2020. Individuals working in real estate may have questions regarding this extension and how the new deadline affects 1031 like-kind exchanges or opportunity
funds. This PDF outlines Q&As that provide more details about the deadline.
Download the PDF
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Updated 3:00 p.m. CT, April 3, 2020
WRA FAQ Document Regarding CARES Act and Related COVID-19 Initiatives
The WRA Legal Hotline has received several inquiries regarding unemployment claims amid the coronavirus pandemic. As a response to WRA member questions, and to further provide clarification, the WRA legal team developed a document titled "The Federal
CARES Act and Related COVID-19 Initiatives FAQs." This document details hotline discussions related to the Paycheck Protection Program (PPP) forgivable loans, Economic Injury Disaster Loans (EIDL) and Grants, the Pandemic Unemployment Assistance Program,
and the Families First Coronavirus Response Act.
Download the Information Document