NEWS

New guidance from the IRS under the CARES Act provides tax relief for businesses claiming net operating losses in prior years and gives businesses an extra six months to file net operating loss forms.

See more updates to laws and regulations specific to the COVID-19 pandemic that affect our industry and businesses.

Official Photo © D. Myles Cullen

The $6.1 trillion federal assistance program to address the pandemic includes aid for businesses and individuals. Watch the video by a floor covering expert about how to prepare to return to business and read the answers to common questions about coronavirus small business loans and additional lending programs.

Industry associations, the media, and governments are providing information and tools to help navigate through the pandemic. See the latest guides and more from the U.S. Chamber of Commerce.

The NWFA announced the details of its first-ever virtual wood flooring expo, which will be free to attend. See the updated list of changes to industry events, including the fall dates for the Decorative Hardwoods Association's 99th Annual Meeting.

Experts predict that U.S. GDP will drop by 8% this year, with considerable uncertainty in 2021. Expect housing starts to fall, tree planting to be curtailed, and global trade in wood products to decline. Home remodeling, however, may actually increase in some months in both 2020 and 2021. Follow the link below for additional updates, news, and market information.

The interactive map by Johns Hopkins University is continuously updated to track the spread of the coronavirus in the U.S. and across the globe.

Hillcrest Cabinets is using its 3D printer to make face shields. Urban Plough Furniture has started building intubation boxes for healthcare workers. Steelcase, Herman Miller, and Stylex Furniture are all making face masks. Best Damn Doors in Canada is making anti-virus protective gear.

MasterBrand Cabinets shut down its facility in Talladega, AL, after three employees tested positive for COVID-19. The company has suspended operations at the plant for two weeks, consistent with CDC guidelines.

The experts at Capital Testing (formerly HPVA Laboratories®) have upgraded both the vertical flammability chamber and horizontal flammability chamber to expand fire testing capabilities. This allows fire testing of textiles and opens the door to qualify for Federal Aviation Administration fire safety testing.

In the first revision of the Forest Law in more than 20 years, China now prohibits trade in illegal logs. The question is enforcement. According to investigators at Global Witness: As of 2019, 80% of China's timber trade came from ten countries who have weak governance and accountability indicators relating to trade in illegal timber.

The Indonesian government has declared that wood exports no longer need to comply with the stringent legality checks - that took more than 10 years to put in place - and that timber companies no longer have to obtain export licenses to certify that wood comes from legal sources. Environmental experts expect a resurgence of illegal logging in the country. 

Some forests are shrinking due to deforestation. In large areas of Europe, however, there has been a boom. Today, more than 45% of Europe is tree-covered. Between 1990 and 2015, the area covered by forests increased by an area the size of Portugal. In the UK, woodlands have increased from 4.7% of the country in 1905 to 13.1% in 2019.

Source: BBC

Researchers in the U.S., Europe, and China are planting "sentinel trees" from their own countries in distant nations as a means of observing insect attacks. The findings should help authorities respond faster to combat the danger posed by invasive pests if the insects appear in the sentinel trees' native countries.

Less than halfway through the two-year budget cycle, the Oregon Department of Forestry has blown through most of its money. Officials state that money will run out by May and that they need an additional $52 million to $132 million.

The Thompson Exhibition Building, a museum in Stonington, CT, shows a beautiful use of wood inside and out.