The Corporate Transparency Act (CTA) remains on hold due to a nationwide injunction granted by a federal District Court in Texas in Smith v. U.S. Department of the Treasury. However, given pending legal battles and...more
2/18/2025
/ Appeals ,
Corporate Transparency Act ,
Enforcement Actions ,
FinCEN ,
New Legislation ,
Popular ,
Preliminary Injunctions ,
Proposed Legislation ,
Regulatory Requirements ,
Reporting Requirements ,
Small Business
On the evening of December 21, 2020 the House and Senate passed the Consolidated Appropriations Act, 2021 (the “Act”), a 5,593 page bill that funds the federal government for the next fiscal year and provides long anticipated...more
12/23/2020
/ Borrowers ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
IRS ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business ,
Tax Deductions ,
Tax Planning
Today by Interim Rule the Treasury Department and Small Business Administration jointly made it much easier for some Paycheck Protection Program (“PPP”) loan borrowers to get forgiveness for their loans. If the PPP loan...more
As some Paycheck Protection Program loan borrowers approach the close of their eight week covered period (the period during which loan proceeds can be used for certain expenses and the corresponding loan amount can be...more
With a second round of Paycheck Protection Program (“PPP”) funding coming available last week, a large percentage of small businesses either have already received (or will soon receive) the proceeds of a PPP loan. At only one...more
The SBA and Treasury moments ago released updated information on the new Paycheck Protection Program created by the CARES Act. The program is specifically designed to help small businesses (less than 500 employees) keep their...more