Late on January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans”...more
1/15/2021
/ Borrowers ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Eligibility ,
Exclusions ,
Filing Deadlines ,
Loan Applications ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the “Act”). The Act, which includes the COVID-19-related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax...more
1/8/2021
/ CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
IRS ,
Loan Forgiveness ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
Tax Credits ,
Trump Administration
The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “PPP2 Act”) is contained in the Consolidated Appropriations Act, 2021 (“2021 Appropriations Act”), a $900 billion, nearly 5,600-page bill passed...more
1/7/2021
/ Borrowers ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business ,
Tax Credits ,
Trump Administration
The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “PPP2 Act”) is contained in the Consolidated Appropriations Act, 2021 (“2021 Appropriations Act”), a $900 billion, nearly 5,600-page bill passed...more
12/29/2020
/ Borrowers ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
12/29/2020
/ Borrowers ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Loan Applications ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Questionnaires ,
Relief Measures ,
SBA ,
Small Business
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
12/3/2020
/ Asset Transfer ,
Borrowers ,
CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Mergers ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Expenses ,
Popular ,
Questionnaires ,
Relief Measures ,
Required Documentation ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Tax Deferral
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
11/9/2020
/ Asset Transfer ,
Borrowers ,
CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Mergers ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Expenses ,
Popular ,
Questionnaires ,
Relief Measures ,
Required Documentation ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Tax Deferral
Below are the ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020. There are...more
10/12/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Eligibility ,
Executive Compensation ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
Retirement ,
SBA ,
Seasonal Workers ,
Small Business ,
Small Business Loans
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
10/12/2020
/ CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Expenses ,
Relief Measures ,
Required Documentation ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Deferral
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
10/5/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Small Business ,
Time Extensions
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
8/13/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Loan Forgiveness ,
Midsize and Large Business Loans ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
SBA ,
Tax Credits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/8/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Financial Stimulus ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Credits ,
Unemployment Benefits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/1/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Financial Stimulus ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Midsize and Large Business Loans ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
Seasonal Businesses ,
Small Business ,
Small Business Loans ,
Tax Credits ,
Unemployment Benefits
The Small Business Administration (“SBA”) issued another Interim Final Rule (SBA-2020-0038) on June 22, 2020 (“IFR”) clarifying certain issues surrounding the forgiveness of Paycheck Protection Program (“PPP”) loans. For the...more
6/30/2020
/ CARES Act ,
Centers for Disease Control and Prevention (CDC) ,
Construction Industry ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Distribution Rules ,
Energy Sector ,
Healthcare ,
Hospitality Industry ,
Interim Final Rules (IFR) ,
Life Sciences ,
Loan Forgiveness ,
Manufacturers ,
OSHA ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
Retailers ,
Safe Harbors ,
SBA ,
State and Local Government ,
Technology Sector ,
Transportation Industry
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
6/30/2020
/ Airlines ,
Airports ,
Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Aviation Administration (FAA) ,
Federal Reserve ,
Good Faith ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Pandemic Unemployment Emergency Compensation (PUEC) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Ports ,
Public Transit ,
Relief Measures ,
S-Corporation ,
SBA ,
Small Business ,
Small Business Loans ,
Transportation Industry ,
U.S. Treasury ,
WRDA
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
6/30/2020
/ Applications ,
CARES Act ,
Certifications ,
Commercial Tenants ,
Construction Industry ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Reserve ,
Hotels ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Marinas ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Pandemic Unemployment Emergency Compensation (PUEC) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Credits ,
U.S. Treasury
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
6/30/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Economic Injury Disaster Loans ,
Eligibility ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Pandemic Unemployment Compensation (FPUC) ,
Federal Reserve ,
Interim Final Rules (IFR) ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Midsize and Large Business Loans ,
Net Operating Losses ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Credits ,
U.S. Treasury ,
USDA
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”) and the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”) and the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE...more
On April 30, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-32 (the “Notice”) in which it substantially changed the common understanding of the tax consequences of Payroll Protection Program (“PPP”) loan...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”) and the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act is important to certain manufacturers because it offers necessary...more
On March 13, 2020, the Oregon Department of Revenue (“DOR”) added an FAQ and made two announcements regarding the Oregon corporate activity tax (“Oregon CAT”).
First, the DOR’s website added a question to its FAQ section...more