On July 4, 2020, President Trump signed a bill that re-opens the application period for Paycheck Protection Program (“PPP”) loans until August 8, 2020. The five-week extension was approved by both houses of Congress last week...more
On the evening of May 15, 2020, the Small Business Administration (“SBA”) and U.S. Treasury Department (“Treasury”) released their highly-anticipated Paycheck Protection Program (“PPP”) loan forgiveness application and...more
A key part of the federal government’s response to the COVID-19 pandemic and its associated economic fallout is the Paycheck Protection Program (“PPP”) loan program administered by the Small Business Administration (“SBA”)....more
The COVID-19 pandemic has presented individuals and businesses with unprecedented challenges. To its credit, the IRS is doing its part to ease these challenges through several taxpayer-friendly initiatives...more
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) earmarks $350 billion to a loan program designed to keep small business workers employed during the COVID-19 pandemic and its associated economic downturn....more
4/8/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Financial Stimulus ,
Lenders ,
Lending ,
Liquidity ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law by President Trump. The CARES Act is the third major piece of legislation in response to the COVID-19 pandemic,...more
In its latest response to the COVID-19 pandemic, the U.S. Treasury Department today announced that the traditional income tax return filing deadline would be moved from April 15th, 2020 to July 15th, 2020....more
3/23/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Federal Taxes ,
Filing Deadlines ,
Filing Requirements ,
Income Taxes ,
IRS ,
Relief Measures ,
Secretary of the Treasury ,
Tax Extensions ,
Tax Returns ,
Time Extensions ,
U.S. Treasury
On Tuesday, Treasury Secretary Steven Mnuchin announced that the federal income tax payment deadline would be extended to July 15th, 2020, for amounts up to $1 million for individual taxpayers and $10 million for corporate...more
From social distancing to cancellation of large gatherings to prohibitions on travel, the COVID-19 pandemic has caused unprecedented disruptions in daily life. Governments are taking steps not only to “flatten the curve” and...more