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CARES Act Trump Administration Tax Credits

McDermott Will & Emery

“Big, Beautiful Bill”: Federal Tax Bill Would Restrict the Employee Retention Credit

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A sweeping federal tax bill that is currently under consideration in the US House of Representatives contains provisions that would significantly change the administration and enforcement of the Employee Retention Credit...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Husch Blackwell LLP

Consolidated Appropriations Act: Important Changes To The Employee Retention Credit

Husch Blackwell LLP on

The CARES Act created a refundable “employee retention credit” as incentive for employers to retain their employees during the 2020 pandemic. Specifically, employers received a credit against their share of the Social...more

McDermott Will & Emery

COVID-19 Stimulus Package Significantly Expands CARES Act Employee Retention Tax Credits

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The Consolidated Appropriations Act, 2021, which became law on December 27, 2020, makes significant changes to the employee retention tax credits available under the Coronavirus Aid, Relief and Economic Security Act (the...more

Schwabe, Williamson & Wyatt PC

Consolidated Appropriations Act, 2021: Tax Update

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

Bradley Arant Boult Cummings LLP

How to Provide Employees $26,250 in Nontaxable Student Loan Repayment Assistance

The Taxpayer Certainty and Disaster Tax Relief Act, recently passed as part of the “Consolidated Appropriations Act, 2021,” has significantly extended the tax exclusions for employer-paid student loan repayment assistance...more

Schwabe, Williamson & Wyatt PC

Highlights of PPP Loan Items in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act and 2021 Consolidated...

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

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #7

Below are 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, ‎as well as...more

Wilson Sonsini Goodrich & Rosati

New Legislation Updates COVID-19-Related Tax Benefits and Credits

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (the Act), which updates several previously enacted tax benefits and credits passed in response to COVID-19. In a much-anticipated change,...more

Bass, Berry & Sims PLC

COVID-19 Relief Bill – Extends Paycheck Protection Program and Creates Second Draw Loan Program

Bass, Berry & Sims PLC on

On December 21, the United States Congress passed the Consolidated Appropriations Act, 2021, to fund annual appropriations and, through its “Additional Coronavirus Response and Relief” provisions, to supply a second round of...more

Perkins Coie

Summary of Certain Business Tax Provisions in the Consolidated Appropriations Act, 2021

Perkins Coie on

After much political gridlock, Congress passed an omnibus government-spending bill (Appropriations Act), which includes another COVID-19 relief package. The Appropriations Act contains many tax-related provisions. Some of the...more

Amundsen Davis LLC

COVID-19 Relief Bill: FFCRA Leave Mandate Not Extended; Tax Credits Available For Voluntary Leave

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A $900 billion COVID-19 relief bill passed by Congress late last night is expected to be signed into law by President Trump later today. In addition to an assortment of aid for individuals and businesses, the bill extends...more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – August 2020 #10

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In Washington - The media continues to highlight the woes of the U.S. Postal Service (USPS) and the Trump administration moves to reorganize the independent agency during pandemic and upcoming elections. President Trump's...more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – July 2020 #13

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In Washington - Congress returns from recess sprinting to get several must-pass bills, including another coronavirus relief package, passed before they head out for the August recess and don’t return until 8 September....more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – July 2020 #12

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In Washington - President Trump is demanding that Congress include a payroll tax cut as part of the next coronavirus stimulus package. The proposal has failed repeatedly to gain traction among both Democrats and...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Technology Industry - Update #2

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

Moore & Van Allen PLLC

Forgiveness is Divine: Insight for PPP Borrowers to Maximize Loan Forgiveness - Update

Moore & Van Allen PLLC on

(April 30,2020; Updated May 8, 2020 and June 10, 2020 to Reflect FAQ #40 and Forgiveness Application, Interim Final Rule on Forgiveness and PPP Flexibility Act, respectively) As businesses that have received funds...more

UB Greensfelder LLP

The CARES Act Update – PPP Flexibility Act of 2020

UB Greensfelder LLP on

Late last week Congress approved and the President signed the Paycheck Protection Program Flexibility Act of 2020 (“Flexibility Act”). This new bill attempts to address some of the more troubling requirements when applying...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Manufacturing, Distribution and Retail Industry - Update #3

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

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Agricultural Industry - Update #1

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

Foley Hoag LLP

Paycheck Protection Program Flexibility Act – Updates to the PPP

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On June 5, 2020, the President signed the Paycheck Protection Flexibility Act of 2020 (the “Act”), which modifies certain provisions of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) enacted on March...more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – June 2020 #3

Hogan Lovells on

In Washington - Senate lawmakers are now saying they won’t pass another coronavirus relief package before the August recess. Previously, members said they were aiming to have something finalized for the 4 July recess but...more

Foley & Lardner LLP

Employers Who Inadvertently Violated the FFCRA Have a Short Reprieve – Until April 17

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With the Families First Coronavirus Response Act (“the Act”) a reality, covered employers should remember and take refuge in the DOL’s March 24, 2020, announcement that it will not bring legal action against employers that...more

Coblentz Patch Duffy & Bass

CARES Act: What Companies and Taxpayers Need to Know

On March 27, 2020, Congress approved and the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748). In addition to the Families First Coronavirus Response Act (FFCRA) upon which we...more

Foster Garvey PC

The Cavalry Has Arrived – Congress Passed and President Trump Signed Into Law the CARES Act

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A Succinct Summary of the Key Tax Provisions - On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (colloquially, the “CARES Act” or the “Act”). The CARES Act is a...more

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