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Relief Measures Tax Exempt Entities

Farella Braun + Martel LLP

REFRESH Nonprofit Basics: Setting up a New Charity for Disaster Relief

Welcome to EO Radio Show - Your Nonprofit Legal Resource. I'm Cynthia Rowland, and this episode is a “refresh” of Episode 10. It provides a checklist of considerations when organizing a new charity to provide relief in the...more

Goodwin

The Consolidated Appropriations Act Of 2021: An Update For Tax-Exempt Organizations

Goodwin on

On December 27, 2020, “The Consolidated Appropriations Act of 2021” (H.R. 133) (the “CAA”) was signed into law by the President. The CAA includes various updates to, and additional funding for, programs established under the...more

Genova Burns LLC

Paycheck Protection Program: More Clarifying Rules, Second Draws and a New Application Form

Genova Burns LLC on

On January 6, 2021, the Small Business Association ("SBA") and the Treasury Department released interim final rules for the Paycheck Protection Program (“PPP”) Second Draw Program, which was created as part of the stimulus...more

Lowndes

Nonprofits Now Eligible for Paycheck Protection Program Under The Consolidated Appropriations Act, 2021

Lowndes on

The Consolidated Appropriations Act, 2021 (the “Act”), which was recently signed into law by President Donald Trump, provides, that for the first time, Section 501(c)(6) not-for-profit organizations will be eligible to...more

Morgan Lewis

Federal Reserve’s Main Street Lending Program Throws Lifeline to Nonprofits

Morgan Lewis on

Nonprofit organizations are on the front lines in the battle against the coronavirus (COVID-19), but they also number among the many victims of COVID-19’s devastating financial impact. In response, the Federal Reserve...more

Troutman Pepper Locke

CARES Act Provider Relief Fund: July 2020 Update

Troutman Pepper Locke on

Since April 2020, many health care providers have received payments from the CARES Act Provider Relief Fund (PRF) in the form of general or targeted distributions. Many providers have questions about receiving and using these...more

Hinshaw & Culbertson LLP

Main Street Lending Program Expanded for Nonprofit Organizations

The Main Street Lending Program has been modified by the Federal Reserve Board (Board) to provide new access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations....more

Gould + Ratner LLP

Main Street Lending Program Now Provides Opportunities for Nonprofits

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Nearly three months after its initial announcement, on June 15, 2020, the Federal Reserve launched its Main Street Lending Program (MSLP), offering additional support for small and mid-size businesses struggling as a result...more

Goodwin

Paycheck Protection Program Legal Update for Tax-Exempt Organizations

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CURRENT STATUS - On April 24, 2020, President Trump signed the Paycheck Protection Program and Healthcare Enhancement Act (PPP Enhancement Act), adding an additional $310 billion to the previously exhausted $349 billion in...more

Goodwin

Paycheck Protection Program Legal Update for Tax-Exempt Organizations

Goodwin on

On April 24, 2020, President Trump signed the Paycheck Protection Program and Healthcare Enhancement Act (PPP Enhancement Act), adding an additional $310 billion to the previously exhausted $349 billion in funds allotted for...more

Pullman & Comley, LLC

Nonstock Corporations Alert: Remote Membership Meetings Permitted

Pullman & Comley, LLC on

On March 21, 2020, Governor Lamont’s Executive Order 7I authorized Connecticut corporations to hold remote shareholder meetings to avoid the risks of gathering shareholders in person during the COVID-19 pandemic....more

BCLP

Treasury, IRS issue final regulations providing relief for certain tax-exempt organizations

BCLP on

The Department of the Treasury and the Internal Revenue Service today issued final regulations clarifying the reporting requirements generally applicable to tax-exempt organizations. The final regulations reflect statutory...more

Goodwin

What Tax-Exempt Organizations Need to Know About the CARES Act

Goodwin on

On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by the President. The CARES Act includes several provisions that may be beneficial to tax-exempt organizations, including...more

Nutter McClennen & Fish LLP

SBA Clarifies that Houses of Worship and Other Faith-Based Organizations Are Eligible for Loan Programs and May Be Eligible for...

The Small Business Administration (SBA) has issued supplemental guidance to clarify that faith-based organizations, including houses of worship, are eligible to receive SBA loans under the Coronavirus Aid, Relief, and...more

Goulston & Storrs PC

Massachusetts Nonprofit Corporate Governance – Emergency Powers

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Massachusetts General Laws Chapter 180, the Massachusetts corporate statute governing nonprofits, does not currently provide for emergency powers included in many of the model nonprofit acts adopted in other states....more

Troutman Pepper Locke

Paycheck Protection Program: Are You Feeling Small and Left Out? There May be an Answer for You

Troutman Pepper Locke on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) created a new program within the U.S. Small Business Administration’s (SBA’s) flagship 7(a) Loan Program called the “Paycheck Protection Program” (PPP). Under...more

BakerHostetler

CARES Act Relief Summary for Nonprofits

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In the wake of the novel coronavirus disease outbreak, more formally known as COVID-19, businesses and other entities have found it increasingly difficult to continue operating in an uncertain environment. Nonprofits in...more

Pullman & Comley, LLC

Economic Relief is on its Way Following COVID-19 Damage

Pullman & Comley, LLC on

On March 25, 2020, the United States Senate unanimously passed (96-0) the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), commonly known as “Phase Three” of coronavirus economic relief. ...more

Holland & Knight LLP

Nonprofits and the CARES Act: A Closer Look

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President Donald Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) on March 27, 2020, providing $2.2 trillion of emergency appropriations in response to the COVID-19 pandemic. While...more

Cooley LLP

Alert: SBA Programs Under the CARES Act: Are You Eligible for Federal Assistance?

Cooley LLP on

As has been well publicized, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is a $2 trillion economic relief package enacted to help individuals and businesses in the United States weather the severe...more

Fox Rothschild LLP

CARES Act: A Comparison Of SBA Loan Programs For Small Businesses

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With Coronavirus Aid, Relief and Economic Security Act (CARES Act) now law, the following is intended to be helpful summary for small businesses evaluating which Small Business Administration (SBA) loan program – the Economic...more

Seyfarth Shaw LLP

IRS Provides Additional COVID-19 Relief: Plan Adoption Deadlines Extended

Seyfarth Shaw LLP on

Seyfarth Synopsis: Several deadlines established by the IRS to adopt amendments or restatements to employer-sponsored retirement plans, and in this instance specifically, to 403(b) plans maintained by tax-exempt entities and...more

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