Compelled by the desperate times, the U.S. government has enacted by statute and dictated by other means many relief provisions aimed at propping up the economy and providing specific reliefs for the many millions of ...
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On April 9, 2020, the Federal Reserve System (the “Fed”) announced that is creating or expanding nine lending program to provide up to $2.3 trillion in loans. Congress and the Department of Treasury have made ...
In the afternoon of April 9, 2020, the IRS issued Notice 2020-23. In this notice, the IRS extends many more tax deadlines to cover a wide array of tax return filers, forms, payments, and actions. ...
Last night (Monday, April 6, 2020), the U.S Treasury and the Small Business Administration (“SBA”) released 18 answers to frequently asked questions (“FAQs”) about Paycheck Protection Program (“PPP”) loans. The PPP is an important part ...
Texas Franchise The Texas Comptroller of Public Accounts announced that the office will be automatically extending the due date for 2020 Texas franchise tax reports to July 15, 2020, to be consistent with the Internal ...
Chaos. Fog of war. Ready, fire, aim. These words aptly describe the current state of the emergency financial relief efforts targeted at small-to-medium sized businesses (and certain not-for-profits) provided by the Paycheck Protection Program (“PPP”), ...
Addressing the Paycheck Protection Program (PPP) of the CARES Act — Many Changes and Clarifications from Prior Guidance. More Questions, Too. If you are anticipating applying for a PPP Loan, you need to understand these ...
The Coronavirus Aid and Economic Security Act (CARES Act) and the Families First Coronavirus Response Act (FFCRA) provides financial assistance and relief options for individuals and small businesses that have been impacted by the coronavirus ...
Tax Credits Employee Retention Credit (CARES Act) The Employee Retention Credit supports employers that have experienced fully or partially suspended operations as a result of a government order limiting commerce, travel, or group meetings or ...
Yesterday evening (March 31, 2020), the Small Business Administration released the Paycheck Protection Program (“PPP”) loan application form and information sheets for borrowers and for lenders. We include below a link to each of these ...
The Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 was signed into law by the President on March 6, 2020. It provided emergency funding for federal agencies to respond to the coronavirus outbreak, enabling the ...
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was enacted March 27, 2020. Section 1102 of Title 1 of that Act establishes the Payroll Protection Program (“PPP”), which is an emergency lending facility administered ...
