The SBA and Treasury Department recently updated their FAQs to indicate how they would assess the applicant’s good faith certification, and to extend the deadline for repayment. Click to learn more.
Additional information and guidance related to the Paycheck Protection Program was recently released. Click to learn more about the additional round of funding allocated for PPP Loans.
Over the past few days both the IRS and Small Business Administration released additional guidance to help taxpayers navigate the current COVID-19 crisis. Click for additional information available for both individuals and businesses.
On April 9, 2020, the IRS released Notice 2020-23, which is an update to Notice 2020-18, Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic. This notice provides additional relief to any relief previously granted.
As part of the CARES Act, the Small Business Administration (SBA) is charged with administering the Payroll Protection Plan (PPP). Click to access the revised loan application and fact sheet for borrowers and lenders.
The CARES Act provides provisions for a new coronavirus related distribution, repayment of distributions, increased loan limits, extended loan repayment periods and waiver of the 10% early distribution penalty. Click to find out more.
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”), a massive $2 trillion piece of legislation intended to address the extraordinary impact of the coronavirus (COVID-19) pandemic.
On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (the “Act”), which is one of many pieces of legislation that will address the various impacts of the COVID-19 pandemic.
Just days after issuing guidance deferring the payment of certain tax obligations but maintaining the April 15 tax filing deadline, the IRS has changed course and announced in Notice 2020-18 that it is indeed extending the April 15 tax filing deadline.
The COVID19 reports by all government authorities state that the key to slowing the spread of the virus is social distancing. We are implementing precautionary measures to promote the safety and health of our personnel.
