On December 27, 2020, following an unexpected delay, President Donald Trump signed stimulus legislation that legislatively overruled the IRS’s position that expenses funded with forgiven Paycheck Protection Program (“PPP”)...more
The Coronavirus Aid, Relief, and Economic Security Act or “CARES Act,” which was enacted on March 27, 2020, contains several tax provisions that are intended to alleviate business cash-flow problems and stimulate the economy....more
3/31/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance
The version of H.R. 748, known as the Coronavirus Aid, Relief, and Economic Security Act or “CARES Act,” that was passed by the U.S. Senate and House contains several tax provisions that are intended to alleviate business...more
3/30/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance
Relief Expanded in Some Areas, Limited in Other Areas -
The Treasury Department has continued to issue guidance regarding the scope of the extension to July 15, 2020 for income tax filings and payments otherwise due on...more
UPDATE - On March 20, 2020, the Treasury Department issued Notice 2020-18, which further clarifies the scope of the 90-day tax extension first announced on March 17, 2020, and which supersedes earlier guidance issued on March...more