On Friday, May 28, the Biden administration released its fiscal year (FY) 2022 budget request (“Budget”) and the following accompanying documents.
- Fact Sheet. Six-page summary of various proposals in the Budget.
-...more
On March 16, the House passed 415-13 H.R. 1799, the PPP Extension Act of 2021. The bill would extend the Paycheck Protection Program (PPP) loan application deadline to May 31 from March 31 and give the Small Business...more
3/19/2021
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
With the Paycheck Protection Program (PPP) set to expire on March 31, lawmakers have struck a deal to extend the program for two months through the end of May. Leaders of the House Small Business Committee, Chair Nydia...more
On March 1, the Internal Revenue Service (IRS) issued Notice 2021-20, which provides updated guidance on the Employee Retention Tax Credit (ERTC) as it applies before Jan. 1, 2021. The ERTC was first enacted on March 27,...more
On Dec. 20, 2020, the House and Senate passed H.R. 133, the Consolidated Appropriations Act of 2021 (“CAA”), which includes a significant expansion of the Employee Retention Tax Credit (“ERTC”) through June 30.
The ERTC...more
Last week, the Small Business Administration (SBA) began asking SBA Paycheck Protection Program (PPP) lenders to issue over 50,000 loan necessity questionnaires to borrowers that received $2 million or more in funds from the...more
Congress continues to debate legislative proposals related to the next COVID-19 package, though a final package is not expected until late July. This weekly newsletter outlines the latest developments in Washington, including...more
Last week, House Democrats unveiled and passed the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES) Act, a $3 trillion stimulus package to address the effects of COVID-19 on businesses, state and local...more
On May 12, House Democrats unveiled the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES) Act. Democratic leadership intends to bring the legislation to the floor for a vote on Friday. The bill is the...more
As an increasing number of governors plan to reopen state economies, Congress is under pressure to pass a fourth stimulus package to help businesses and individuals navigate economic recovery. This weekly newsletter outlines...more
On April 2, 2020, the Small Business Administration (SBA) released Interim Final Rules (“Final Rules”) for the Paycheck Protection Program (PPP) — sections 1102 and 1106 of the CARES Act. The Interim Final Rules are different...more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides assistance to small businesses impacted by COVID-19. Congress did not, however, provide a one-size-fits-all solution. Instead, small businesses must...more
4/3/2020
/ Business Opportunities ,
CARES Act ,
Coronavirus/COVID-19 ,
Debt Relief ,
Economic Injury Disaster Loans ,
Employee Benefits ,
Employee Retention ,
Federal Loans ,
Financial Stimulus ,
Liquidity ,
Net Operating Losses ,
Paid Leave ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
Retirement Funds ,
SBA ,
Small Business ,
Tax Credits ,
Tax Deductions ,
Tax Deferral ,
Tax Relief ,
Unemployment Benefits ,
Wage and Hour
On March 25, the Senate approved a $2 trillion stimulus package, the Coronavirus Aid, Relief, and Economic Security Act, to address the economic and health impacts of the COVID-19 pandemic. The bill now moves to the House for...more