On December 27, 2020, the Consolidated Appropriations Act, 2021 ("CAA" or the "Act") was signed into law. The 2,100+page CAA is made up of 32 Divisions. The significant business and individual taxpayer related provisions are...more
1/26/2021
/ CARES Act ,
Consolidated Appropriations Act (CAA) ,
Economic Aid Act ,
Economic Injury Disaster Loans ,
Employee Retention ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Income Taxes ,
IRS ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Retirement Plan Providers ,
Tax Deductions
The U.S. Treasury recently issued additional guidance in the form of frequently asked questions regarding the Paycheck Protection Program (PPP) created by the Coronavirus Aid, Relief, and Economic Security Act. The guidance...more
Congress recently extended the deadline by which businesses may apply for loans under the Paycheck Protection Program (PPP) from June 30 to August 8, 2020. The measure is expected to be signed by President Trump. For...more
As we previously predicted, the Small Business Administration (SBA) recently released a new loan forgiveness application and related instructions for those borrowers seeking forgiveness of Paycheck Protection Program (PPP)...more
On Friday, June 5, 2020, bipartisan legislation aimed at addressing many of the issues and difficulties that have arisen with respect to the loan forgiveness provisions of the Paycheck Protection Program (PPP) became law. The...more
The Small Business Administration and the Treasury Department have finally issued an application and instructions for borrowers seeking forgiveness of all or a portion of their Paycheck Protection Program (PPP) loans. As...more
Over the last several weeks, Sullivan has issued numerous client alerts that explore the Paycheck Protection Program (PPP) instituted under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and other funding...more
Sullivan recently issued a client alert that explores the law and lore of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). Additional details regarding the Paycheck Protection Program ("PPP")...more