As we have reported, the stimulus bill passed by Congress and signed by President Trump late last year enacted major changes to the popular Paycheck Protection Program (PPP). And this week, consistent with that law’s 10-day...more
1/11/2021
/ Audits ,
Business Expenses ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Loan Forgiveness ,
NAICS ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Property Damage ,
Relief Measures ,
SBA ,
Tax Benefits ,
Worker Protection Standard
Gov. Lee announced yesterday (July 21) that the Financial Stimulus Accountability Group – a bi-partisan group of Tennessee General Assembly members, Lt. Gov. Randy McNally, and Finance and Administration Commissioner Butch...more
For the past several weeks, the Tennessee Legislature has extensively discussed and debated the Tennessee Recovery and Safe Harbor Act. This Act would protect Tennessee businesses, schools, churches, health care providers,...more
Certain employers may be entitled to a tax credit against employment taxes if the operation of the employer’s trade or business is fully or partially suspended during the calendar quarter due to orders of a governmental...more
The Paycheck Protection Program will enable eligible nonprofit organizations that have been adversely affected by the COVID-19 pandemic to obtain funds to cover payroll, rent, interest, and utilities. For further information...more
4/14/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Federal Loans ,
Financial Stimulus ,
Large Employer ,
Nonprofits ,
Payroll Taxes ,
Relief Measures ,
Religious Institutions ,
SBA ,
Small Business ,
Tax Relief
Today, the Department of Health and Human Services (HHS) announced the delivery of the initial $30 billion tranche from the $100 billion provider relief fund established under the Coronavirus Aid, Relief, and Economic...more
4/14/2020
/ Accelerated Payments ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Coronavirus/COVID-19 ,
Health Care Providers ,
Hospitals ,
Medicare ,
Medicare Part A ,
Medicare Part D ,
Physician Medicare Reimbursements ,
Physicians ,
Relief Measures
In response to unprecedented health care demands and economic conditions caused by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted on Friday, March 27, 2020. The Act...more
4/14/2020
/ CARES Act ,
Comment Period ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Financial Stimulus ,
Healthcare Provider Corporations ,
Healthcare Workers ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Relief Measures ,
SBA ,
Small Business ,
Special Purpose Vehicles ,
Term Sheets ,
U.S. Treasury
The CARES Act adds $100 billion to the “Public Health and Social Services Emergency Fund” to reimburse “eligible health care providers” for “health care-related expenses or lost revenues that are attributable to Coronavirus.”...more
4/14/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
Lenders ,
Lending ,
Liquidity ,
Medicaid ,
Medicare ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance
The CARES Act provides $350 billion to the Paycheck Protection Program to allow the Small Business Administration (SBA) to guarantee 100% loans (with interest rates not to exceed 4%) made by local SBA preferred lenders to...more
4/14/2020
/ Affiliated-Business Arrangements ,
Affiliates ,
Board of Directors ,
Business Interruption ,
CARES Act ,
Core Funding Ratio (CFR) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Electronic Records ,
Employee Retention ,
Executive Compensation ,
Federal Loans ,
Financial Stimulus ,
Health Insurance ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Shareholders ,
Shelter-In-Place ,
Small Business ,
Social Distancing ,
Stocks ,
Tax Relief
The CARES Act establishes a $500 billion loan program accessible by cities, states, and businesses, while also providing for more than $250 billion in direct funding to state and local governments. The majority of the direct...more
4/14/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
Lenders ,
Lending ,
Liquidity ,
Medicaid ,
Medicare ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
State and Local Government ,
Tax Relief ,
Unemployment Insurance
On April 9, 2020, the Federal Reserve announced the details of the Main Street Lending Program (the Program), which is a lending program authorized by the CARES Act for purposes of supporting the economy during the COVID-19...more
4/10/2020
/ CARES Act ,
Comment Period ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Financial Stimulus ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Relief Measures ,
SBA ,
Special Purpose Vehicles ,
Term Sheets ,
U.S. Treasury
Late on April 6, 2020, the Department of the Treasury and the Small Business Administration (SBA) jointly issued additional guidance in the form of FAQs addressing key points under the Paycheck Protection Program (Program)....more
4/7/2020
/ Affiliated-Business Arrangements ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Executive Compensation ,
Federal Loans ,
Financial Stimulus ,
Health Insurance ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Shareholders ,
Small Business ,
Stocks ,
Tax Relief
On March 31, 2020, the Treasury Department and Small Business Administration (SBA) released guidance for prospective borrowers and lenders under the Paycheck Protection Program (the “Program”) created by the Coronavirus Aid,...more
On April 1, 2020,—the very day the paid leave requirements in the Families First Coronavirus Response Act became effective—the Department of Labor (DOL) provided much-anticipated regulatory guidance. The DOL did so by...more
Paycheck Protection Program Loans and Medicare Advance Payments -
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was enacted in the wake of the COVID-19 outbreak. The Cares Act provides...more
4/1/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Federal Loans ,
Financial Stimulus ,
Health Care Providers ,
Lenders ,
Medicaid ,
Medicare ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance
Early on March 25, 2020, the Administration and Senate Republican and Democrat leaders reached agreement on key terms of the proposed Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Senate passage is...more
Last evening, Gov. Bill Lee issued Executive Order No. 15 which, among other critical actions, sets forth a number of significant health care-related provisions summarized below for the benefit of our health care...more