Congress has passed the long-awaited bipartisan stimulus package on December 21, 2020 which is expected to be signed by the President. Included in this package are significant changes to the existing Paycheck Protection...more
On August 8, 2020, President Trump issued an executive action directing the Secretary of the Treasury to use the Secretary’s authority under Section 7508A of the Internal Revenue Code of 1986, as amended (the “Code”), which...more
On May 28, 2020, the Internal Revenue Service released Notice 2020-35, providing additional administrative relief with respect to certain employment taxes, employee benefit plans, exempt organizations, individual retirement...more
With the spate of high-profile companies receiving public backlash after obtaining loan proceeds from the Paycheck Protection Program (PPP), on April 23 the SBA added item #31 (followed by item #37 on April 28) to its...more
The Small Business Administration (SBA) has issued supplemental guidance to clarify that faith-based organizations, including houses of worship, are eligible to receive SBA loans under the Coronavirus Aid, Relief, and...more