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CTA Here to Stay? Federal District Court Rules Corporate Transparency Act Unconstitutional

Although the Corporate Transparency Act (“CTA”) became effective Jan. 1, 2024, in just two short months, its constitutionality was challenged in the U.S. District Court, Northern District of Alabama’s decision issued on March...more

Further Guidelines on PPP Loans

On November 18, 2020, the U.S. Treasury Department and IRS released further guidelines on the tax treatment of expenses paid with funds from PPP loans. After IRS Notice 2020-32 (released in April 2020) provided that no...more

PPP Loans – New Necessity Questionnaire

The Small Business Administration (“SBA”) has quietly rolled out new forms for Borrowers who received PPP loans in excess of $2 million. The SBA issued a notice in the Federal Register seeking approval of Forms 3509 and 3510...more

New Legislation Eases “PPP” Loan Forgiveness Restrictions

On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”). As the name suggests, the Flexibility Act provides PPP loan borrowers (“Borrowers”) with...more

PPP Loans and Forgiveness:  FAQ

With the SBA finally releasing forgiveness guidance and an application for Borrowers to apply for forgiveness, many questions remain unanswered about how the SBA intends to evaluate and treat loan forgiveness. The below FAQ...more

JUST RELEASED: New Guidance on SBA Certification and Safe Harbor

The vast majority of Borrower’s under the SBA’s Paycheck Protection Program (the “PPP”) may breathe a little bit easier today, as the SBA has finally issued guidance surrounding the “good faith” certification Borrowers had to...more

Non-deductibility of Expenses Incurred in Connection with PPP Loan Forgiveness

The good news for PPP borrowers is that there is no cancellation of indebtedness taxable income generated by the forgiveness of any of the PPP loan.  The not-so-good news is that on April 30, the IRS issued Notice 2020-32,...more

SBA Issues Paycheck Protection Program Guidance for Individuals with Self-Employment Income

On April 16, 2020, the US Small Business Administration (the “SBA”) announced that the $349 billion allocated to the Paycheck Protection Program (the “PPP”) for COVID-19 crisis loans to certain self-employed individuals and...more

CARES Act: Financial Relief For Nonprofit Organizations

As employers continue to navigate the uncertainty of COVID-19’s financial impact on their organizations, many eligible business owners are taking advantage of emergency loan opportunities made available by the Coronavirus...more

Federal Reserve Bank Relief: Loan Facilities Overview

On Thursday, April 9th, the Department of Treasury finalized plans to provide several layers of credit in response to the ongoing COVID-19 market disruptions. ...more

SBA Issues Additional Guidance for Paycheck Protection Program

As businesses across the country continue to determine whether to apply for an SBA loan under the “Paycheck Protection Program” (the “PPP”) provided by the Coronavirus Aid, Relief, and Economic Security Act (the “Act”), the...more

CARES Act: Additional Tax Related Relief

With guidance from the Small Business Administration (“SBA”) and the Internal Revenue Service (“IRS”) still forthcoming, and the existing guidance changing, many businesses are struggling to understand their options under the...more

CARES Act: Additional Tax Related Relief

With guidance from the Small Business Administration (“SBA”) and the Internal Revenue Service (“IRS”) still forthcoming, and the existing guidance changing, many businesses are struggling to understand their options under the...more

Cares Act: Paycheck Protection Loans Summary

With uncertainty looming in all corners of the world due to the continued COVID-19 pandemic, many employers are questioning how they can support the fixed costs of their business, especially in the face of total or partial...more

Using SBA Loans for Business Acquisitions

Loans guaranteed by the Small Business Administration (“SBA”) can be a valuable tool for buyers interested in acquiring businesses that do not have sufficient hard assets to meet the collateral requirements of traditional...more

8/30/2017  /  Acquisitions , Loans , SBA , Small Business

Department of Education Cash Management Regulations To Become Effective

Final regulations promulgated last year by the United States Department of Education (the “Department”) become effective July 1, 2016. The Department stated that the purpose of the regulations is “to address recent changes in...more

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