Congress passed the $900 Billion COVID-Related Tax Relief Act of 2020 (“COVIDTRA” or “the Act”) as part of the Consolidated Appropriations Act of 2021, on December 21, 2020. As of this writing, President Donald J. Trump has...more
Additional Paycheck Protection Program Guidance Announced -
The Internal Revenue Service recently issued guidance stating taxpayers may not deduct otherwise deductible expenses that are paid with the proceeds of a Paycheck...more
5/4/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
IRS ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Deductions ,
Tax Planning
On April 21, 2020, the Senate passed a $484 Billion relief package (the Paycheck Protection Program and Health Care Enhancement Act; the “Act”). The House is expected to pass the Act on Thursday. The President has indicated...more
4/22/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Federal Loans ,
Financial Stimulus ,
Legislative Agendas ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA Lending Programs
Earlier we posted Part 1 highlighting certain aspects of the CARES Act (Coronavirus Aid, Relief and Economic Security Act), which the federal government enacted to provide financial relief to individuals and businesses...more
4/10/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
Retirement ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Credits ,
Tax Relief ,
Unemployment Insurance
On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which is intended to provide financial relief to people and businesses in response to the economic...more