Following the enactment of the Paycheck Protection Program Flexibility Act of 2020, the Internal Revenue Service (IRS) updated its frequently asked questions (FAQs) to state that employers whose Paycheck Protection Program...more
On May 7, 2020, the Internal Revenue Service (IRS) and the Department of the Treasury revised their frequently asked questions (FAQs) guidance on the Employee Retention Credit to allow employers that do not pay wages, but...more
It has been said that when something seems too good to be true, it probably is. One recent practical example of this aphorism can be found in the loan forgiveness provisions applicable under the Paycheck Protection Program...more