Nearly one year ago, in response to the COVID-19 pandemic and related economic downturn, the Small Business Administration-backed Paycheck Protection Program (PPP) provided loans to help businesses keep their workforce...more
2020 brought the COVID-19 pandemic and other headline-grabbing challenges, along with “the usual” quadrennial questions around the U.S. election. Early in the year, businesses and dealmakers focused on the pandemic and...more
On December 27, 2020, President Trump signed into law the $900 billion stimulus package passed by Congress on December 21. This package contained some much needed tax guidance and support for many employers across the...more
On Dec. 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, an omnibus stimulus and budget act that includes the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (HHSB Act). The...more
On Monday, December 21, Congress enacted a $900 billion stimulus package to support American workers and businesses impacted by COVID-19. This summary provides an overview of the business and tax relief measures contained in...more
In its massive new pandemic relief and stimulus package, Congress has significantly modified the Paycheck Protection Program (PPP) to allow for second draws from the program, to simplify the loan forgiveness process, to...more
Late Sunday night, Congress came to an agreement on a long-awaited second stimulus package. President Trump is expected to sign the highly anticipated $900 billion stimulus package in the coming days. Out of that total...more
It has been more than eight months since the enactment of the CARES Act, yet here we are, with the end of 2020 in sight, and we are still debating whether taxpayers should be allowed to claim a deduction for business expenses...more
Round Two- “Painful social lockdowns in Europe and some American states helped blunt the coronavirus. Now, amid a fitful reopening, the pandemic is once again surging.” So begins an article on the front page of last...more
Senate Republicans have introduced the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act, a nearly one-trillion-dollar stimulus package comprised of a package of bills that includes the Continuing...more
Loan forgiveness is one of the key features of the government’s economic stimulus response to COVID-19. The U.S. Department of Treasury has now issued interim final rules on qualifying for forgiveness under the Paycheck...more