Law Brief: CARES Act Relief for Small Businesses
Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit
Monthly Minute | Financial Relief for COVID-19
WEBINAR: Is the CARES Act Caring Enough?
Nota Bene Episode 84: Organizational Integrity in the Post-Pandemic Enforcement Environment
Nota Bene Episode 83: Fraud Enforcement and Policing COVID Relief: What Businesses Need to Know with Chuck Kreindler
COVID-19: The FFCRA & CARES Act--Update on Loan Programs, Tax Provisions & Employee Leave Provisions
Since April 2020, through the CARES Act, the government has provided billions of dollars in emergency financial assistance to Americans suffering from the economic effects caused by the COVID-19 pandemic, including through...more
The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more
On March 16, the House passed 415-13 H.R. 1799, the PPP Extension Act of 2021. The bill would extend the Paycheck Protection Program (PPP) loan application deadline to May 31 from March 31 and give the Small Business...more
Previously we reported on the various types of loan relief available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27, 2020....more
On Dec. 1, lawmakers released competing COVID-19 relief proposals, restarting negotiations which have been stalled for months. As COVID-19 case rates sharply increase nationwide, several programs enacted under the CARES Act,...more
On November 18, 2020, the IRS issued Revenue Ruling 2020-27 (Ruling), which provided an answer to the question that Paycheck Protection Program (PPP) loan borrowers have been asking for months: can borrowers who received PPP...more
The Paycheck Protection Program closed on August 8. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained PPP...more
While the $525 billion Paycheck Protection Program (PPP), enacted as part of the CARES Act, has undoubtedly helped millions of deserving businesses survive the COVID-19 pandemic, it has also provided a unique opportunity for...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
Under general income tax principles, when a borrower has its indebtedness forgiven, the borrower recognizes income in the forgiven amount. Under the CARES Act, however, Congress made clear that forgiveness of a Paycheck...more
A proposed class action has been filed against Eastman Kodak alleging securities fraud in connection with certain events surrounding the government’s possible $765 million pharmaceutical development loan to Kodak. The...more
With “Twit-tok” trending this weekend, you should be unsurprised to learn that Twitter has joined the group of suitors for TikTok, revealing that it’s held preliminary talks with the video-sharing app about a possible combo. ...more
Despite billions of dollars in funds remaining and available to the Paycheck Protection Program ("PPP") to provide small business loans, Congressional discussions to extend the program stalled last week, and the PPP loan...more
The Federal Reserve took additional actions on April 9 to provide up to $2.3 trillion in loans to support the US economy during the coronavirus (COVID-19) pandemic. This LawFlash covers the new and expanded programs, and...more
The IRS has released Notice 2020-50, which provides guidance to employers that have amended their retirement plans to take advantage of provisions under the CARES Act that provide access to special plan distributions, known...more
On Friday, June 19, 2020, the IRS released Notice 2020-50 which provides additional guidance regarding the coronavirus-related distributions (“CRDs”) and coronavirus-related loans and loan repayment delays (“CR Loan Relief”)...more
The Federal Reserve continues to make major changes to the Main Street Lending Program (the “Program”), a brand-new, multi-facility $600 billion lending program designed to make additional credit available to small and...more
On May 22, 2020 the SBA and Department of the Treasury released the long awaited Interim Final Rule on Forgiveness of Paycheck Protection Program (PPP) Loans and the Interim Final Rule on SBA Loan Review Procedures, following...more
On June 15, 2020, the Federal Reserve launched the highly anticipated Main Street Lending Program by announcing that the program is open for lender registration and encouraged lenders to begin making program loans to small...more
Just as the federal government’s approach to the coronavirus is dynamic and evolving, so are the rules for small business loans made in response to the pandemic. On June 11 and June 12, 2020, the Small Business Administration...more
The CARES Act’s Paycheck Protection Program provides loans targeted to small businesses to help keep their workers employed during the coronavirus (COVID-19) pandemic, and offers loan forgiveness to borrowers maintaining a...more
On June 11, 2020, the Small Business Administration (SBA) released a revised interim final rule to implement changes made by the Paycheck Protection Program (PPP) Flexibility Act. ...more
As the Federal Reserve (the “Fed”) prepares to launch its Main Street Lending Program (the “Main Street Program”), it continues to refine program details and guidance, including based on feedback received from US banks and...more
Outlook for This Week in the Nation’s Capital - The House. The House will meet in a pro forma session at 9 a.m. today, but no votes are scheduled this week....more