News & Analysis as of

Financial Stimulus CARES Act

Manatt, Phelps & Phillips, LLP

The Employee Retention Credit: Reduce Employer Payroll Taxes and Generate Cash

Added to federal tax law by the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and further expanded in 2021, the Employee Retention C redit (ERC) can significantly reduce an employer’s federal employment...more

Bass, Berry & Sims PLC

PPP Enforcement Actions Gather Steam

The Paycheck Protection Program (PPP) was intended to provide a fast influx of assistance to small businesses during the economic shock created by the COVID-19 pandemic. The speed with which loans were distributed to...more

PilieroMazza PLLC

Fraud Allegations Could Bedevil Borrowers in SBA COVID-19 Relief Programs for Many Years

PilieroMazza PLLC on

As everyone who has been tracking the COVID-19 relief programs since 2020 knows, at the outset there was massive confusion about the programs’ requirements as well as fear that funding could run out before businesses with...more

WilmerHale

Weekly COVID-19 Oversight & Enforcement Report - May 2021

WilmerHale on

The Congressional Oversight Commission released its 12th report on April 30. The report focuses on a $700 million loan to trucking company Yellow Corporation (formerly known as YRC Worldwide) under the CARES Act loan program...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses -UPDATED April 2021 #1

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs for Nonprofits - UPDATED March #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

McDermott Will & Emery

Congressional Investigations during the 117th Congress: What to Expect

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Although control and leadership of the US House of Representatives did not change hands as a result of the 2020 elections, President Joe Biden’s victory and the Democrats’ Senate runoff victories in Georgia are already having...more

Hogan Lovells

Coronavirus: The Hill and the Headlines, March 2021 # 19

Hogan Lovells on

In Washington: President Biden on Thursday doubled to 200 million his administration’s goal for the number of COVID-19 vaccination shots to administer in his first 100 days in office. The U.S. is set to reach Biden’s original...more

Hogan Lovells

Coronavirus: The Hill and the Headlines, March 2021 # 15

Hogan Lovells on

In Washington: The Centers for Disease Control and Prevention (CDC) released their new guidance for opening schools.  The new social distancing guidelines say that students attending in-person instruction only need to stay...more

Brownstein Hyatt Farber Schreck

House Passes PPP Extension Act of 2021

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

Gould + Ratner LLP

The Latest COVID-19 Stimulus: Highlights of Key Tax Provisions in the American Rescue Plan Act of 2021

Gould + Ratner LLP on

The American Rescue Plan Act of 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The ARPA...more

Proskauer Rose LLP

A Seat at the Table: Restaurants to Receive Long-Awaited Stimulus Funds under the American Rescue Plan

Proskauer Rose LLP on

[co-author: Perry Laub] The restaurant industry has been among the hardest hit by the COVID-19 pandemic. The National Restaurant Association reported in its 2021 State of the Restaurant Industry that, as of December 1,...more

Brownstein Hyatt Farber Schreck

House to Vote on PPP Extension

With the Paycheck Protection Program (PPP) set to expire on March 31, lawmakers have struck a deal to extend the program for two months through the end of May. Leaders of the House Small Business Committee, Chair Nydia...more

Roetzel & Andress

The American Rescue Plan Act Of 2021

Roetzel & Andress on

Update: President Biden signed The American Rescue Plan Act on March 11, 2021- On Wednesday afternoon, Congress passed The American Rescue Plan Act of 2021, a broad, comprehensive policy response to the challenges brought...more

Amundsen Davis LLC

The American Rescue Plan Act Of 2021: What’s In It For Employers?

Amundsen Davis LLC on

Almost one year after the enactment of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), and with the second extension of pandemic unemployment assistance about to expire for millions of workers on March...more

Hogan Lovells

Congress passes, and the President signs, a sweeping $1.9 trillion COVID-19 relief package

Hogan Lovells on

In his first significant legislative achievement in office, President Biden quickly signed the American Rescue Plan, legislation passed by Congress providing $1.9 trillion in coronavirus relief to Americans and businesses...more

Morgan Lewis

Initial Key Takeaways from the American Rescue Plan Act of 2021

Morgan Lewis on

President Joseph R. Biden signed the American Rescue Plan Act of 2021 on March 11, which provides $1.9 trillion in relief funds across a broad spectrum of categories, including additional support for vaccine distribution,...more

Hogan Lovells

Coronavirus: The Hill and the Headlines, March 2021 # 8

Hogan Lovells on

In Washington: The House on Wednesday passed a sweeping $1.9 trillion COVID-19 relief package in a 220-211 vote. No Republican lawmakers backed the legislation. Just one Democrat, Rep. Jared Golden (ME), opposed it. The White...more

Littler

$1.9 Trillion COVID Relief Package on Track to Become Law

Littler on

On March 6, 2021, the U.S. Senate passed its version of President Biden’s “American Rescue Plan” by a vote of 50-49 (Vice President Kamala Harris was prepared to cast a tie-breaking vote in favor of the bill).  All Senate...more

Shutts & Bowen LLP

COVID-19 Stimulus Relief and the Construction Industry

Shutts & Bowen LLP on

The $908 billion stimulus package (COVID-19 Relief Package 2.0) that was signed into law on December 27, 2020, which was attached to a $1.4 trillion spending bill to fund the federal government through September, was an...more

Hogan Lovells

Coronavirus: The Hill and the Headlines, March 2021 # 3

Hogan Lovells on

In Washington: Senate Democrats have opted to narrow the eligibility to receive an individual stimulus payment as part of the coronavirus relief bill, a Democratic aide confirmed to The Hill. Centrist Democratic senators had...more

Hogan Lovells

Coronavirus: The Hill and the Headlines, February 2021 # 15

Hogan Lovells on

In Washington: The U.S. surpassed 500,000 deaths from COVID-19 on Monday, in a pandemic that has lasted almost a year. The nation’s total virus toll is higher than in any other country globally, and it means that more...more

Bradley Arant Boult Cummings LLP

Alabama Enacts Landmark TCJA Reform/CARES Act Exemptions

On February 12, Gov. Kay Ivey signed into law Act 2021-1, introduced only two weeks before as House Bill 170 (and its counterpart SB 98), and designated three separate acts: (1) the Alabama Taxpayer Stimulus Freedom Act of...more

PilieroMazza PLLC

SBA Takes Steps to Address PPP Validation Error Problems

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On February 10, 2021, the Small Business Administration (SBA) announced new policy changes to the Paycheck Protection Program (PPP) meant to address an ongoing issue loan applicants face regarding validation error codes....more

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