PODCAST: Williams Mullen's Gavels & Gowns - Responding to Borrower Defense to Repayment Applications
Consumer Finance Monitor Podcast Episode: The U.S. Supreme Court’s Decision Invalidating the Biden Administration’s Student Loan Forgiveness Plan and its Potential Legal Repercussions
Consumer Finance Monitor Podcast Episode: SCOTUS Hears Oral Argument in Cases Challenging Biden Administration Student Loan Forgiveness Plan: Observations and Predictions
Two Federal Courts Deal Blow to Biden Administration’s Federal Student Loan Forgiveness Program: A Close Look at the Decisions
Law School Toolbox Podcast Episode 361: Student Loan Repayment (w/Derek Brainard of AccessLex Institute)
A Deep Dive into the Debate Over Federal Student Loan Forgiveness
Applying for PPP Loan Before March 31st Deadline
Paycheck Protection Program – Common Questions and Updated Guidance
COVID-19 Relief in 2021: What Small Businesses Need to Know
PPP Loan Recipients at Risk: Part Three
When Is Form 1099-C Required of Lenders? [More with McGlinchey, Ep. 16]
PPP Loan Recipients at Risk: Part One
Employment Law Now IV-85- Updates on the PPP Loan Process and Loan Forgiveness
Law Brief: Elishama Rudolph and Rich Schoenstein Talk PPP Loan Forgiveness
On-Demand Webinar | PPP Loan Forgiveness: Employment and Tax Issues for Borrowers
Law Brief: CARES Act Relief for Small Businesses
Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit
False Claims Act Implications for PPP and Disaster Relief Loans: What Small Businesses Should Be Ready For
Buying or Selling a Business that Borrowed a PPP Loan
Williams Mullen's COVID-19 Comeback Plan: Conducting Reductions in Force Post COVID-19
The IRS recently released a trio of Revenue Procedures - 2021-48, 2021-49, and 2021-50 - related to the Paycheck Protection Program (PPP), which has been the subject of a number of our previous legal alerts. Some alerts can...more
Governor Roy Cooper signed the state budget on November 18 that the North Carolina General Assembly passed this week. There are a variety of important tax changes in the budget, including one that affects all North Carolina...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 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
Our previous articles have summarized the Paycheck Protection Program (“PPP”) created under the Federal CARES Act: CARES Act: Paycheck Protection Program Loans, CARES Act: Loan Applications, CARES Act: Loan Forgiveness...more
The Internal Revenue Service (IRS) recently issued Revenue Procedure 2021-20 (Revenue Procedure), providing guidance for taxpayers who received Paycheck Protection Program (PPP) loans in 2020 but did not deduct all of their...more
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
The IRS released an advance version of Rev. Rul. 2021-2, which is consistent with a legislative change allowing taxpayers to deduct otherwise deductible expenses paid with the proceeds of a Paycheck Protection Program (PPP)...more
Many taxpayers have been affected by the COVID-19 pandemic. In the business sector, many small business taxpayers were forced to seek loans under the Paycheck Protection Program (“PPP”) in an effort to navigate the crisis’...more
The Consolidated Appropriations Act of 2021, enacted late last year, includes several tax related changes and incentives affecting businesses. Congress overruled guidance from the Internal Revenue Service to provide that...more
The recent $900 billion COVID-19 economic relief package is delivering long-overdue help to businesses and individuals. The related legislation, the Consolidated Appropriations Act, provided more than $300 billion in aid for...more
The CARES Act created the Paycheck Protection Program. The PPP allowed businesses to secure forgivable SBA loans. Federal taxation of forgiven loans and related expenses are quite favorable - will states follow suit? Matt...more
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) and the recently enacted Consolidated Appropriations Act, 2021 (CAA) addressed tax issues related to the forgiveness of a Paycheck Protection Program (PPP)...more
Late on January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans”...more
On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the “Economic Aid Act”) became law. The economy continues to struggle from the effects of the coronavirus pandemic. This new law...more
On December 27, 2020, the Consolidated Appropriations Act, 2021 ("CAA" or the "Act") was signed into law. The 2,100+page CAA is made up of 32 Divisions. The significant business and individual taxpayer related provisions are...more
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...more
The Economic Aid Act continues the CARES Act’s Paycheck Protection Program with an additional $284 billion to provide forgivable loans to eligible small businesses, including certain borrowers that already received loans. ...more
While the arrival of vaccines for the coronavirus have us seeing the proverbial light at the end of the COVID-19 tunnel, many small businesses, particularly in industries such as travel, hospitality and specialty retail,...more
After months of uncertainty, there is now clear congressional and IRS guidance regarding the deductibility of business expenses for small businesses that have portions of a covered loan forgiven pursuant to the Paycheck...more
In light of recent Congressional action, the IRS has obsoleted its prior guidance that deductions of business expenses taken by recipients of forgiven loans under the Paycheck Protection Program (PPP) are disallowed. On...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