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Paycheck Protection Program (PPP) Financial Stimulus Today's Popular Updates

PilieroMazza PLLC

PPP Loans Under the Microscope: False Claims Act and Enforcement Trends

PilieroMazza PLLC on

While the COVID-19 pandemic may feel like a distant memory for many, its effects continue to reverberate for others—particularly for businesses that obtained loans through the Paycheck Protection Program (PPP). Whether...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

Morgan Lewis

Initial Key Takeaways from the American Rescue Plan Act of 2021

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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

Benesch

Grants for Shuttered Venue Operators

Benesch on

A recently passed relief bill will provide $15 billion in federal funding toward grants for “shuttered venue operators,” making funding available to an industry that has been particularly impacted during the COVID-19...more

Dorsey & Whitney LLP

Round Three of the PPP - The New Stimulus Bill Amendments

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In an effort to achieve an agreement before the expiration of many of the CARES Act1 economic relief measures, on December 21, 2020, the U.S. Congress passed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Gould + Ratner LLP

Congress Passes $900 Billion Relief Act and Revises the PPP

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After months of intense negotiations, Congress passed a new relief bill this week. Assuming President Trump signs the bill, or Congress overrides a veto, it delivers change just in time for the new year. Tucked into the...more

Genova Burns LLC

Stimulus - Implications for Recipients of PPP and EIDL Advances; Are you eligible for more?

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Late Monday evening, Congress passed a $900 billion stimulus bill that, among other things, includes some continuation of relief (albeit on a modified basis) for individuals and businesses impacted by the coronavirus...more

Robins Kaplan LLP

COVID-19 Relief Bill Provides Funding to Small Businesses and Individuals

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On Monday, December 21, 2020, Congress passed a $900 billion COVID-19 relief bill known as the Coronavirus Response and Relief Supplemental Appropriations Act (the “Bill”) after months of intense negotiations. The 5,593-page...more

Brownstein Hyatt Farber Schreck

Coronavirus Economic Response Update: Lawmakers Release Competing COVID-19 Relief Packages

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

Pullman & Comley, LLC

IRS Confirms PPP Loan Forgiveness Not Taxable

Pullman & Comley, LLC on

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

Lowndes

SBA Issues New FAQs Regarding PPP Loan Forgiveness

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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

Morgan Lewis

CARES Act and Federal Reserve Offer Economic Assistance to Stabilize US Economy (UPDATED)

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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

Robins Kaplan LLP

Financial Daily Dose 6.11.2020 | Top Story: Europe to Charge Amazon with Antitrust Violations Over Treatment of Third-Party...

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The European Union’s antitrust authority is reportedly within days of filing charges against Amazon for the company’s “treatment of third-party sellers,” the latest step in a “two-year probe into Amazon’s alleged mistreatment...more

Lowndes

IRS Clarifies Non-Deductibility of Expenses Paid With Forgiven PPP Loan Proceeds

Lowndes on

The Paycheck Protection Program (“PPP”) included in the CARES Act allows businesses with 500 or fewer employees to receive loans to pay payroll costs, rent and certain other expenses....more

Pullman & Comley, LLC

Bankruptcy Court Overrides SBA’s Prohibition Against Extending PPP Loans to Companies in Bankruptcy

Pullman & Comley, LLC on

The Paycheck Protection Program is a federal loan program that was brought into law on March 27, 2020, by the Coronavirus Aid, Relief, and Economic Security Act, known as the “CARES Act.”...more

A&O Shearman

Congress Passes Largest Ever Economic Stimulus Package: Key Provisions Of Cares Act - Update April 2020

A&O Shearman on

Originally published March 27,2020 – Last updated April 27,2020 The Novel Coronavirus (COVID-19) pandemic has swiftly and significantly unsettled key sectors of the U.S. economy, impacted the viability of many businesses and...more

Goulston & Storrs PC

New PPP Loan Availability and Cautionary Guidance Announced

Goulston & Storrs PC on

1. The Paycheck Protection Program and Healthcare Enforcement Act: What You Need to Know - On April 24, 2020, the President signed into law the Paycheck Protection Program and Healthcare Enhancement Act (the “Act”), amending...more

Tucker Arensberg, P.C.

SBA Provides Guidance Regarding PPP Loan Forgiveness, but Questions Remain

Tucker Arensberg, P.C. on

On April 2, 2020, the Small Business Association (SBA), in consultation with the Department of the Treasury, published its Interim Final Rule (“Rule”) announcing the Paycheck Protection Program. While the Rule provided some...more

Jackson Lewis P.C.

PPP Loan Forgiveness: Some Answers, Many Questions

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Much has happened in the three-plus weeks since the Coronavirus Aid, Relief, and Economic Securities (CARES) Act was enacted on March 27, 2020. The $349 billion dollars appropriated to the newly created Paycheck Protection...more

Pierce Atwood LLP

COVID-19: Paycheck Protection Program Loan Forgiveness – What You Need to Know

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Last week, hundreds of thousands of applications for loans under the Paycheck Protection Program (PPP) were submitted to banks all over the country, and it’s likely that many more will be submitted in the coming weeks. ...more

Hogan Lovells

REVISED (Update #2): COVID-19 U.S.: Navigating the Paycheck Protection Program (PPP) under the CARES Act and recent SBA guidance

Hogan Lovells on

On Friday, March 27, President Trump signed into law H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to address the catastrophic impact of COVID-19 on the U.S. economy. The CARES Act is a US$2.2...more

Stinson LLP

You Got Your PPP Loan, Now What?

Stinson LLP on

Needless to say, the last few weeks have been utterly chaotic for employers. Aside from dealing with the existential threat of a 100-year pandemic and the confusion around the Families First Coronavirus Response Act, small...more

Stinson LLP

Applying SBA's Affiliation Rules and Guidance to Private Equity and Venture Capital Portfolio Companies Seeking PPP Loans

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By now, businesses are deep into consideration of whether they should seek a loan under the Paycheck Protection Program (PPP), being administered by the Small Business Administration (SBA) under the Coronavirus Aid, Relief,...more

Rumberger | Kirk

COVID-19: The Paycheck Protection Program Q & A

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The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, was signed into law on Friday March 27, 2020....more

Pierce Atwood LLP

COVID-19: Federal Programs Guide and State Business Assistance Programs

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States Covered: Maine, Massachusetts, New Hampshire, and Rhode Island - FEDERAL PROGRAMS - In response to the unprecedented disruption caused by the COVID-19 pandemic and public health efforts to fight the virus, federal...more

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