News & Analysis as of

Safe Harbors Payroll Taxes

McCarter & English, LLP

New PPP Rules Benefit Self-Employed Individuals

Last year, self-employed individuals who conducted their business without any employees could qualify for a Paycheck Protection Program (PPP) loan in an amount equal to approximately 20.8% (2.5 months divided by 12 months) of...more

Jackson Walker

Payroll Tax Relief and Latest Developments in Retirement Plans and Benefits

Jackson Walker on

Payroll Tax Relief Under CARES Act, FFCRA, and Executive Order - While the Coronavirus Aid, Relief, and Economic Security (CARES) Act permitted employers to defer depositing the portion of the FICA taxes the employer pays...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Manufacturing, Distribution and Retail Industry - Update #7

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Schwabe, Williamson & Wyatt PC

What to Know for Businesses Completing the Revised PPP Loan Forgiveness Applications

On May 18, 2020, and May 26, 2020, Schwabe published two articles about the Paycheck Protection Program (“PPP”) Loan Forgiveness Application dated May 2020. On June 16, 2020, in light of the changes from the Paycheck...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Technology Industry - Update #3

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Manufacturing, Distribution and Retail Industry - Update #4

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Proskauer Rose LLP

Paycheck Protection Program – Where Are We Now? An Up-To-Date Guide to the Paycheck Protection Program (UPDATED)

Proskauer Rose LLP on

Originally published on April 14, 2020. Last updated as of June 18, 2020. Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more

Lewitt Hackman

Update re Major Changes to Loan Forgiveness Rules Under the Paycheck Protection Program

Lewitt Hackman on

On March 27, 2020, Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which is an approximately $2 trillion stimulus and economic relief package. ...more

Rumberger | Kirk

CARES Act Update: Paycheck Protection Program Flexibility Act Provides Additional Relief for Small Businesses

Rumberger | Kirk on

Congress passed new legislation to extend and relax the loan forgiveness requirements of the Paycheck Protection Program (“PPP”), the federal aid program established by the CARES Act for small businesses affected by the...more

Pierce Atwood LLP

COVID-19: SBA Updates PPP Rule to Implement New Flexibility Provisions

Pierce Atwood LLP on

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

Neal, Gerber & Eisenberg LLP

Paycheck Protection Program Flexibility Act and Other Updates to the Paycheck Protection Program

On Friday, June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (“PPPFA”).  The PPPFA amends the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief, and Economic...more

FordHarrison

Payroll Protection Program Update : Documenting Compliance with Agency Requirements and Guidance to Qualify for the Business...

FordHarrison on

The CARES Act created the Paycheck Protection Program (“PPP”), which amended the Small Business Act (“SBA”) to provide short term loans to companies with fewer than 500 employees and other companies (such as those in the...more

Schwabe, Williamson & Wyatt PC

Latest PPPFA Statement Offers Some Clarity

On June 8, 2020, the SBA Administrator and the Secretary of the Treasury issued a joint statement regarding changes effected by the recently-enacted Paycheck Protection Program Flexibility Act (PPPFA). In that statement, they...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Technology Industry - Update #2

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Moore & Van Allen PLLC

Forgiveness is Divine: Insight for PPP Borrowers to Maximize Loan Forgiveness - Update

Moore & Van Allen PLLC on

(April 30,2020; Updated May 8, 2020 and June 10, 2020 to Reflect FAQ #40 and Forgiveness Application, Interim Final Rule on Forgiveness and PPP Flexibility Act, respectively) As businesses that have received funds...more

Foodman CPAs & Advisors

PPP Loan Borrowers will need Assistance when Applying for Forgiveness of their PPP Loans

On 4/15/20, the SBA and the U.S. Department of the Treasury released an application form for Paycheck Protection Program (PPP) loan forgiveness along with instructions for completing the form. ...more

Nossaman LLP

PPP and Loan Forgiveness: Latest Guidance and Changes Under the PPP Flexibility Act

Nossaman LLP on

Since the Paycheck Protection Program (“PPP”) was implemented under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), borrowers have sought clarity from the Small Business Administration (“SBA”) about the...more

UB Greensfelder LLP

The CARES Act Update – PPP Flexibility Act of 2020

UB Greensfelder LLP on

Late last week Congress approved and the President signed the Paycheck Protection Program Flexibility Act of 2020 (“Flexibility Act”). This new bill attempts to address some of the more troubling requirements when applying...more

Nossaman LLP

Will Your PPP Loan Be Reviewed by the SBA? - The Latest Guidance

Nossaman LLP on

Since its implementation under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), there has been a lot of attention on the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”). Both...more

McNees Wallace & Nurick LLC

New Legislation Eases “PPP” Loan Forgiveness Restrictions

On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”). As the name suggests, the Flexibility Act provides PPP loan borrowers (“Borrowers”) with...more

Cozen O'Connor

Additional Clarification of Paycheck Protection Program Changes

Cozen O'Connor on

The Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act), which became law on June 5, made significant changes in the Paycheck Protection Program (PPP)....more

Rosenberg Martin Greenberg LLP

Paycheck Protection Program Loans – Loan Forgiveness Made Easier

On Friday, June 5, the President signed into law the Paycheck Protection Program Flexibility Act (the “Act”).  Originally enacted as part of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March...more

Morgan Lewis - ML Benefits

Employers May Continue to Defer Payroll Taxes Even After Paycheck Protection Loan Forgiveness

US President Donald Trump signed the Paycheck Protection Program Flexibility Act of 2020 (the Act) on June 5, modifying certain provisions related to the forgiveness of loans under the Paycheck Protection Program (PPP). ...more

Franczek P.C.

Paycheck Protection Program Flexibility Act Provides PPP Loan Recipients Much Needed Relief

Franczek P.C. on

The Paycheck Protection Program (PPP) represented a lifeline to many businesses struggling to stay afloat amid the Coronavirus pandemic by providing forgivable loans to businesses to cover payroll and certain non-payroll...more

Stinson LLP

New Law Makes Major Changes to the Paycheck Protection Program

Stinson LLP on

The Paycheck Protection Program Flexibility Act of 2020, H.R. 7010 (PPPFA) recently passed by Congress and signed by the president on June 5, 2020 makes significant changes to the Paycheck Protection Program (PPP) in an...more

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