In Washington: Hopes for a quick resolution to the stimulus talks continue to fade though House Speaker Nancy Pelosi (D-CA) and Treasury Secretary Steven Mnuchin continue talking this week to try and bridge the gap between...more
In Washington: On a conference call Saturday, Senate Republicans relayed their objections to another enormous coronavirus relief package to party leaders and top Trump officials. Members cited that Republican voters have...more
Palantir’s direct listing experiment generally went well yesterday, with the company’s shares beginning trading up nearly 40% from the $7.25 reference price set Tuesday evening. Fellow direct lister Asana also had a good...more
In Washington - The House of Representatives returns from recess this week to join the Senate colleagues for the final work period before they adjourn in mid-October for the November elections. The likelihood of a deal on...more
The House Select Subcommittee on the Coronavirus Crisis held a hybrid hearing with Treasury Secretary Steven Mnuchin regarding the Trump Administration’s response to the current economic crisis. Secretary Mnuchin urged...more
In a House Select Subcommittee meeting on Tuesday, Treasury Secretary Steven Mnuchin called for more Congressional action to provide coronavirus relief and promised a White House initiative to protect renters from eviction....more
In Washington: Treasury Secretary Steven Mnuchin testified before the Senate Small Business Committee and said unemployment was too high and that administration officials wanted to work on further economic incentives. ...more
In statements made yesterday on “Squawk Box” on CNBC, Secretary Mnuchin said: “I’m going to be putting out an announcement later this morning that for any loan over $2 million, the Small Business Administration will be...more
***Update*** On April 28, Treasury Secretary Steven Mnuchin announced that the SBA will do a full review of any loan more than $2,000,000 under the PPP program. He also warned of criminal liability for borrowers who...more
Businesses grappling with the economic impact of the ongoing COVID-19 crisis have the opportunity to apply for financial assistance through a variety of Federal, State and Local programs. ...more
Seyfarth Synopsis: The tax credits afforded to certain employers and self-employed individuals by the Families First Coronavirus Response Act (FFCRA) are in effect for the period from April 1, 2020 to December 31, 2020. ...more
In its latest response to the COVID-19 pandemic, the U.S. Treasury Department today announced that the traditional income tax return filing deadline would be moved from April 15th, 2020 to July 15th, 2020....more
The day after the Oklahoma Tax Commission followed the previous guidance issued by the Internal Revenue Service to allow taxpayers to defer income tax payments but not filing requirements, U.S. Treasury Secretary Steven...more
Two days after extending by 90 days the deadline for payment of certain federal income taxes, on March 20, US Secretary of the Treasury Steven Mnuchin announced that the Internal Revenue Service will also extend the deadline...more
Senate Negotiates Phase 3, Aims for Passage by Monday - Senate bipartisan working groups met well into the night on Friday and throughout the day on Saturday to negotiate Phase 3 of the Coronavirus response following Senate...more
The Families First Coronavirus Response Act (H.R. 6201) (the “FFCRA”) (signed into law on March 18) and generally effective April 2, 2020 provides refundable tax credits for employers to offset the costs associated with the...more
The Treasury Department extends the US federal tax filing deadline from April 15 to July 15. This week’s surge in the number of confirmed COVID-19 cases was accompanied by frequent responses at the federal level directed at...more
In guidance published March 18, 2020 (Notice 2020-17), the Internal Revenue Service (IRS) postponed the payment deadline from April 15, 2020, until July 15, 2020, for federal income tax payments (including payments of tax on...more
On March 18, President Trump signed into law the Families First Coronavirus Response Act (the Act). The Act addresses many issues related to the nation’s response to COVID-19, including free coronavirus testing, funding to...more