Williams Mullen's Comeback Plan: Part I – State & Local Tax (SALT) Compliance During COVID-19: What to Do When You’re Behind
Can a Sole Proprietor Seek PPP Forgiveness Without Payroll Expenses?
The 2020 CARES ACT Overview of Paycheck Protection Program and Loan Forgiveness
Roetzel HealthLaw HotSpot: Optimizing Your Practice for Sale
Lawyers on Tap: Tap Tips for Entity Formation and Taxation
Registration of Business Entities - Unless exempted, business entities must be registered with the Accounting and Corporate Regulatory Authority (ACRA) via their business filing portal: BizFile+. A foreigner residing...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
As we reported at the beginning of the year, the second wave of the Paycheck Protection Program ("PPP2") rolled out additional funding for qualifying second-round PPP borrowers and first-time borrowers that meet eligibility...more
In the wake of COVID-19, small businesses have faced unique challenges and hardships. In response, the government created a federal relief program under the CARES Act, the Paycheck Protection Program (PPP), aimed toward...more
On December 21st, Congress passed a new COVID-19 relief bill titled the Consolidated Appropriations Act that provides for a variety of financial stimulus measures, including $325B in aid for small businesses, $166B in...more
Reopenings: Schools and the General Assembly Get Back to It. Legislative Session 2020 started out like most sequels, with a feeling of déjà vu. It was Groundhog Day with a touch of “I Am Legend” thrown in for atmosphere....more
Tax partners Stephanie Lipinski Galland and Kyle Wingfield summarize what you can do if you have not filed your state and local taxes or if you are unable to pay your tax bills due to the COVID-19 pandemic. Topics include...more
Last month, the U.S. Treasury and the Small Business Administration (SBA) released two Paycheck Protection Program (PPP) loan forgiveness applications. The first was a new EZ PPP loan forgiveness application with instructions...more
Because most self-employed individuals do not pay themselves through payroll, the PPP has introduced a concept known as Owner Compensation Replacement (“OCR”) which allows sole proprietors to claim forgiveness amounts to make...more
When the Paycheck Protection Program (“PPP”) first was launched, the SBA portal was available to small businesses that could evidence loan application amounts based upon documented payrolls. ...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Paycheck Protection Program (PPP) aims to provide qualifying small businesses, nonprofit organizations, veterans organizations, tribal businesses, sole...more
The Finnish Government has prepared an extensive package of approximately EUR 1.45 billion to support companies and to alleviate the negative effects of COVID-19 epidemic. In the administrative sector of the Ministry of...more
Late on April 16, 2020, the SBA announced that its Paycheck Protection Program (PPP) was out of funding and the agency would not be accepting any more applications for the $349 billion program. This left many small business...more
On April 14, 2020, the Small Business Administration (SBA) issued its third Interim Final Rule (the Third Interim Final Rule) on the Paycheck Protection Program (PPP) created by the CARES Act. Specifically, the Third Interim...more
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law (the full 880-page text of the CARES Act is available here). One feature of the CARES Act, the “Paycheck...more
Declared by the World Health Organization on 11 March 2020 as a global pandemic, the Coronavirus outbreak ("COVID-19") is having far-reaching consequences for all states affected by this pandemic. Amidst the lockdowns and...more
This webinar addresses the Paycheck Protection Program and Paycheck Protection Program Loan Forgiveness provisions of the newly enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides aid to small...more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is now U.S. law. The Act offers relief to small businesses by creating more favorable terms for loans provided by the Small Business Administration. If you own or...more
Both houses of the United States Congress have now passed the CARES Act and sent it to the President for his expected signature. Among the provisions in the 880-page Act are critical ones dealing with aid to small businesses,...more