News & Analysis as of

U.S. Treasury Eligibility

Schwabe, Williamson & Wyatt PC

Department of Treasury Issues Final Regulations Regarding Elective Pay Program ‎

The final regulations are effective on May 10, 2024. ‎ Last week, the Department of the Treasury issued final regulations that address the Elective Pay program (also called direct pay), predominantly under Internal Revenue...more

Sullivan & Worcester

Treasury Department/Internal Revenue Service Delay in Issuing Guidance Means Hydrogen Producers Remain Uncertain About Tax Credit...

Sullivan & Worcester on

Overview of the federal Inflation Reduction Act - The Inflation Reduction Act (IRA or Act), signed by President Biden on August 16, 2022, includes the largest Congressional investment in U.S. history to facilitate the...more

Farella Braun + Martel LLP

[Event] Unlocking Clean Hydrogen: What Should Treasury’s Guidance Be for Hydrogen Production Tax Credit Eligibility? - October...

The Inflation Reduction Act (IRA), passed just over a year ago, contains a clean hydrogen production tax credit of up to $3/kg. However, guidance from the Treasury as to what qualifies for the clean hydrogen tax credit...more

Akin Gump Strauss Hauer & Feld LLP

[Podcast] What You Need to Know About the Paycheck Protection Program

In this episode, Akin Gump government contracts partner Angela Styles discusses the origins, workings, track record and future of the Paycheck Protection Program (PPP). Among the topics covered: - Self-certification,...more

Hinshaw & Culbertson LLP

PPP Updates: Calculation of the Loan Amount and Use of Loan Proceeds for Individuals Who File IRS Form 1040, Schedule C and...

On March 3, 2021, the Small Business Administration (SBA), in conjunction with the U.S. Department of the Treasury, adopted an interim final rule (IFR) that: (1) allows individuals who file an IRS Form 1040, Schedule C to...more

Bowditch & Dewey

New PPP Funding Hits the Streets – A Primer on What Businesses Should Know

Bowditch & Dewey on

Struggling businesses adversely impacted by the COVID-19 pandemic now have access to a second round of Paycheck Protection Program (“PPP”) stimulus funding enacted as part of the Economic Aid to Hard Hit Small Businesses,...more

Womble Bond Dickinson

PPP Updates: Borrower Details Released, Application Extension & Revisions to Forgiveness Application Timing

Womble Bond Dickinson on

Borrower Details Released - On July 6, 2020, the Small Business Administration (SBA) and the U.S. Treasury released detailed and searchable information about more than 650,000 borrowers that received PPP loans. As the SBA...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Agricultural 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 #5

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

Morrison & Foerster LLP - Government...

Are Foreign Employees Included In Calculating Size For PPP’s 500-Employee Size Standard? New Guidance Makes The Answer...

Updated May 18, 2020- As many companies are likely aware by now, Small Business Administration (SBA) loans under the Paycheck Protection Program (PPP) provide aid to qualifying small businesses in the form of loans with...more

Haynsworth Sinkler Boyd, P.A.

SBA Issues New Interim Rule On Foreign Affiliates

The U.S. Small Business Administration (SBA) published a new interim final rule on Monday, May 18, 2020, which addresses the question of whether U.S. companies must include employees of foreign affiliates for purposes of...more

Cozen O'Connor

Companies Receiving PPP Funds Should Prepare for Audits, and Implement Compliance Now

Cozen O'Connor on

Treasury Secretary Steven Mnuchin issued a warning on the heels of the second funding of the federal Payroll Protection Program (PPP) that large or public companies will be audited if they received a loan under the program....more

Dechert LLP

Summary of the Federal Reserve Main Street Lending Program

Dechert LLP on

The Federal Reserve Bank (the “Fed”) and the U.S. Department of the Treasury (the “Treasury”) announced preliminary details for the Main Street Lending Program (the “MSLP”) on April 9, 2020. Additional details and guidance as...more

McAfee & Taft

Main Street Lending Program

McAfee & Taft on

On April 9, 2020, the Federal Reserve announced that the Main Street Lending Program (the “Program”) had been established under the authority of Section 13(3) of the Federal Reserve Act, with approval of the U.S. Secretary of...more

Bass, Berry & Sims PLC

Main Street Lending Program 2.0 Expands Loan Options for Small and Mid-Sized Businesses, but Practical Accessibility of Program to...

On April 9, the U.S. Treasury Department (Treasury) and Federal Reserve released initial details regarding the establishment of the Main Street Business Lending Program (Main Street Program) to provide up to $600 billion in...more

Hinshaw & Culbertson LLP

The Federal Reserve Releases Details on Two New Main Street Loan Facilities and the Paycheck Protection Program Loan Facility

In a recent alert, we reviewed a series of developments regarding implementation of the $2.2 trillion federal CARES Act, including news that the Federal Reserve had released details on two new loan facilities. This alert...more

Proskauer - Employee Benefits & Executive...

Final Regulations on Orientation Periods Released

On June 20, the Federal regulatory agencies in charge of health care reform guidance (the Departments of Labor, Treasury, and Health and Human Services) released final regulations (“Final Regulations”) clarifying the...more

Cozen O'Connor

Health Care Reform Implementation Update - February 26, 2014

Cozen O'Connor on

Though Congress was in recess this past week, congressional staff was hard at work continuing to consider ways to prevent a cut to Medicare providers’ payment rates that will be triggered by the sustainable growth rate...more

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