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If You Guessed PPP Loans Are Tax-Free, Guess Again
Many small businesses have been approved for and now may have received loans through the Paycheck Protection Program (PPP). The PPP was created as part of the Coronavirus Aid,...
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Q&A: The Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
(UPDATED 4/16/20) On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2 trillion stimulus package designed to increase liquidity in...
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New SBA Guidance Updates PPP Application Process for Partnerships, LLCs and Self-Employed Individuals
The Small Business Administration (SBA) has issued a new interim final rule clarifying Paycheck Protection Program (PPP) eligibility criteria and application requirements for self-employed individuals, and for partners and members of partnerships...
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IRS Extends Additional Deadlines
In this time of widespread uncertainty, the Department of Treasury and the Internal Revenue Service have attempted to calm some nerves by announcing the extension of several deadlines for...
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Fed Announces $600 Billion Main Street Business Lending Program
On Thursday, April 9, 2020, the Federal Reserve announced the creation of the $600 million Main Street Business Lending Program which will complement the Paycheck Protection Program (PPP) and...
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IRS Extends Tax Filing Deadline
In the rapidly evolving world of tax-related announcements stemming from the COVID-19 outbreak, the IRS announced an expansion of the extension rules it laid out just two days earlier....
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