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COVID-19

IRS Grants Relief for 1031 Exchanges and Qualified Opportunity Zone Investments

Last week the IRS issued Notice 2020-18. Included in the relief provided by the Notice is an extension of time…

Len NittiApril 13, 2020

COVID-19

The CARES Act – Creating Cash Flow Opportunities for Businesses through Tax Planning

While the main focus of the CARES Act has been the PPP loans and the related forgiveness, the CARES Act…

Karen ArtasanchezMay 7, 2020

Business Tax COVID-19

Main Street Lending Program Finally Launched by Feds for Lender Registration

The US Federal Reserve at long last launched its Main Street Lending Program on Monday after making numerous changes to…

Ed WilkinJune 16, 2020

COVID-19

US Treasury Department and SBA Release Updated Guidance for PPP Loans

The US Treasury Department recently released an updated version of the Loan Forgiveness Application, along with the Small Business Administration…

Dan FiorentinoJune 17, 2020

Business Tax COVID-19

Creating Cash Flow – PPP Loan Recipients Now Have More Time to Defer Payroll Tax Deposits

On June 5, 2020 President Trump signed the Paycheck Protection Program Flexibility Act (PPPF). This highly anticipated guidance provided businesses…

Karen ArtasanchezJune 10, 2020

COVID-19

5 Observations from the PPP Final Interim Rule on Loan Forgiveness

The Small Business Administration (SBA) has finally issued the long-awaited guidance on Paycheck Protection Program (PPP) loan forgiveness. This follows…

Len NittiMay 28, 2020

COVID-19 Individual Tax

The SBA Issues Guidance to Allow for Additional Disbursements for Certain PPP Loans

The SBA issued guidance on April 14th regarding how a partner’s compensation should be calculated for PPP loans. Prior to…

Len NittiMay 14, 2020

COVID-19

SBA Issues New Guidance on When a PPP Loan is “Necessary”

With the issuance of Frequently Asked Questions 31 and 37 a couple of weeks ago by the Small Business Administration…

Len NittiMay 13, 2020

COVID-19

PPP Loans: Allowable Use of Proceeds vs Forgivable Amounts

The CARES Act created a new forgivable loan program called the Paycheck Protection Program (PPP) to provide businesses with funding…

Len NittiMay 4, 2020

COVID-19

SBA Issues Additional Guidance for PPP Eligibility

Amidst negative publicity from the media regarding publicly traded and other large companies receiving Paycheck Protection Program loans (PPP) and…

Len NittiApril 27, 2020