PPP Forgiveness Changes as Congress Passes PPP Flexibility Act of 2020

Both houses of Congress have passed the PPP Flexibility Act of 2020, and it awaits the President’s signature, which is expected. We provide below a…

Business Interruption Insurance Claims for COVID-19

One of the many remaining uncertainties for businesses impacted by coronavirus is whether the loss of income will be covered under their business interruption insurance…

Regarding Employee Retention Credit, the PPP, and Health Insurance to Furloughed Workers

In our webinars and writings, we’ve focused a lot of attention on the Paycheck Protection  Program (PPP), but it’s important to remember that it’s not…

SBA Allows Increased PPP Loans to Partnerships, Seasonal Employers

The SBA has issued a new interim final rule permitting lenders to increase existing Paycheck Protection Program (PPP) loans to partnerships and seasonal employers.  Initial…

NC’s $1.6B Coronavirus Relief Package Includes Help for Small Businesses

North Carolina Governor Roy Cooper signed a $1.57 billion coronavirus relief package Monday to aid the state’s response to the COVID-19 pandemic. The bill was…

Relief For Individuals and Businesses Whose Tax Residence Affected By Coronavirus Travel Disruptions

The IRS will provide relief to individuals and businesses whose tax residence might be affected by cross-border travel disruptions — such as canceled flights, border…

Payroll Tax Deferral Provided By CARES Act

Among other provisions, the CARES Act permits employers to defer the deposit and payment of the employer’s portion of social security taxes that otherwise would…

Main Street Lending Program Will Aid Mid-Size Companies

The widespread closures of businesses due to coronavirus have rendered companies of all sizes scrambling for liquidity, but federal relief programs previously enacted have focused…

Running List of Extended Federal Tax Deadlines Due To Coronavirus

In addition to previously granted automatic extensions of time to file and pay, the IRS yesterday granted additional, broad relief in response to coronavirus. Notice…

Mecklenburg County Approves Small Business Loans For Coronavirus-Impacted Companies

Mecklenburg County, NC has approved $5 million in small-business loans to help small local companies that have been negatively impacted by coronavirus.  The Small Business…