Coronavirus Resource Page


On May 22, 2020, the Small Business Administration (SBA) and U.S. Dept. of Treasury released their interim final rule on loan forgiveness for the Paycheck Protection Program (PPP) business loans. This release supplements the previously posted interim final rules in order to help PPP borrowers prepare and submit loan forgiveness applications as provided for in the CARES Act and to inform borrowers of the SBA’s process for reviewing PPP loan applications and loan forgiveness applications.
On April 6, 2020, the Small Business Administration (SBA), in consultation with the Department of the Treasury, updated some frequently asked questions related to the Paycheck Protection Program (PPP). Click here for their updated FAQs. The following are some key takeaways for borrowers: The exclusion for payroll costs in excess of an annual salary of $100,000 does not include non-cash benefits such as employer contributions to defined benefit or defined contribution retirement plans, payment for
The Small Business Administration has posted the Interim Final Rule for the Paycheck Protection Program (“PPP”) outlining the key provisions and providing some formal guidance. This rule is being issued to allow for immediate implementation of PPP. The Small Business Administration may provide further guidance, if needed, through notices and a program guide which will be posted on sba.gov. Below are some specific points that deserve attention. To calculate the maximum amount you can borrow,
On Friday, March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to provide economic relief for the devastation resulting from the current COVID-19 pandemic. The largest spending law in US history, the CARES Act includes provisions that directly impact individuals and businesses on numerous levels. This overview presents our interpretation of the Act’s various business provisions. Employee Retention Credit for Employers The CARES Act provides eligible employers with
On Friday, March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to provide economic relief for the devastation resulting from the current COVID-19 pandemic. The largest spending law in US history, the CARES Act includes provisions that directly impact individuals and businesses on numerous levels. This overview presents our interpretation of the Act’s various individual provisions. RETIREMENT FUNDS Under the CARES Act, individuals are allowed a distribution called
On Friday, March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to provide economic relief for the devastation resulting from the current COVID-19 pandemic. The largest spending law in US history, the CARES Act includes provisions that directly impact individuals and businesses on numerous levels. This overview presents our interpretation of the Act’s provision providing direct economic stimulus payments to individuals. INDIVIDUAL STIMULUS PAYMENTS The CARES Act adds
On Friday, March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to provide economic relief for the devastation resulting from the current COVID-19 pandemic. The largest spending law in US history, the CARES Act includes provisions that directly impact individuals and businesses on numerous levels. This overview presents our interpretation of the Act’s Pandemic Unemployment Assistance (“PUA”) provision for certain individuals. pandemic unemployment assistance Pandemic Unemployment Assistance (“PUA”)
On Friday, March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to provide economic relief for the devastation resulting from the current COVID-19 pandemic. The largest spending law in US history, the CARES Act includes provisions that directly impact individuals and businesses on numerous levels. One provision of the CARES Act provides Paycheck Protection Loans (“PPLs”) intended to assist small businesses, including not-for-profit organizations, in maintaining their payroll
On Friday, March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to provide economic relief for the devastation resulting from the current COVID-19 pandemic. The largest spending law in US history, the CARES Act includes provisions that directly impact individuals and businesses on numerous levels. This overview presents our interpretation of the Act’s Title IV provision, “Economic Stabilization and Assistance to Severely Distressed Sectors of the U.S. Economy.”
On March 27, 2020, President Trump signed into law a sweeping $2.2 trillion stimulus package designed to abate the economic damages caused by the coronavirus (COVID-19) pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act is the third piece of legislation crafted to address the economic havoc being created by COVID-19. The bill contains many provisions, including an expansion of unemployment insurance, direct payments to Americans, a loan guarantee program for industries, a suite