2 minute read: The Senate recently introduced new legislation to further assist in the continuing COVID-19 pandemic, including the American Workers, Families and Employer Assistance Act. Under this Senate Bill, …
Coronavirus Aid Relief and Economic Security Act (“CARES Act”)
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1 minute read: On Friday, the SBA released the application with instructions form for loan forgiveness under the Paycheck Protection Program (PPP). See here. The form provides guidance and clarification …
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1 minute read: On April 30, 2020 the IRS recently issued IRS Notice 2020-32. This Notice discusses the tax deductibility status of expenses that are forgiven under the Paycheck Protection …
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Affordable Care Act
No Double Dipping: Forgiven Covered Expenses on a PPP Loan Are Not Deductible
by Robert Sheenby Robert Sheen1 minute read: The IRS recently issued IRS Notice 2020-32. See here. This Notice discusses the tax deductibility status of expenses that are forgiven under the Paycheck Protection Program (“PPP”) …
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Affordable Care Act
What You Should Know to Ensure Maximum Loan Forgiveness for PPP Loans
by Robert Sheenby Robert Sheen3 minute read: On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted to expeditiously aid small businesses in the wake of the Coronavirus …