3 minute read: The Biden administration is once again finding ways to bolster the Affordable Care Act. This time the advancement comes in the form of ACA subsidies and the …
Paycheck Protection Program (PPP)
-
-
ACA ComplianceAffordable Care ActIRS
IRS Suspends Excess Repayment of APTCs for 2020 Tax Year
by Robert Sheenby Robert Sheen3 minute read: The latest ACA advancement to be introduced by the Biden administration comes via the American Rescue Plan and applies to the use of Advanced Payments of Premium …
-
Affordable Care Act
IRS Experiences Paper Mail Backlog, Employers Should E-file ACA Returns
by Robert Sheenby Robert Sheen3 minute read: The COVID-19 pandemic created hardships for everyone and everything, including the IRS. On numerous occasions, the agency announced a significant backlog in processing paper returns. As of …
-
Affordable Care Act
PPP Loans Are Now Available, Both First Draw and Second Draw PPP Loans
by Robert Sheenby Robert Sheen2 minute read: Last Friday, the Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) will reopen this week with First Draw PPP loans to be available starting …
-
Affordable Care Act
SBA Posts New Interim Rule on SBA Loan Review Decisions Under the Paycheck Protection Program (PPP)
by Robert Sheenby Robert Sheen2 minute read: On August 12, 2020, the Small Business Association (SBA) issued a new interim final rule that provides guidance for borrowers and lenders on the appeal procedure for …
-
Affordable Care Act
SBA Releases FAQs on Loan Forgiveness Under the Paycheck Protection Program (PPP)
by Robert Sheenby Robert Sheen1 minute read: On August 4, 2020, the Small Business Association (SBA) released 10 pages of FAQs pertaining to loan forgiveness under the Paycheck Protection Program (PPP). The PPP is …
-
Affordable Care Act
New Senate Bill Seeks to Enhance the Employee Retention Credit Under the CARES Act
by Robert Sheenby Robert Sheen2 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, …
-
Affordable Care Act
Window to get Paycheck Protection Program (PPP) Loan gets Extended
by Robert Sheenby Robert Sheen1 minute read: President signed legislation (S.4116) on the Fourth of July extending the deadline to apply for the Paycheck Protection Program (PPP). Now, small employers now have until August …
-
Affordable Care Act
Paycheck Protection Program Flexibility Act Injects much needed Flexibility into PPP Loan Forgiveness
by Robert Sheenby Robert Sheen2 minute read: The Paycheck Program Flexibility Act was signed into law on June 5, 2020. This comes just in the nick of time as the original covered period under …
-
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 …
-
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 …
-
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”) …
-
Affordable Care Act
Paycheck Protection Program Gets a $310 Billion Infusion to Help Small Businesses Through Coronavirus Pandemic
by Robert Sheenby Robert Sheen2 minute read: On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act was signed into law (the “Act”). Among its key provisions is the infusion of …
-
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 …
-
4 minute read: Many employers and individuals are understandably concerned about how to navigate the difficult business environment created by the COVID-19 Pandemic and resulting state and federal mitigation measures. …
-
Affordable Care Act
Treasury Issues Interim Final Rule on the Paycheck Protection Program Loans
by Robert Sheenby Robert Sheen5 minute read: On April 2, 2020, the Treasury issued Interim Final Rule on the Paycheck Protection Program (“PPP”). The PPP is the program under the Coronavirus Aid, Relief, and …