Courtesy of the SBA & US Department of the Treasury Washington — Friday, May 15, 2020, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and...
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Paycheck Protection Program Loans Frequently Asked Questions (FAQs)
Courtesy of the US Department of the Treasury As of May 13, 2020 The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the...
Federal Reserve Announces Main Street Business Lending Program As Part of Additional Actions to Provide Economic Aid
On April 9, the Federal Reserve announced additional actions it will take to provide up to $2.3 trillion in loans to support the U.S. economy. The Federal Reserve believes this funding will assist households and employers of all sizes and bolster the ability of state...
Paycheck Protection Program Loans Frequently Asked Questions (FAQs)
Courtesy of the US Department of the Treasury As of April 7, 2020 The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the...
How does the CARES Act Help Nonprofits and Higher Education Institutions?
By Andrea Wilson Nonprofit organizations and higher education institutions have been hard at work trying to help the world navigate the novel coronavirus (COVID-19) pandemic. While trying to maintain focus on their missions, these organizations and institutions...
North Carolina Leaders Announce Shared Support for Deferring Interest on Income Tax Until July 15
By Joseph Kyzer, North Carolina General Assembly Raleigh, N.C. – North Carolina leaders announced shared bipartisan support for deferring the accrual of interest on state income taxes filed before July 15, 2020, in a joint statement released by General Assembly...
COVID-19’s Impact on U.S. Retirement Plans
Business leaders face an array of questions they need to answer and information they must analyze during the rapidly evolving response to the COVID-19 pandemic. While decisions about safety and business operations are obviously top priorities now, plan sponsors still...
Tax Day Now July 15: Treasury, IRS Extend Filing Deadline and Federal Tax Payments Regardless of Amount Owed
The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15,...
CARES Act: Employee Retention Credit
After days of furious negotiations, Congress has passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The $2.2 trillion price tag for tax relief and incentives for individuals and businesses makes it the most expensive piece of legislation ever...
President Trump Signs Into Law CARES Act
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The CARES Act is the third round of federal government aid related to...