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Posted by Troy Terakedis | Oct 5, 2020 | IRS, Tax, Taxation
Under the Paycheck Protection Program (“PPP”) established by the CARES Act, a borrower is eligible for forgiveness of all or a portion of the principal amount of a loan made in accordance with the PPP if certain conditions are...
Read MorePosted by Peter Kulick | Jun 8, 2020 | Tax, Taxation, Uncategorized
No good deed goes unpunished. Aimed at providing a financial lifeline during the “stay home” world of the COVID-19 pandemic, the federal government flung the Paycheck Protection Program (“PPP”) to the “small business” community....
Read MorePosted by Troy Terakedis | Jun 4, 2020 | Tax, Taxation
On May 28, 2020, the Paycheck Protection Program Flexibility Act of 2020 (the “Act”) was passed by the U.S. House of Representatives. On June 3, 2020, the Act was passed by unanimous consent by the Senate. The Act now awaits...
Read MorePosted by Troy Terakedis | Apr 28, 2020 | Coronavirus, COVID-19, Peter Kulick
On April 23, 2020, the Small Business Administration (“SBA”) issued additional guidance (in an update to its previously published FAQs, a current version of which can be found here) regarding whether businesses owned by large...
Read MorePosted by Troy Terakedis | Mar 24, 2020 | IRS, Tax
Tax Return Due Date Extended to July 15; Tax Payments Deferred On Friday, March 20, 2020 the United States Treasury extended the April 15, 2020 tax-filing deadline to July 15, 2020. Treasury Secretary Steven Mnuchin...
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