COVID-19 Resources
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Paycheck Protection Flexibility Act makes loan forgiveness more borrower friendly
On June 5, 2020, the president signed into law the bipartisan Paycheck Protection Flexibility Act of 2020 (PPFA), which eases rules on how Paycheck Protection Program (PPP) loan funds can be used and extends the forgiveness application deadline from eight weeks from the origination date of the loan to 24 weeks from the origination date…
0READ MORE: Paycheck Protection Flexibility Act makes loan forgiveness more borrower friendly -
What you need to know about applying for PPP loan forgiveness
Since this article was published, Congress has passed and the president has signed into law the Paycheck Protection Flexibility Act of 2020 (PPFA), which makes changes to the loan forgiveness provisions discussed below. To read more about those changes, read our update on the PPFA here. On May 15, 2020, the Small Business Administration (“SBA”) published…
0READ MORE: What you need to know about applying for PPP loan forgiveness -
DOL Provides Guidance on Employee Leave under the FFCRA
On April 1, the Department of Labor (DOL) issued temporary regulations implementing the Families First Coronavirus Response Act (FFCRA), which provides paid sick leave to eligible individuals impacted by the novel coronavirus, COVID-19. The regulations expand on and clarify a number of FFCRA provisions as well as the DOL’s own previously published Q&A informal guidance.…
0READ MORE: DOL Provides Guidance on Employee Leave under the FFCRA -
IRS Extends Tax Filing Deadlines for Nonprofits
The IRS has expanded its extended deadline relief to Forms 990 and other forms and payments applicable to tax-exempt organizations originally due on or after April 1, 2020, and before July 15, 2020. These forms and payments are now due by July 15, 2020. The IRS previously announced an extended deadline of July 15 for…
0READ MORE: IRS Extends Tax Filing Deadlines for Nonprofits -
CARES Act Considerations for Retirement Plans
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides certain temporary relief for eligible retirement plans, giving employers important options to consider as the nation recovers from the COVID-19 pandemic. Plan sponsors are not required to adopt these provisions but may elect to do so to assist employees suffering financial hardship due to…
0READ MORE: CARES Act Considerations for Retirement Plans -
More COVID-19 Relief in Main Street Lending Program
On April 9, 2020, the Federal Reserve Board released the details of its Main Street Lending Program (MSLP), which will provide up to $600 billion in loans to small and mid-sized businesses, that were in good financial standing before the COVID-19 pandemic. The MSLP is not yet operational, but it is anticipated to be available…
0READ MORE: More COVID-19 Relief in Main Street Lending Program
COVID-19 Resources
-
Paycheck Protection Flexibility Act makes loan forgiveness more borrower friendly
On June 5, 2020, the president signed into law the bipartisan Paycheck Protection Flexibility Act of 2020 (PPFA), which eases rules on how Paycheck Protection Program (PPP) loan funds can be used and extends the forgiveness application deadline from eight weeks from the origination date of the loan to 24 weeks from the origination date…
0READ MORE: Paycheck Protection Flexibility Act makes loan forgiveness more borrower friendly -
What you need to know about applying for PPP loan forgiveness
Since this article was published, Congress has passed and the president has signed into law the Paycheck Protection Flexibility Act of 2020 (PPFA), which makes changes to the loan forgiveness provisions discussed below. To read more about those changes, read our update on the PPFA here. On May 15, 2020, the Small Business Administration (“SBA”) published…
0READ MORE: What you need to know about applying for PPP loan forgiveness -
DOL Provides Guidance on Employee Leave under the FFCRA
On April 1, the Department of Labor (DOL) issued temporary regulations implementing the Families First Coronavirus Response Act (FFCRA), which provides paid sick leave to eligible individuals impacted by the novel coronavirus, COVID-19. The regulations expand on and clarify a number of FFCRA provisions as well as the DOL’s own previously published Q&A informal guidance.…
0READ MORE: DOL Provides Guidance on Employee Leave under the FFCRA -
IRS Extends Tax Filing Deadlines for Nonprofits
The IRS has expanded its extended deadline relief to Forms 990 and other forms and payments applicable to tax-exempt organizations originally due on or after April 1, 2020, and before July 15, 2020. These forms and payments are now due by July 15, 2020. The IRS previously announced an extended deadline of July 15 for…
0READ MORE: IRS Extends Tax Filing Deadlines for Nonprofits -
CARES Act Considerations for Retirement Plans
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides certain temporary relief for eligible retirement plans, giving employers important options to consider as the nation recovers from the COVID-19 pandemic. Plan sponsors are not required to adopt these provisions but may elect to do so to assist employees suffering financial hardship due to…
0READ MORE: CARES Act Considerations for Retirement Plans -
More COVID-19 Relief in Main Street Lending Program
On April 9, 2020, the Federal Reserve Board released the details of its Main Street Lending Program (MSLP), which will provide up to $600 billion in loans to small and mid-sized businesses, that were in good financial standing before the COVID-19 pandemic. The MSLP is not yet operational, but it is anticipated to be available…
0READ MORE: More COVID-19 Relief in Main Street Lending Program