On February 18th, the US District Court for the Eastern District of Texas issued a decision in Smith, et al v US Department of the Treasury. In its’ decision, the Court reinstated the enforceability of the Corporate Transparency Act (CTA). Following that decision, FinCEN issued a notice that the initial Beneficial Ownership Information Reports (BOI)…
The American Rescue Plan Act of 2021 was passed by Congress and signed into law by President Joseph R. Biden on March 11, 2021. It provides approximately $1.9 trillion in support and stimulus for individuals, businesses, other organizations, and state and local governments who have been affected by the COVID-19 pandemic. Here’s a highlight of…
No, it isn’t an April Fools prank. There are ways small businesses can receive cash in a short period of time. There are a number of loans and other programs available, however, keep in mind that businesses may not apply for different loans to cover the same costs. Let’s compare the Economic Injury Disaster Loan…
Everyone has questions about the Coronavirus Aid, Relief and Economic Security (CARES) Act that was passed by Congress and signed by the President last Friday. It is a voluminous bill of over 800 pages and provides $2 trillion designed to provide relief for American workers, businesses, hospitals, government, and certain nonprofits and other employers. A…
As discussed in a previous post, we will continue to keep you abreast of a situation that changes by the minute. There is a lot of information out there, and you need to carefully digest it and discern the accuracy. It is a very fluid situation. Yesterday, in a Press Conference Treasury Secretary Steve Mnuchin…