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…
In an effort to provide better access to PPP funding for small businesses, President Joseph Biden recently announced some changes to the PPP loan application process. Beginning today, February 24, 2021 and continuing for 14 days, the SBA will only accept applications from businesses with fewer than 20 employees. This exclusive window for small businesses…
When you woke up on New Year’s Day, did you ever imagine the craziness that is 2020? Did you think that we would have had to quarantine ourselves for the better part of the winter, spring and into the summer due to the scourge of a novel virus? Did you imagine record unemployment, schools and…
The Paycheck Protection Flexibility Act of 2020 (H.R. 7010) which was passed by the House on May 28, 2020, was passed by the Senate by unanimous vote late on June 3, 2020. It was signed into law on Friday June 5, 2020 by President Trump. This new bill amends the CARES Act Paycheck Protection Program…
Congress and the Trump administration have struck a deal on another piece of legislation, the latest in a series of federal measures intended to provide relief in response to the novel coronavirus (COVID-19) pandemic. The $484 billion legislation, which is being referred to as the Interim Stimulus Plan, amends the Coronavirus Aid, Relief and Economic…
PPP Loans We’ve been talking a lot recently about the various loans provided for in the CARES Act, particularly the Paycheck Protection Program (PPP), which in less than two weeks unfortunately ran out of the $349 billion in funding money this morning. Small businesses are continuing to submit loan applications and we understand that existing…
The Internal Revenue Service (IRS) recently issued Notice 2020-23 which provides new guidance regarding extensions for several tax form filings and payment obligations that are due between April 1, 2020 and July 15, 2020. Specifically, the new notice postpones all quarterly estimated income tax payments that are normally payable between April 1, 2020 and July…
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…
The Coronavirus Aid, Relief and Economic Security (CARES) Act that was passed by Congress and signed by the President is a $2 trillion package designed to provide relief for American workers, businesses, hospitals, government, and certain nonprofits and other employers. A voluminous bill of over 880 pages, we will do our best to summarize it…