The $900 billion Consolidated Appropriations Act of 2021 (the Act) modifies the Paycheck Protection Program (PPP) in a variety of business-friendly ways likely to benefit both…
Continue Reading For Existing PPP Borrowers, Stimulus Bill Expands Forgivable Uses and Eases Tax Consequences
By Matthew D. Lee and Marissa Koblitz Kingman
This month’s court-ordered release of Paycheck Protection Program (PPP) loan data is expected to result in intense scrutiny of the loan forgiveness
…
Continue Reading PPP Data Dump Places Loan Forgiveness Applications Under a Microscope
By Paul B. Edelberg, Elizabeth J. Hampton and Gabriel B. Herman
In its massive new pandemic relief and stimulus package, Congress has significantly modified the Paycheck Protection Program (PPP)…
Continue Reading Stimulus Package Expands PPP, Simplifies Loan Forgiveness and Adds Disaster Grants
November 23, 2020 – Alerts
An unprecedented explosion of government investigation and enforcement is at hand as federal regulators focus their efforts on ferreting out any…
November 16, 2020 – Alerts
By Eric J. Michaels and Adam R. Young
The IRS intends to issue proposed regulations to permit a partnership or an S corporation to deduct…
Continue Reading Partnerships and S Corporations Exempted From Limits on State and Local Tax Deduction
On October 26, the Small Business Administration (SBA) published a notice in the Federal Register seeking approval from the Office of Management and Budget to release…
Continue Reading SBA Announces New Paycheck Protection Program Loan Necessity Questionnaire
By Marissa Koblitz Kingman
Since the pandemic began, the federal courts have been inundated with Compassionate Release applications from attorneys seeking the immediate or early release of clients in custody.
Continue Reading Compassionate Release – Are You Eligible?
By Matthew D. Lee and Marissa Koblitz Kingman
While the $525 billion Paycheck Protection Program (PPP), enacted as part of the CARES Act, has undoubtedly helped millions of deserving businesses…
Continue Reading PPP Loan Fraud Enforcement 2.0: Preparing for the Next Round of Scrutiny
On October 14, 2020, FinCEN posted an incorrect message on its Bank Secrecy Act (BSA) E-Filing website. The message incorrectly stated there was a new filing extension until December 31,…
Continue Reading FinCEN Clarifies FBAR Deadline Confusion
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has announced that victims of the California Wildfires, the Iowa Derecho, Hurricane Laura, the Oregon Wildfires, and Hurricane Sally have until December…
Continue Reading FinCEN Extends FBAR Deadline to December 31 for Victims of Recent Natural Disasters
