On June 3, 2020, the U.S. Senate passed by voice vote the Paycheck Protection Program (PPP) Flexibility Act of 2020 (H.R. 7010). The House of Representatives had approved this bill with near unanimity on May 28. Generally,...more
On May 22, 2020, the SBA and Department of the Treasury issued two Interim Final Rules implementing the Paycheck Protection Program (PPP) provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The...more
On May 15, 2020, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application accompanied by detailed instructions....more
The Internal Revenue Service (IRS) and Joint Committee on Taxation have issued new guidance to help clarify employer requirements for claiming the Employee Retention Credit (ERC) under the Coronavirus Aid, Relief, and...more