Dan Eller at Schwabe, Williamson & Wyatt PC

Oregon CAT: Oregon Department of Revenue Releases Anticipated Draft Rules

On October 26, 2020, the Oregon Department of Revenue (“DOR”) released two anticipated Oregon Corporate Activity Tax (“CAT”) draft rules: OAR 150-317-1310 (Estimated Tax Payments: Delinquent or Underestimated Payment or Both,...more

10/28/2020 / Commercial Activity Tax , Corporate Taxes , Department of Revenue , Governor Brown , New Legislation , Public Comment , State and Local Government , State Taxes

Oregon Department of Revenue to Allow Paper Returns and Documents to be Signed via Facsimile

On October 13, 2020, the Oregon Department of Revenue (“DOR”) issued a temporary administrative order amending OAR 150-305-0460 to allow paper returns, statements, or documents to be signed through a facsimile method. A...more

10/16/2020 / Coronavirus/COVID-19 , Department of Revenue , Faxes , Income Taxes , IRS , Signatures , State and Local Government , State Taxes , Tax Returns

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #5

Below are the ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020. There are...more

10/12/2020 / Applications , CARES Act , Coronavirus/COVID-19 , Eligibility , Executive Compensation , Interim Final Rules (IFR) , Loan Forgiveness , Paycheck Protection Program (PPP) , Payroll Expenses , Relief Measures , Retirement , SBA , Seasonal Workers , Small Business , Small Business Loans

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #3

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

10/12/2020 / CARES Act , Change of Ownership , Coronavirus/COVID-19 , Loan Forgiveness , Paycheck Protection Program (PPP) , Paycheck Protection Program Flexibility Act of 2020 (PPPFA) , Payroll Expenses , Relief Measures , Required Documentation , Safe Harbors , SBA , SBA Lending Programs , Small Business , Tax Deferral

PPP Loans and Changes of Ownership, Asset Transactions, and Mergers

Effective October 2, 2020, the Small Business Administration (SBA) issued an SBA Procedural Notice regarding Paycheck Protection Program (“PPP”) loans and changes of ownership (the “Notice”). The Notice is addressed to SBA...more

10/9/2020 / Approval Requirements , Borrowers , Change of Ownership , Employees , Lenders , Mergers , Paycheck Protection Program (PPP) , Paycheck Protection Program Lending Facility (PPPLF) , SBA , Transfer of Assets

Estate Planning and Business Transition Issues Not to Overlook Before the Year-End

Believe it or not, we are now in the final stretch of 2020. There are many things still to do and plan for before the end of the year. When reviewing your year-end estate planning or business transition concerns, there are...more

10/7/2020 / Business Taxes , Charitable Donations , Estate Planning , Gift Tax , Paycheck Protection Program (PPP) , Year-End Planning , Year-End Tax Planning

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #2

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

10/5/2020 / Borrowers , CARES Act , Coronavirus/COVID-19 , Loan Forgiveness , Paycheck Protection Program (PPP) , Paycheck Protection Program Flexibility Act of 2020 (PPPFA) , Relief Measures , Safe Harbors , SBA , SBA Lending Programs , Small Business , Time Extensions

Oregon Department of Revenue Provides Tax Relief for Victims of Oregon Wildfires

On September 21, 2020, we outlined in this article relief the IRS provided with respect to certain victims of recent Oregon wildfires. On September 30, 2020, the Department of Revenue (“DOR”) followed the IRS, providing...more

10/1/2020 / Department of Revenue , Eligibility , IRS , Popular , State and Local Government , Tax Relief , Wildfires

Oregon CAT: DOR to Hold Public Hearings in October 2020 and November 2020 on Draft Rules

On September 25, 2020, we attended a virtual meeting with the Oregon Department of Revenue (“DOR”). During that meeting, the DOR stated that it plans to hold two public hearings on 10 CAT rules before the end of the...more

9/29/2020 / Agricultural Sector , Commercial Activity Tax , Department of Revenue , Farms , IRS , Motor Carriers , Proposed Rules , Public Hearing , Sales Tax , State and Local Government , State Taxes

Oregon CAT: The DOR Issues Draft Rules Regarding the Sourcing of Motor Carrier Transportation Services and Farming Operations

On September 23, 2020, the Oregon Department of Revenue (“DOR”) issued two new draft rules regarding the Oregon Corporate Activity Tax (“CAT”). Sourcing of Motor Carrier Transportation Services (OAR 150-317-1070) - This...more

9/25/2020 / Agricultural Sector , Commercial Activity Tax , Corporate Taxes , Department of Revenue , Farms , Motor Carriers , Sales , State Taxes

IRS Provides Tax Relief for Victims of Oregon Wildfires

On September 17, 2020, the IRS postponed various tax filing and payment deadlines for victims of the Oregon wildfires. Who Is Eligible? - Individuals in any area designated by the Federal Emergency Management Agency as...more

9/22/2020 / Filing Deadlines , Income Taxes , IRS , Natural Disasters , State and Local Government , Tax Relief , Tax Returns , Time Extensions , Wildfires

Department of Treasury Issues Guidance Regarding Payroll Tax Deferral

On August 28, 2020, the Department of Treasury (“Treasury”) responded to the White House’s Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster dated August 8, 2020 (the “Memorandum”) by...more

9/1/2020 / Coronavirus/COVID-19 , HM Treasury , Memorandum of Guidance , Payroll Taxes , Tax Deferral

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #4

Below are the top ten things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more

8/28/2020 / Applications , Borrowers , CARES Act , Coronavirus/COVID-19 , Employer Group Health Plans , FTEs , Loan Forgiveness , New Guidance , Paycheck Protection Program (PPP) , Paycheck Protection Program Flexibility Act of 2020 (PPPFA) , Retirement Plan , Safe Harbors , SBA , Seasonal Workers

Tribal Entities and the Main Street Lending Program

On August 4, 2020, the Federal Reserve presented on the use of the Main Street Lending Program by Tribal Entities (as defined below). While the presentation was in large part a summary of the already well-known components of...more

8/20/2020 / CARES Act , Coronavirus/COVID-19 , Economic Injury Disaster Loans , Federal Reserve , Main Street Expanded Loan Facility , Main Street Lending Programs , Main Street Priority Loan Facility , Paycheck Protection Program (PPP) , Tribal Corporations , Tribal Governments

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #3

Below are the top ten things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more

8/20/2020 / Applications , Borrowers , CARES Act , Coronavirus/COVID-19 , Employer Group Health Plans , FTEs , Loan Forgiveness , New Guidance , Paycheck Protection Program (PPP) , Paycheck Protection Program Flexibility Act of 2020 (PPPFA) , Retirement Plan , Safe Harbors , SBA , Seasonal Workers

Oregon Department of Revenue Finalizes Second Set of Permanent Oregon Corporate Activity Tax Rules, and Other Tax Updates

Newly Issued Permanent Rules On July 23, 2020, the Oregon Department of Revenue (“DOR”) issued the second set of permanent rules related to the Oregon Corporative Activity Tax (“CAT”). The DOR issued four permanent rules, all...more

8/18/2020 / Agricultural Sector , Commercial Activity Tax , Corporate Taxes , Department of Revenue , Financial Institutions , Governor Brown , Legislative Agendas , Rulemaking Process , State and Local Government , State Taxes , Wholesale