New COVID-19 Relief Bill includes key changes to the Paycheck Protection Program (PPP), including making second loans available to certain businesses, and clarifies that forgiven PPP loans will be tax deductible.
The new...more
12/28/2020
/ Business Expenses ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
IRS ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
SBA ,
Tax Deductions
Congress passed a continuing resolution that extends the authorization for agencies to reimburse contractors under Section 3610 of the CARES Act until December 11, 2020.
Unless agency-specific guidance states otherwise,...more
While GAO does not make any recommendations in its report, it provides a useful overview of the federal government’s implementation of Section 3610.
Agencies made relatively little use of their Section 3610 authority...more
9/11/2020
/ CARES Act ,
Contractors ,
Department of Defense (DOD) ,
Department of Energy (DOE) ,
Department of Health and Human Services (HHS) ,
Department of Homeland Security (DHS) ,
Department of Veterans Affairs ,
Federal Acquisition Regulations (FAR) ,
Federal Procurement Systems ,
Final Rules ,
GAO ,
General Services Administration (GSA) ,
NASA ,
New Guidance ,
OMB ,
Reimbursements ,
Relief Measures ,
Stop Work Orders
On May 5, 2020, the Small Business Administration (SBA) and the Treasury Department extended by one week the “safe harbor” for CARES Act Paycheck Protection Program (PPP) applicants to return their loans in the event that the...more
Under retroactive guidance issued by SBA and the Treasury Department on April 23, 2020, CARES Act Paycheck Protection Program (PPP) applicants must consider their access to alternative sources of liquidity before certifying...more
4/28/2020
/ Borrowers ,
CARES Act ,
Certification Requirements ,
Federal Register ,
Good Faith ,
Interim Final Rules (IFR) ,
Liquidity ,
New Guidance ,
Paycheck Protection Program (PPP) ,
SAFE ,
SBA ,
U.S. Treasury