News & Analysis as of

Paycheck Protection Program (PPP) Federal Loans Compliance

Arnall Golden Gregory LLP

PPP Loan Prosecutions Appear to Be in the Technical Non-Compliance Phase

On March 27, 2020, the CARES Act was signed into law to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic, including in the form of forgivable loans to small...more

Harris Beach PLLC

False Claims Act Enforcement Highlights Need for Robust Compliance Programs

Harris Beach PLLC on

The U.S. Department of Justice (“DOJ”) announced its False Claims Act (“FCA”) enforcement statistics for FY 2023 and identified key priorities for FCA enforcement in 2024 and beyond. The DOJ continues to pursue FCA...more

Rosenberg Martin Greenberg LLP

Reinforcing Compliance for the Paycheck Protection Program: What Recent Public and Political Developments Mean for Loan Recipients

Takeaway:  Recently implemented rules, public statements of government officials, and the return of funds by some should not compel most businesses to change course; however, recipients of funds from the Paycheck Protection...more

Dechert LLP

Government Stimulus Spending Likely to Lead to False Claims Act Investigations and Enforcement Actions

Dechert LLP on

Through the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), the federal government has passed an emergency stimulus package that will result in an unprecedented US$2 trillion infusion into the private and...more

Seyfarth Shaw LLP

Seyfarth Policy Matters Newsletter - April 2020 #3

Seyfarth Shaw LLP on

Congress Replenishes Paycheck Protection Program (PPP) Through its Phase Four Coronavirus Relief Package. On Tuesday, via unanimous consent, the Senate passed the Paycheck Protection Program Increase Act of 2020...more

Seyfarth Shaw LLP

Senate Passes Another Round of Coronavirus Relief to Replenish the Paycheck Protection Loan Program and Other Programs;...

Seyfarth Shaw LLP on

Summary - Late yesterday, the Senate passed the Paycheck Protection Program Increase Act of 2020. The measure appropriates a total of $484 billion, mainly to refund the Paycheck Protection Program (PPP), but also to provide...more

Holland & Knight LLP

The CARES Act and Independent Schools: Compliance with Federal Laws After Taking Federal Loans | Insights

Holland & Knight LLP on

Following the outbreak of the novel coronavirus (COVID-19), the federal government has provided financial assistance opportunities that may be available to private elementary and secondary independent schools under the...more

Foley & Lardner LLP

CARES Act: Non-Profit Employers’ Obligation for Unemployment Benefits Reimbursement

Foley & Lardner LLP on

Under the CARES Act (Coronavirus Aid, Relief, and Economic Security Act), the federal government will pay 50% of the reimbursable unemployment benefits from March 13, 2020 through December 31, 2020 for those non-profit...more

Foley & Lardner LLP

Furloughs, Workforce Reductions, and Facility Closures Due to Coronavirus: Important Defined Benefit Plan Reporting Obligations

Foley & Lardner LLP on

Employers face unique legal and financial challenges in connection with the COVID-19 pandemic. One such challenge includes the impact of a potential furlough, workforce reduction, or facility closures on benefit plan...more

Chambliss, Bahner & Stophel, P.C.

CARES Financial Relief for Health Care Providers

The CARES Act adds $100 billion to the “Public Health and Social Services Emergency Fund” to reimburse “eligible health care providers” for “health care-related expenses or lost revenues that are attributable to Coronavirus.”...more

Chambliss, Bahner & Stophel, P.C.

CARES Relief for State and Local Governments

The CARES Act establishes a $500 billion loan program accessible by cities, states, and businesses, while also providing for more than $250 billion in direct funding to state and local governments. The majority of the direct...more

ArentFox Schiff

IRS Clarifies Interaction of Payroll Tax Deferral with PPP Loan Forgiveness Under CARES Act

ArentFox Schiff on

On April 10, the Internal Revenue Service published responses to frequently asked questions with respect to the payroll tax deferral provisions of the CARES Act, including clarification that employers that take loans under...more

Snell & Wilmer

CARES Act Appropriates $100 Billion for Healthcare Providers

Snell & Wilmer on

With the passage of the CARES Act, $100 billion has been appropriated to the Public Health and Social Services Emergency Fund (“PHSSEF”), to be administered by a small agency within the Department of Health and Human Services...more

Snell & Wilmer

CMS’s Advance Payment Program Could Provide Short-Term Relief for Providers with Cash Flow Concerns During the COVID-19 Crisis

Snell & Wilmer on

Centers for Medicare and Medicaid Services (CMS) has expanded its advance payment program in light of COVID-19. As noted in the CMS press release, the program provides for a short term loan of advance Medicare payments...more

Sheppard Mullin Richter & Hampton LLP

Answers for Nonprofits Seeking Relief under the CARES Act

In this time of crisis, nonprofits of all shapes and sizes have been scrambling to obtain assistance under the federal CARES Act. Sheppard Mullin’s Nonprofit Team is grateful for the special opportunity to help by partnering...more

King & Spalding

False Claims Act Considerations Related to the CARES Act's Small Business Administration Loan Program

King & Spalding on

On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act, which authorized $2.2 trillion to, among other things, help companies and individuals mitigate the financial repercussions...more

Pillsbury Winthrop Shaw Pittman LLP

Texas: State and Local COVID-19 Social Distancing Measures

Aiming to protect public health within a large and diverse geography and an independent-minded culture, Texas responds to the COVID-19 pandemic with an evolving patchwork of state and local social distancing orders. To date,...more

Pillsbury Winthrop Shaw Pittman LLP

The Treasury Loan Window Is Opening: Are You Ready?

With $454 billion about to be distributed, interested companies need to be prepared. The Treasury Department is nearly ready to begin granting loans and other support to mid- to large -sized companies, municipalities and...more

Harris Beach PLLC

New York Budget Bill Includes Changes in Employee Leave Law

Harris Beach PLLC on

It might not be business as usual, but business in New York goes on even as the state grapples with the coronavirus pandemic. New York State’s annual budget bill, signed by Gov. Cuomo on April 3, contains amendments to New...more

Pillsbury Winthrop Shaw Pittman LLP

CARES Act Planning Opportunities for Retirement Accounts and Charitable Giving

Taking advantage of retirement account planning and charitable giving opportunities created under the new stimulus package. Required Minimum Distributions are waived for 2020, allowing further income tax deferral until at...more

Mitchell, Williams, Selig, Gates & Woodyard,...

CARES Act – Large Enough to Help Medium-sized Businesses

A lot of attention has surrounded the relief provided to individuals and small businesses under the Coronavirus Aid, Relief and Economic Security Act (CARES Act) signed by the president on March 27, 2020. But medium-sized...more

King & Spalding

CARES Act Summary: What It Means for Nonprofits

King & Spalding on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law on March 27, 2020 provides a $2 trillion economic stimulus package to offset the hardship that businesses are experiencing in connection with...more

Harris Beach PLLC

Summary of Key Tax Provisions for Businesses Under CARES Act

Harris Beach PLLC on

The following is a summary of certain key tax provisions relevant to businesses outlined in the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act"-- H.R. 748). The CARES Act provides financial support to...more

Proskauer - The Capital Commitment

Coronavirus Disruption: Regulatory and Litigation Risks for Private Fund Managers

The impact of the global coronavirus (COVID-19) outbreak has been rapidly evolving, causing disruption in global commerce across a wide range of industries. Private fund managers are not immune to the disruption...more

Mitchell, Williams, Selig, Gates & Woodyard,...

UPDATE: New Regulations Define Broadly Health Care Providers Excluded from Paid Expanded Medical Leave and Paid Sick Leave...

In the wake of phase three of coronavirus relief in the form of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), lawmakers are discussing phase four. For this update, however, we go back to phase two, the...more

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