News & Analysis as of

Small Business Filing Deadlines

Ballard Spahr LLP

CFPB Announces the Beta Platform for Small Business Lending Data Reporting

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The CFPB announced the availability of its beta platform for the small business lending data collection rule pursuant to section 1071 of the Dodd-Frank Act....more

Bracewell LLP

Federal Judge Rules Corporate Transparency Act Is Unconstitutional: Takeaways and Next Steps

Bracewell LLP on

On March 1, 2024, the US District Court for the Northern District of Alabama granted summary judgment to Issac Winkles and the National Small Business Association (NSBA), holding that the Corporate Transparency Act (CTA) is...more

Snell & Wilmer

The Corporate Transparency Act is Deemed Unconstitutional: Small Business Advocacy Group Wins Challenge in Alabama

Snell & Wilmer on

A U.S. District Court in Alabama issued a major setback to efforts to detect and combat terrorism, money laundering, and other misconduct through small business entities. On March 1, 2024, the Northern District of Alabama...more

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit on the Chopping Block as Congress Mulls Tax and Spending Bills

The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) would terminate the employee retention credit (ERC) for claims filed after January 31, 2024. Initially authorized by the CARES Act to incentivize...more

Maynard Nexsen

SDVOSB Self-Certification Grace Period to Expire: Submit Applications by Dec 31 To Remain Eligible While Applications are Pending

Maynard Nexsen on

The 2023 clock is winding down, meaning some folks are planning New Year's Eve parties, and others are googling the lyrics to Auld Lang Syne. For service-disabled veteran-owned small businesses ("SDVOSB"), the end of the...more

Kohrman Jackson & Krantz LLP

FinCEN Proposes to Extend Filing Deadline for Beneficial Ownership Information in 2024

The Financial Crimes Enforcement Network (FinCEN) issued a proposal to amend the beneficial ownership information (BOI) reporting rule, which would extend the deadline for certain reporting companies to file their BOI...more

Bass, Berry & Sims PLC

UPDATE: 8(a) Reopens its Certify Site Welcoming New Applicants

Bass, Berry & Sims PLC on

On September 29, the Small Business Administration (SBA) reopened its Certify portal to new applicants seeking admittance into the SBA 8(a) program....more

Whitman Legal Solutions, LLC

FinCEN Proposes Extension of Deadline for New Company Corporate Transparency Act Reporting

Recognizing challenges with CTA compliance, on September 28, 2023, FinCEN recently proposed a rule (Proposed Rule) that would temporarily extend the time allowed for new companies to file reports. The Proposed Rule followed a...more

Bradley Arant Boult Cummings LLP

PPP Appeal Process Overview

In 2022, there will inevitably be an uptick in the number of appeals of Small Business Administration (SBA) loan decisions in the Paycheck Protection Program (PPP) context. This is due simply to the passage of time, to the...more

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #5

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Oberheiden P.C.

Eleven of the IRS's Enforcement Priorities During the 2021 Tax Season

Oberheiden P.C. on

It is tax season once again. While the Internal Revenue Service (IRS) has extended this year’s filing deadline to May 17, 2021 for individuals, businesses must still file by April 15, and all U.S. taxpayers must ensure that...more

Hinshaw & Culbertson LLP

PPP Deadline Extended, Preparing for Restaurant Revitalization Grants

PPP Deadline Extension - President Biden has signed legislation extending the Paycheck Protection Program (PPP) loan application filing deadline from March 31, 2021 to May 31, 2021. The legislation also gives the Small...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two – First Draw PPP Loans - Update #2

Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans - On January 6, 2021, the Small Business...more

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #3

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

ArentFox Schiff

Congress Extends PPP Application Period Until End of May

ArentFox Schiff on

On March 25, 2021, Congress passed the PPP Extension Act of 2021 (PPP Extension Act), to extend the application window for small businesses to apply for Paycheck Protection Program (PPP) loans by an additional two months....more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two – First Draw PPP Loans - Update

Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans - On January 6, 2021, the Small Business...more

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #2

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Gould + Ratner LLP

American Rescue Plan Act Expands PPP’s Reach

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Eligible borrower application deadline is March 31, 2021 - The voluminous, $1.9 trillion American Rescue Plan Act (ARPA) signed into law earlier this month, provides a couple of key modifications to the Paycheck...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two – First Draw PPP Loans

Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans - On January 6, 2021, the Small Business...more

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Schwabe, Williamson & Wyatt PC

PPP: Changes by the Biden-Harris Administration

On February 22, 2021, the Biden-Harris Administration and the Small Business Administration (“SBA”) announced the taking of certain steps with the Paycheck Protection Program (“PPP”) to further promote equitable relief for...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two - Update

Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) - Late on January 6, 2021, the Small Business...more

Schwabe, Williamson & Wyatt PC

Economic Aid Act: 10 Things to Know about Second Draw PPP Loans

Late on January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans”...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two

Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) - Late on January 6, 2021, the Small Business...more

Fox Rothschild LLP

URGENT: September 1 Deadline Looms For North Carolina Job Retention Grant Program

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Businesses and nonprofit organizations that experienced interruptions due to the COVID-19 pandemic may be eligible for relief funds through the North Carolina Department of Commerce and the Economic Investment Committee’s Job...more

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