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NJEDA Defers Pre-Registration Date for Phase 2 of the Small Business Emergency Assistance Loan Program 400 400 SAX - Advisory, Audit and Accounting

NJEDA Defers Pre-Registration Date for Phase 2 of the Small Business Emergency Assistance Loan Program

The New Jersey Economic Development Authority (NJEDA) recently announced that the date for pre-registration for Phase 2 of its Small Business Emergency Assistance Loan Program, which was originally scheduled to open on February 10, 2021, has been deferred.  The NJEDA has yet to announce the new pre-registration date. Designed to deliver low-cost, flexible financing, loans…

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JOIN THE WEBINAR: MAXIMIZING TAX DEFERRAL OPPORTUNITIES THROUGH EMPLOYER RETIREMENT OFFERINGS 150 150 SAX - Advisory, Audit and Accounting

JOIN THE WEBINAR: MAXIMIZING TAX DEFERRAL OPPORTUNITIES THROUGH EMPLOYER RETIREMENT OFFERINGS

WEDNESDAY, FEBRUARY 17 | 2:00 – 3:00 PM REGISTER HERE

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Qualified Opportunity Fund
IRS Extends Additional Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Pandemic 400 400 SAX - Advisory, Audit and Accounting

IRS Extends Additional Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Pandemic

Quick Recap On the evening of January 19, the IRS issued Notice 2021-10 that provides additional relief by extending certain deadlines for investing in Qualified Opportunity Funds (“QOFs”) and relaxed certain investment requirements for operators of QOFs.[i] These changes are intended to make it easier for QOFs and investors to manage QOF deferrals in light…

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Addressing Your Questions on COVID-19 Loan Programs and Forgiveness Strategies 150 150 SAX - Advisory, Audit and Accounting

Addressing Your Questions on COVID-19 Loan Programs and Forgiveness Strategies

Sax’s Recovery Task Force was created to provide the business community with vital information and resources to get on the road to recovery during this disruptive pandemic.  We’ve received a good amount of information on the active relief programs implemented to help us regain our strength – but there is still much clarity needed. We…

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Paycheck Protection Program Borrower Application Form
SBA RELEASES REVISED PPP LOAN FORGIVENESS APPLICATION FOR BORROWERS WITH LOANS OF $150,000 OR LESS 400 400 SAX - Advisory, Audit and Accounting

SBA RELEASES REVISED PPP LOAN FORGIVENESS APPLICATION FOR BORROWERS WITH LOANS OF $150,000 OR LESS

On January 19, 2021, the Small Business Administration (SBA) released the revised Form 3508S for First Draw and Second Draw Paycheck Protection Program (PPP) borrowers seeking forgiveness on loans of $150,000 or less.  As detailed in the Consolidated Appropriations Act, 2021, this one-page form provides a simplified loan forgiveness process for borrowers meeting this loan…

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Paycheck Protection Program
SBA and Treasury Issue Guidance for First Draw and Second Draw PPP Borrowers 400 400 SAX - Advisory, Audit and Accounting

SBA and Treasury Issue Guidance for First Draw and Second Draw PPP Borrowers

With the recent re-opening of the Paycheck Protection Program (PPP) portals for all borrowers, the Small Business Administration (SBA), in conjunction with the U.S. Treasury Department, has been busy issuing guidance to borrowers covering a number of different topics.  Notably, the SBA issued the following (PPP) FAQs[1]: How to Calculate Maximum Loan Amounts for First…

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Join the Webinar: Reporting Requirements for HHS Provider Relief Fund 150 150 SAX - Advisory, Audit and Accounting

Join the Webinar: Reporting Requirements for HHS Provider Relief Fund

The Department of Health and Human Services’ (HHS) Provider Relief Funding (PRF) reporting portal has officially opened for eligible healthcare providers. Providers are required to register on the reporting portal at this time. The portal is not yet available to accept reporting information as previously anticipated. Providers who received one or more Provider Relief Fund…

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SBA WILL RE-OPEN PPP TO SMALL LENDERS ON JANUARY 15 AND ALL LENDERS ON JANUARY 19 150 150 SAX - Advisory, Audit and Accounting

SBA WILL RE-OPEN PPP TO SMALL LENDERS ON JANUARY 15 AND ALL LENDERS ON JANUARY 19

On January 13, 2021, the Small Business Administration (SBA) and U.S. Department of Treasury announced that the Paycheck Protection Program will re-open its portal for eligible lenders to apply for either the first or second draw of the loan. The portal will open within the following two stages: Friday, January 15, 2021: Lenders with $1…

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