The Small Business Administration (SBA) issued two Interim Final Rules on Friday, May 22, 2020.
read moreThe Financial Accounting Standards Board (FASB) voted on Wednesday, May 20th, to delay the effective date of the revenue recognition and leases standards for certain entities. An Accounting Standards Update is being drafted and will be approved at a later date. Here are the main updates to the standards’ effective dates: The revenue recognition standard…
read moreOur day-to-day business models have been drastically disrupted from COVID-19, and as a result, our workplaces may not look the same for quite some time. As businesses begin to plan to re-enter their workplaces, there are many important factors to consider from a safety and legal standpoint. We invite you to join us for our…
read moreOn May 15, the House passed H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act providing over $3 trillion to federal agencies, state and local governments, small businesses, and individuals. It does not appear that the bill will pass in the Senate and the President has said he will veto it. Key…
read moreOn May 18, 2020, the Small Business Administration (SBA) issued an additional Interim Final Rule surrounding certain circumstances in which aggregated affiliated borrower employee headcount exceeds 500. Provided the PPP funding was applied for prior to May 5, 2020, borrower eligibility will not be impacted if the headcount calculation only included U.S. based affiliated employees…
read moreOn May 15, 2020, the Small Business Administration (SBA), in consultation with the Treasury Department, released the Paycheck Protection Program (PPP) Loan Forgiveness Application Form. A complete copy of the application form can be found here. The release of the application form answers a number of questions impacting the PPP borrowing community. While the government…
read moreThe SBA issued an additional Interim Final Rule on May 14, 2020. This latest Interim Final Rule includes a provision that allows qualifying partnerships to increase the amount of their existing PPP loans for the self-employment income of partners that was excluded from the initial loan application. Due to the initial confusion regarding whether the…
read moreWe invite you to watch our informative Real Estate webinar as we review the specific tax provisions and incentives in the CARES Act that benefit owners and operators.
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