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Senate
Senate Unveils $1 Trillion “HEALS Act” Coronavirus Relief Package 400 400 SAX - Advisory, Audit and Accounting

Senate Unveils $1 Trillion “HEALS Act” Coronavirus Relief Package

Following weeks of speculation and negotiations, the Senate released its latest coronavirus relief package on Monday, July 27, 2020.  Dubbed the “HEALS Act”, this $1 trillion GOP economic and stimulus package should serve as the starting point for Congressional negotiations as common ground between the Senate and the House of Representatives’ $3 trillion HEROES Act…

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Q&A: Net Investment Income (III) Tax Protective Refund Claims 150 150 SAX - Advisory, Audit and Accounting

Q&A: Net Investment Income (III) Tax Protective Refund Claims

Our July 7 article, “Net Investment Income (III) Tax Protective Refund Claims”, discussed  the potential filing of protective claims for the 2016 tax year.   Based on questions we have received so far, this article provides some additional insight on this topic. What does the opportunity to file a protective claim pertain to? The Supreme Court…

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Federal Reserve
The Main Street Lending Program is Now Available For Non-Profits 400 400 SAX - Advisory, Audit and Accounting

The Main Street Lending Program is Now Available For Non-Profits

The Federal Reserve has recently announced that the Main Street Lending Program is now available for non-profit organizations seeking COVID-19 relief. On July 17, 2020, final terms were released for two new loan options created to provide support to a broad set of non-profit organizations, including hospitals, educational institutions and social service organizations – the…

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Healthcare
Dentists Have Until July 24 to Apply for the Provider Relief Fund 400 400 SAX - Advisory, Audit and Accounting

Dentists Have Until July 24 to Apply for the Provider Relief Fund

The U.S. Department of Health and Human Services (HHS) recently announced it will now allow dentists and other dental providers to apply for relief from the Public Health and Social Services Emergency Fund (Provider Relief Fund) which they were previously ineligible for. Under the program, eligible dentists can receive reimbursement amounts equal to 2% of…

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PPP
Paycheck Protection Program (PPP) Gets a 5-week Application Extension 600 600 SAX - Advisory, Audit and Accounting

Paycheck Protection Program (PPP) Gets a 5-week Application Extension

On July 4, 2020, a five-week extension of the Paycheck Protection Program (PPP) was officially passed, extending the application deadline to August 8 (previously set to close on June 30).  The extension allows companies more time to apply for federal assistance for COVID-19 relief. Approximately $130 billion in PPP funding remains in the program, after…

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New SBA Guidance
PPP Loan Forgiveness Update: SBA Issues New Interim Final Rule to Provide Additional Guidance Surrounding Loan Forgiveness 400 400 SAX - Advisory, Audit and Accounting

PPP Loan Forgiveness Update: SBA Issues New Interim Final Rule to Provide Additional Guidance Surrounding Loan Forgiveness

On June 22, 2020, the Small Business Administration (SBA) issued its latest Interim Final Rule, providing borrowers and lenders with additional guidance surrounding the Paycheck Protection Program (PPP) loan forgiveness process.  While questions and open items remain, we have been provided with clarity on the items listed below:   Timeline for Application for Loan Forgiveness…

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Watch the June CFO Focus – Technology Transformation: Creating Successful Change 150 150 SAX - Advisory, Audit and Accounting

Watch the June CFO Focus – Technology Transformation: Creating Successful Change

In case you missed June’s CFO Focus, here is a recording of the webinar and presentation slide deck.  This informative conversation featured guest speaker Carl Van Dusen, President of Sax’s Technology Division, S2 Technology Solutions, and addressed cutting edge trends to strategically scale business operations with the proper technology investment. As technology advances at rates…

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Main Street Landing Program
Main Street Lending Program is Now Live 400 400 SAX - Advisory, Audit and Accounting

Main Street Lending Program is Now Live

On Monday, June 15, the Federal Reserve officially launched the Main Street Lending Program, a series of loan facilities aimed at supporting small to medium sized businesses combating the coronavirus pandemic. Interested and eligible borrowers are encouraged to contact their lending institutions for additional guidance, including the application requirements. Officially announced by the Federal Reserve…

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