COVID-19 Business Resources

New PPP Update: SBA Releases Guidance on Loan Forgiveness Application Interpretations

New PPP Update: SBA Releases Guidance on Loan Forgiveness Application Interpretations 400 400 SAX - Advisory, Audit and Accounting

The Small Business Administration (SBA) issued two Interim Final Rules on Friday, May 22, 2020.

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PPP Certification Requirements Update: Deadline to Return Funds Extended to May 18, 2020

PPP Certification Requirements Update: Deadline to Return Funds Extended to May 18, 2020 600 600 SAX - Advisory, Audit and Accounting

The Paycheck Protection Program (PPP) certification requirements have been front and center in the minds of potential borrowers. To recap, SBA FAQ #31 augments the existing borrower good faith certification that…

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House of Representatives Unveils The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act

House of Representatives Unveils The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act 400 400 SAX - Advisory, Audit and Accounting

On May 12, 2020, the House of Representatives released a $3 trillion, phase four economic relief package.  Dubbed “The HEROES Act”, The Health and Economic Recovery Omnibus Emergency Solutions Act…

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PPP Certification Requirements Update: Deadline to Return Funds Extended to May 14, 2020

PPP Certification Requirements Update: Deadline to Return Funds Extended to May 14, 2020 600 600 SAX - Advisory, Audit and Accounting

The Paycheck Protection Program (PPP) certification requirements have been front and center in the minds of potential borrowers.  To recap, the SBA’s recently released FAQ #31 augments the existing borrower…

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Main Street Lending Program: Federal Reserve Updates Terms, Increasing Funding Availability and Borrower Eligibility

Main Street Lending Program: Federal Reserve Updates Terms, Increasing Funding Availability and Borrower Eligibility 400 400 SAX - Advisory, Audit and Accounting

On April 9, 2020, the Federal Reserve released terms surrounding the Main Street Lending Program, part of a historic $2.3 trillion loan and liquidity package designed to aid households and small businesses, as well as state and local governments.

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PPP Update: IRS Provides Guidance Regarding the Tax Deductibility of Expenses Paid with PPP Funds

PPP Update: IRS Provides Guidance Regarding the Tax Deductibility of Expenses Paid with PPP Funds 600 600 SAX - Advisory, Audit and Accounting

On April 30, 2020, the Internal Revenue Service (IRS) released Notice 2020-32, providing clarity surrounding the federal tax implications of funds received under the Paycheck Protection Program (PPP).  Specifically, the…

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Additional PPP Certification Requirements

Additional PPP Certification Requirements 400 400 SAX - Advisory, Audit and Accounting

In a continuing effort to clarify the questions and uncertainties surrounding the Payroll Protection Program (PPP), the SBA issued another set of FAQs on Thursday, April 23, 2020.

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Alert: More Funding Added Under “CARES 2” for Businesses Impacted by COVID-19

Alert: More Funding Added Under “CARES 2” for Businesses Impacted by COVID-19 400 400 SAX - Advisory, Audit and Accounting

The President signed the “Paycheck Protection Program and Health Care Enhancement Act” on April 24, 2020. The Act dubbed as “CARES 2” provides for additional funding to the tune of…

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Greater Transfer of Wealth and Alternative Valuation Dates

Greater Transfer of Wealth and Alternative Valuation Dates 400 400 SAX - Advisory, Audit and Accounting

The COVID-19 pandemic has created much uncertainty related to the future cash flow of businesses, their ability to pay debt obligations, and even their survival.  However, from another perspective, this…

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Federal Reserve Takes Historic $2.3 Trillion Action to Stimulate Economy

Federal Reserve Takes Historic $2.3 Trillion Action to Stimulate Economy 400 400 SAX - Advisory, Audit and Accounting

On April 9th, the Federal Reserve committed an additional $2.3 trillion in funds to further stimulate the economy as we continue to battle the COVID-19 pandemic.  Aimed primarily at households…

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SAX - Advisory, Audit and Accounting