On December 27, 2020, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. The Act includes both COVID-Related Tax Relief Act of 2020 (“COVIDTRA”) which enhances and expands certain provisions of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and… Read More »How the Consolidated Appropriations Act of 2021 Impacts Taxation of Businesses
The Federal Reserve launches the Main Street Lending Program to complement the efforts to stimulate the economy through the survival of businesses, amidst prolonged losses and job cuts brought about by COVID-19. It is undeniable that the outbreak of pandemic COVID-19 has greatly affected not… Read More »Main Street Lending Program Serves as an Alternative to PPP Funds Main Street
On June 5, 2020, President Trump has signed the PPP Flexibility Act (“PPPFA” or the “Act”) after unanimous approval of the Senate on June 3, 2020. Numerous changes are applied to the PPP Forgiveness Stipulations, which are expected to ease requirements and support the entire… Read More »Paycheck Protection Program (“PPP) Forgiveness Eligibility Changes After Approval of Flexibility Act
The approval of the 2nd round of funding for CARES Act economic relief programs replenishes the pot for Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), and related Advance Grant. Small businesses are encouraged to seize the opportunity to apply. Note: This article is… Read More »MUST READ: 2nd Round of CARES Act Funding
In response to the ongoing situation due to COVID-19, the Department of Treasury and Internal Revenue Service announced that additional key tax deadlines for individuals and businesses are extended. The notice expands this relief to additional returns, tax payments, and other actions. As a result, the extensions… Read More »IRS Extends More Tax Deadlines Due to Covid-19
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed by President Donald Trump on March 27, with the objective to combat COVID-19’s crippling effect in the US Economy. The Act provides multiple benefits for American families, individuals, and businesses, that ranges across tax,… Read More »CARES Act – Regulatory Relief for Individuals, Families, and Businesses
