SBA Releases $83 Million in RRF Funds

Just before Thanksgiving, the Small Business Administration (SBA) announced that it was releasing an additional $83 million in unused Restaurant Revitalization funds, some 18 months after the program officially closed. The monies have been earmarked for 169 restaurant operators in the order that their applications were received back when the program was operable. The US…

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IRS Issues Guidance on Early ERTC Termination

The Internal Revenue Service (IRS) has issued guidance for employers regarding the retroactive termination of the Employee Retention Tax Credit (ERTC). As you know, when it was first introduced as a part of the CARES Act back in 2020, the ERTC applied only to 2020 as it was scheduled to sunset on December 31, 2020.…

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Clock Ticking on PPP Forgiveness

As we look to our businesses rebounding further in 2022 and ensuring compliance with new mandates and ongoing business regulations, we must also keep one eye on the calendar for other deadlines and obligations. Toward that end, and for those of you who received a Paycheck Protection Program (PPP) loan from the 2nd draw, authorized…

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