Last Friday night, the Small Business Administration (SBA) issued an Interim Final Rule (IFR) to govern the forgivability of Paycheck Protection Program (PPP) loans. The IFR provides that forgiveness is available for payroll costs, including bonuses and hazard pay, paid OR incurred during the Payroll Covered Period for employees up to the compensation ceiling of…
Read More »A number of states as well as local communities have begun offering their own loan programs to help businesses recover from the coronavirus shutdowns. For example, New York Governor Andrew Cuomo announced the creation of a new $100 million loan program this past week entitled the New York Forward Loan Fund. Monies from the fund…
Read More »Republican Senate Majority Leader Mitch McConnell last night filed a third economic stimulus bill in an ongoing effort to mitigate the fallout from the coronavirus pandemic that has ravaged the American economy. The legislation, which has the support of the White House, provides for the direct payment of $1200 to all Americans earning less than…
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