PPP – Phase IV Stimulus Updates, Forgiveness, Second Draw Loans – Webinar Recording

Feb 5 2021

On January 19th, Steven Mizrach joined Morgan Nighan from Nixon Peabody to discuss the latest PPP loan options. The recording from the session along with the slides are now available. If you have any questions or need any assistance understanding ...

Highlights of New Federal Stimulus Package

Jan 15 2021

As many of you have heard by now, last week Congress approved The Consolidated Appropriations Act, 2021  which provides emergency assistance and health care response for individuals, families and businesses as a result of the Coronavirus (COVID-19) pandemic. The Act ...

Treasury Provides Guidance On Tax Ramifications of PPP Forgiveness

On November 19th, the US Treasury Department issued a Revenue Ruling 2020-27 reiterating  that expenses paid with PPP (Paycheck Protection Program) Loan proceeds that are forgiven will not be tax deductible. Additionally, the Ruling clarifies the tax treatment for Companies ...

SBA Simplifies PPP Loan Forgiveness for Loans Under $50,000

Nov 1 2020

Last week the SBA issued additional guidance for Companies that received PPP loans of $50,000 or less, whereby they would no longer be subject to the penalty provisions of the forgiveness calculation  for reductions in their FTE employee headcount as ...

SBA RELEASES UPDATED GUIDANCE REGARDING PPP TREATMENT OF OWNERS AND FORGIVENESS OF RENT

Sep 1 2020

Last week the SBA issued additional guidance regarding who is considered an owner for purposes of determining  compensation that is eligible for forgiveness as well as the types of rent that are  considered qualifying nonpayroll costs. Owners Owners of C ...

HHS Announces Over $4 Billion in Additional Relief Payments to Healthcare Providers Impacted by the Coronavirus Pandemic

Jul 20 2020

On July 10, 2020 the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), announced approximately $3 billion in funding to hospitals serving a large percentage of vulnerable populations on thin margins and approximately $1 ...