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Late last week, the Treasury Department and Internal Revenue Service issued long-awaited proposed regulations (IR-2020-78) to outline the application of Section 512(a)(6) of the Internal Revenue Code established by Congress in December of 2017 as part of the Tax Cuts and Jobs Act.

The Paycheck Protection Program and Health Care Enhancement Act (COVID-19 Phase 3.5) was signed into law on April 24, 2020 by President Donald Trump.

On April 23, Congress passed, and the President has indicated he will sign, legislation providing another round of funding for the Paycheck Protection Program (“PPP”) and Economic Injury Disaster Loans (“EIDL”).

In today’s market, there is a wide variety of video conferencing software options to choose from to meet your business needs, especially during the time of COVID-19.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was approved on March 27, 2020, and included a $100 billion distribution from the Public Health and Social Services Emergency Fund (Fund) to prevent, prepare for, and respond to COVID-19.

Our articles related to COVID-19 matters are updated routinely as more guidance from the IRS, the SBA, and other authoritative sources is provided. A list of our April 14 updates are provided here.

On April 9, the Federal Reserve announced an additional loan program for small and mid-sized businesses called the Main Street Lending Program (MSLP).