News

The Internal Revenue Service (“IRS”) issued guidance on tax credits for employers who pay for leave required under the Families First Coronavirus Response Act (“FFCRA”).  As part of this guidance, the IRS gave some detail on what records an employer should obtain from its employees who request paid leave under the FFCRA, stating in part as follows: An Eligible... read more

On March 31, 2020, the SBA issued initial guidance on the Paycheck Protection Program established under the CARES Act enacted May 27, 2020.  This guidance is available at at the US Small Business Administration website.   Among other information in this guidance the SBA provides that: With respect to the forgiveness of a paycheck protection loan, at least 75% of the... read more