News

On Friday March 27, 2020, the President signed into law, the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748) or “CARES Act,” providing for, among other things, a refundable payroll tax credit for 50% of wages paid (up to $10,000 in wages per employee) by eligible employers to certain employees (the “Employee Retention Credit”). On March 31, 2020, in notice... 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

On Friday March 27, 2020, the President signed into law, the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748) or “CARES Act,” providing about $2 trillion to individuals, businesses, and states, among others, in response to the coronavirus pandemic. This Client Alert discusses some of the small business bridge loan provisions, tax relief provisions and financial support... read more