On June 25, 2020, the U.S. Small Business Administration (“SBA”) posted a twenty-second Interim Final Rule on on Certain Eligible Payroll Costs. This Interim Final Rule addresses payroll costs that may be included on a Paycheck Protection Program ("PPP") loan application submitted by certain boat … [Read more...] about SBA Issues New Rule on Payroll Costs for Fishing Boat Owners
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SBA Will Release Borrower Data Regarding PPP Loans
On June 19, 2020, the United States Small Business Administration ("SBA") and the Department of the Treasury issued a Press Release indicating that they have agreed with the bipartisan leaders of the U.S. Senate Small Business Committee to publicly disclose additional borrower data related to … [Read more...] about SBA Will Release Borrower Data Regarding PPP Loans
SBA Issues Two Rules Revising PPP Eligibility Related to Felony Convictions
The U.S. Small Business Administration (“SBA”) posted two new interim final rules in June, modifying certain Paycheck Protection Program ("PPP") eligibility requirements related to applicants with criminal histories. These revisions specifically loosen restrictions on PPP loan eligibility … [Read more...] about SBA Issues Two Rules Revising PPP Eligibility Related to Felony Convictions
New York Issues Notice Regarding June Estimated Tax Payments
On the evening of June 11, 2020, the New York State Department of Taxation and Finance ("Tax Department") unexpectedly issued Notice N-20-8, Announcement Regarding June Estimated Tax Payments, indicating that the due date for estimated tax payments due on June 15, 2020, for personal income, … [Read more...] about New York Issues Notice Regarding June Estimated Tax Payments
SBA Issues New Rule Changing PPP Provisions to Reconcile with Flexibility Act
On June 11, 2020, the U.S. Small Business Administration (“SBA”) posted a seventeenth Interim Final Rule on Revisions to the First Interim Final Rule. This Interim Final Rule revises SBA’s interim final rule posted on April 2, 2020, by changing key provisions of the Paycheck Protection Program … [Read more...] about SBA Issues New Rule Changing PPP Provisions to Reconcile with Flexibility Act
SBA Issues New Rule on PPP Eligibility of Telephone Cooperatives
On June 5, 2020, the U.S. Small Business Administration (“SBA”) posted a sixteenth Interim Final Rule on Eligibility of Certain Telephone Cooperatives. This Interim Final Rule supplements the previously posted interim final rules by addressing the eligibility of mutual or cooperative telephone … [Read more...] about SBA Issues New Rule on PPP Eligibility of Telephone Cooperatives