On August 28, 2020, the Department of Treasury and Internal Revenue Service issued Notice 2020-65 implementing the Presidential Memorandum issued on August 8, 2020, allowing employers to defer withholding and payment of the employee's portion of the Social Security tax for the period September 1, … [Read more...] about IRS Issues Guidance on Payroll Tax Deferral
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SBA Issues New Rule on Treatment of Owners and Forgiveness of Certain Nonpayroll Costs
On August 24, 2020, the U.S. Small Business Administration (“SBA”) posted a twenty-fourth Interim Final Rule on Treatment of Owners and Forgiveness of Certain Nonpayroll Costs. This Interim Final Rule supplements previously posted interim final rules for the Paycheck Protection Program ("PPP") by … [Read more...] about SBA Issues New Rule on Treatment of Owners and Forgiveness of Certain Nonpayroll Costs
New Interim Final Rule Outlines Process for Appealing SBA Loan Review Decisions
On August 11, 2020, the U.S. Small Business Administration (“SBA”) posted a twenty-third Interim Final Rule on Appeals of SBA Loan Review Decisions Under the Paycheck Protection Program. This Interim Final Rule supplements the interim final rule on Loan Review Procedures and Related Borrower and … [Read more...] about New Interim Final Rule Outlines Process for Appealing SBA Loan Review Decisions
President Issues Executive Orders as Negotiations Over Relief Legislation Stall
On Saturday, August 8, 2020, President Trump signed four executive orders extending Coronavirus (COVID-19) pandemic relief provisions to millions of Americans, following the breakdown of negotiations between the White House and Democratic leaders over the next round of pandemic relief legislation on … [Read more...] about President Issues Executive Orders as Negotiations Over Relief Legislation Stall
SBA Issues New FAQs on PPP Loan Forgiveness
Updated on August 11, 2020 On August 4, 2020, the U.S. Small Business Administration ("SBA"), in consultation with the Department of the Treasury ("Treasury"), released new guidance in the form of Frequently Asked Questions ("FAQ"s) to address borrower and lender questions concerning forgiveness … [Read more...] about SBA Issues New FAQs on PPP Loan Forgiveness
New! Summer Small Business Newsletter
Click here to view a PDF of our new Summar 2020 Small Business Newsletter. We have focused this newsletter on COVID-19 relief programs and summarized all of the resources available to our clients and other businesses through the Tronconi Segarra & Associates' COVID-19 Resource Center on our … [Read more...] about New! Summer Small Business Newsletter