Category: COVID-19
Coronavirus Aid, Relief and Economic Security Act
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, P.L. 116-136 (the “CARES Act” or the “Act”). The legislation is intended to provide relief for individuals and businesses that have been negatively impacted by the coronavirus outbreak. Below are summaries of the…
SBA Provides Small Business Guidance
The U.S. Small Business Administration has issued initial guidance regarding the Paycheck Protection Program (the “PPP”), a keystone of the legislative response to the Coronavirus (COVID-19) pandemic. The PPP provides loans designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA will…
IRS announces People First Initiative in response to COVID-19 Pandemic
On March 25, 2020, the Internal Revenue Service announced the “People First Initiative” that will assist taxpayers by providing relief on a variety of tax collection and enforcement issues. Installment Agreements For taxpayers under an existing Installment Agreement with the IRS, payments due between April 1 and July 15, 2020…