Author: Hand Arendall Harrison Sale
IRS Declares that Expenses Paid with PPP Loan Proceeds Are Not Deductible
Click here for a .pdf copy of the alert. The U.S. Internal Revenue Service issued Notice 2020-32 on April 30, 2020. This Notice states that no deduction is allowed for an expense that is otherwise deductible if the payment of the expense results in forgiveness of the PPP Loan. Consequently, if you […]
Managing a Safe Return to the Workplace
Click here to view a .pdf version of the alert. As stay-at-home orders begin to ease, planning is needed to ensure that your workplace is safe and productive. Bringing back your furloughed employees: As employers call their employees back to work, many employees will welcome the return the normalcy, while some […]
Paycheck Protection Loan Program Receives Additional Funding from Congress
Click here to view a .pdf version of the alert. Congress has approved an additional $320 Billion for the PPP loan program with $60 Billion set aside solely for smaller lending institutions, particularly community-based lenders. More than 1.6 Million PPP loans totaling almost $350 Billion were approved by SBA before the […]
Mobile Area Chamber of Commerce Teleconference with Bruce McGowin
Bruce McGowin provided some important information about the Paycheck Protection Program. Click here to listen to what he had to say about the importance of filing now even if the program runs out of money, and what paperwork is needed to apply. He overviewed these items and more.
Coronavirus Community Relief Act H.R. 6467
Click here for a .pdf version of the alert. $250 Billion at Stake Recently introduced in the U.S. House of Representatives, the Coronavirus Community Relief Act would appropriate $250 billion for direct payments to local governments with a population of 500,000 or less. This includes counties, municipalities, towns, townships, villages, parishes, boroughs, […]
