The House Select Subcommittee on the Coronavirus Crisis recently announced an investigation into the role of four Fintech companies and partner banks in issuing allegedly fraudulent Paycheck Protection Program (PPP) loans. The Subcommittee’s press ... Read full article
On April 29, 2021 Governor Newsom signed California A.B. 80, largely conforming to Federal rules relating to deductibility of expenses paid with funds from forgiven Paycheck Protection Program (PPP) loans. The $150,000 limitation in prior versions of ... Read full article
On January 19, 2021, the U.S. ... Read full article
On January 6, 2020, the SBA published its 26 th Interim Final Rule (the First Draw PPP IFR ) and 27 th Interim Final Rule (the Second Draw PPP IFR ) [1] with respect to the Paycheck Protection Program ( PPP ), as reauth ... Read full article
This client alert is the second of a two part series concerning the Save Our Stages Act (the “ SOS Act ”), which became law on December 27, 2020 as Section 324 of the Economic Aid to Hard-Hit Small Business, Nonprofits, and Venues Act (the “ Economic Aid ... Read full article
On December 27, 2020, President Donald Trump signed into law the Consolidated Appropriations Act, 2021 (the 2021 Consolidated Appropriations Act ), an omnibus statute that is comprised of, among other laws, twelve fiscal year 2021 appropriations bills for ... Read full article
As reported in our earlier blog post The CARES ACT – Tax Relief , the federal CARES Act provides for forgiveness of indebtedness for eligible recipients of Paycheck Protection Program (“PPP”) loans in an amount equal to the sum of the recipient’s payroll ... Read full article
On October 2, 2020, the U.S. ... Read full article
On July 4, 2020, President Trump signed into law a bill passed by the U.S. ... Read full article
On June 16, 2020, the U.S. Department of Treasury ( Treasury ) and U.S. ... Read full article
[Update: This is an updated version of an article published on June 5, 2020 ] ... Read full article
On June 5, 2020, the U.S. ... Read full article
Below please find a link to the Sheppard, Mullin, Richter & Hampton LLP ( Sheppard Mullin ) Paycheck Protection Program ( PPP ) Loan Forgiveness Estimator Workbook (the Workbook ), which was created by and is the property of Sheppard Mullin. ... Read full article
On May 15, 2020, the U.S. Department of Treasury ( Treasury ) and U.S. ... Read full article
On May 13, 2020, the U.S. Department of Treasury ( Treasury ) and U.S. ... Read full article
On April 28, 2020, U.S. Department of Treasury ( Treasury ) Secretary Steven T. Mnuchin and U.S. ... Read full article
On April 24, 2020, the U.S. ... Read full article
The Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) guarantees loans from qualified lenders to small businesses impacted by the COVID-19 pandemic so that those businesses can keep workers employed. In the Third Interim Final ... Read full article
The Paycheck Protection Program (“ PPP ”), as enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act , provides federally-guaranteed loans up to a maximum amount of $10 million to qualified businesses, which can be fully forgivable, ... Read full article
On April 14, 2020, the U.S. ... Read full article
