by Stephanie Mercado | Jan 14, 2021 | Finance, Government
By Stephanie Mercado President-elect Joe Biden has released the details of a proposed $1.9 trillion COVID-19 relief package aimed at supporting businesses and individuals impacted by the pandemic. Dubbed the American Rescue Plan, the package comes on the heels of the...
by Rob Gilmore | Jan 13, 2021 | Employment, Government
By Rob Gilmore & Alexis Preskar The new COVID-19 relief bill, the Consolidated Appropriations Act, eliminated the mandatory paid leave under the Families First Coronavirus Response Act (FFCRA). However, even though paid leave is voluntary in 2021, employers can...
by Demetrius Robinson | Jan 11, 2021 | Finance, Government
By Demetrius Robinson The Economic Aid Act, a part of the Consolidated Appropriations Act, 2021, updated the Paycheck Protection Program (PPP) to provide an additional allocation of PPP funding to businesses that were hardest hit by the economic devastation of the...
by Demetrius Robinson | Jan 11, 2021 | Finance, Government
By Demetrius Robinson The Small Business Administration (SBA) has reopened the Paycheck Protection Program (PPP) for applications for either a first initial draw of PPP funds (First Draw) or a second allocation (Second Draw), authorized under the Economic Aid to...
by Demetrius Robinson | Jan 7, 2021 | Finance, Government
By Demetrius Robinson The IRS has issued official guidance rescinding IRS Notice 2020-32 and Rev. Rul. 2020-27 concerning the deductibility of eligible expenses used under the Payroll Protection Program (PPP). Last year, the Internal Revenue Service issued IRS Notice...