by Demetrius Robinson | May 18, 2020 | Finance, Government
By Demetrius Robinson & Kyle Stroup On May 1, 2020, the Roman Catholic Church of the Archdiocese of Santa Fe (“Archdiocese”) persuaded a federal judge to overrule the Small Business Association’s (SBA) denial of a Paycheck Protection Program (PPP) loan. The PPP is...
by Demetrius Robinson | May 6, 2020 | Finance, Government
By Demetrius Robinson & Kevin O’Connor [5/13/2020 UPDATE: The SBA has issued new FAQ #47 extending the repayment date for the safe harbor to May 18, 2020] The SBA, in consultation with the Treasury Department, has extended the safe harbor date – created to...
by Demetrius Robinson | May 1, 2020 | Finance, Government
By Demetrius Robinson, Kevin O’Connor & Melissa Yasinow On Thursday, April 30, the IRS announced Notice 2020-32, providing its position that expenses paid with a forgivable loan under the Payroll Protection Program (PPP) are not tax-deductible. Established under...
by Demetrius Robinson | Apr 27, 2020 | Finance
By Demetrius Robinson Normally, an employer is required to withhold and remit taxes to the municipality which is the employee’s “principal place of work.” Ohio uses a three-step test to determine a principal place of work: It’s the location where an employee is...
by Demetrius Robinson | Apr 21, 2020 | Finance, Government
Tax Alert: IRS Issues Additional Guidance on Tentative Carryback Adjustments for Net Operating Losses (NOL) Under the CARES Act By Demetrius Robinson & Kevin O’Connor On April 9, the IRS issued additional guidance related to carrying back net operating losses...
