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Banking, Finance & Tax

Though the Federal Reserve has taken immediate measures to mitigate the damage the pandemic may cause to the economy, our experience tells us that businesses need to be prepared to deal with a multitude of issues, including drawing on lines of credit, refinancing fixed rate debt to take advantage of lower interest rates, avoiding defaults and covenant violations, non-renewals of revolving lines, appointment of receivers and loan workouts. Whatever you face, KJK’s Banking & Finance Coronavirus Response Team is here to help. 

     

    PPP Borrowers Must Justify Need for Loans Over $2 Million

    By Demetrius Robinson & Kevin O'Connor PPP borrowers who received more than $2 million through the forgivable loan program may be in for a surprise request from their lender in the next few weeks. In late October, the Small Business Administration (SBA) quietly requested comments on two new...

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    IRS Doubles Down on Taxing PPP Loans

    By Demetrius Robinson & Jennifer Hart The US Treasury Department and the Internal Revenue Service (IRS) released new guidance late Wednesday related to the tax treatment of expenses paid with Paycheck Protection Program (PPP) loans. Specifically, Revenue Ruling 2020-27 provides that regardless...

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    Judge Rules SBA Must Release Information for All PPP Borrowers

    By Demetrius Robinson A federal judge has ruled the Small Business Administration (SBA) must release detailed information for all Paycheck Protection Program (PPP) loans. This includes both the identities of loan recipients and loan amounts. The underlining case was brought by a number of media...

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    Tax Policy Overview: Trump v. Biden

    By Samir Dahman Tax policies are always a hot topic in presidential elections. Below, we provide side-by-side comparisons of where the presidential candidates stand on income (corporate and individual) and estate taxes. In short, President Trump’s plan seems to be to extend the 2017 tax policies,...

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    What Will Post-Election Stimulus Look Like?

    By Scott Norcross & Paige Rabatin There’s no need for suspense; a new federal stimulus package will not be passed before the November 3rd election. That became clear once the announcement was made that the Senate will be recessed until November 9th. However, the consensus seems to be that a...

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    M&A in the COVID-19 Era

    By Demetrius Robinson We are now two-thirds of the way through 2020 with a majority of the year being spent navigating through the coronavirus pandemic. Not only has COVID-19 affected the health of people across the United States, but it has also had a major impact on our economy. From wage...

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    Contact Us

    If you have specific questions about any of the information in our articles, please reach out directly to the author or contact the Chair of the Banking & Finance Response Team, John Archer.

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    Meet our Team

    John Archer

    John Archer

    Chair

    Steven Marrer

    Steven Marrer

    Partner

    Anne Corrigan

    Anne Corrigan

    Partner

    Scott Norcross

    Scott Norcross

    Partner

    Samir Dahman

    Samir Dahman

    Partner

    Peggy Beistel

    Peggy Beistel

    Associate

    Justine Lara Konicki

    Justine Lara Konicki

    Partner

    Paige Rabatin

    Paige Rabatin

    Associate

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