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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. 

     

    COVID-19 Bipartisan Relief Update

    By Justine Lara Konicki In a chaotic week on Capitol Hill, a bipartisan group of legislators has proposed a compromise: $908 billion in coronavirus relief, dubbed the “Bipartisan Emergency COVID Relief Act of 2020.” The bipartisan proposal is wide-ranging and includes money for COVID testing,...

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    Attempts at New Stimulus Take Shape as Pandemic Rages

    By Scott Norcross & Kyle Stroup Optimism about delivering long-sought COVID-19 relief is building after the rank-and-file lawmakers voiced support for a bipartisan, middle-of-the-road plan taking shape in the Senate and as top congressional leaders connected on the topic for the first time in...

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    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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    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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