The Coronavirus Aid, Relief and Economic Security (“CARES”) Act is widely known for the Paycheck Protection Program (“PPP”) which allowed employers to obtain forgivable loans provided that the proceeds of the loans were used for specified purposes. In addition, the CARES Act also provided substantial economic assistance to individuals and businesses through a number ofContinue reading “CARES Act Tax Provisions – a refresher”
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PPP loan extension becomes law.
A hallmark of the Coronavirus Aid, Relief and Economic Security (“CARES”) Act was the creation of the Paycheck Protection Program (PPP) which, in general terms, allowed an employer with fewer than 500 employees to obtain forgivable loans equal to 2.5 times its average monthly payroll costs (capped at $10M) provided the funds were used forContinue reading “PPP loan extension becomes law.”
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