The domestic emergence of COVID-19 in March has whiplashed not just the American public and the American economy, but also Congress and the Administration. Since the first COVID-19 relief bill was passed in early March, Congress has now passed four relief bills with a price tag approaching just slightly over three trillion dollars. The social, economic and political reverberations of COVID-19 will be felt for years to come, but in the short-term, the most immediate business impact for many agencies has been applying for and using The CARES Act Paycheck Protection Program (PPP) small business loans.
View the webinars conducted by the 4A’s regarding the CARES Act.
March 31, 2020
Watch the WebinarApril 30, 2020
Watch the WebinarJanuary 27, 2021
Watch the WebinarRead the full text of the bill
What’s in the CARES Act? Here’s a Summary, courtesy of Peter G. Peterson Foundation
Regulatory Guidance From The U.S. Department of the Treasury and the Small Business Administration:
January 27, 2021 Now that Congress has passed a second major round of stimulus relief, what can agencies expect in terms of new second-draw PPP loans and tax treatment of first-draw PPP loans? For agencies subject to audit for first-draw PPP loans, what should they be thinking about to make sure they stay in the […]
summary provided by Venable LLP This $325 billion title would provide additional assistance to the hardest-hit small businesses, nonprofits, and venues that are struggling to recover from the impact of the COVID-19 pandemic. The title would provide funding for a second round of forgivable loans through the Paycheck Protection Program for small businesses and nonprofits […]
SBA and Treasury: New EZ and Revised Forgiveness Applications for the Paycheck Protection Program The Small Business Administration (SBA), in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act) enacted on June 5, 2020. […]
QUESTION #1 The CARES Act excludes from the definition of payroll costs any employee compensation in excess of an annual salary of $100,000. Does the exclusion apply to all employee benefits of monetary value? ANSWER No. The exclusion of compensation in excess of $100,000 annually applies only to cash compensation, not to non-cash benefits, including: […]
April 30, 2020 With Congress promising a new allocation of billions of new dollars to the Small Business Administration (SBA)’s Paycheck Protection Program (PPP), many agencies are poised to start receiving these lifeline funds. For agencies that received their funding in the first round, the PPP loans have provided some much-needed breathing space. It’s also […]
