by Kernutt Stokes | Aug 31, 2020 | Covid-19, KS Blog
IRS Issues Guidance Regarding Payroll Tax Deferral / On Friday, August 28, the Internal Revenue Service (IRS) released Notice 2020-65, which offers guidance regarding the implementation of the Presidential Memorandum on the deferment of some payroll taxes. The...
by Kernutt Stokes | Aug 5, 2020 | Covid-19, KS Blog
SBA Issues 23 New PPP FAQs / Posts / Covid-19 On August 4th, the U.S. Small Business Administration (SBA) released additional guidance regarding forgiveness of Paycheck Protection Program (PPP) loans. In consultation with the U.S. Department of the Treasury, the SBA...
by Kernutt Stokes | Jul 1, 2020 | Covid-19
SBA and Treasury Release Interim Final Rule on Loan Forgiveness after the Flexibility Act / Posts / Covid-19 On June 22, the Small Business Administration (SBA) and the Department of the Treasury released the latest Interim Final Rule (IFR) regarding the Paycheck...
by Kernutt Stokes | Jun 4, 2020 | Covid-19, KS Blog
Senate Passes Paycheck Protection Flexibility Act / On Wednesday night, the Senate voted unanimously in favor of the Paycheck Protection Flexibility Act. This new legislation makes key adjustments to the timeline for spending Paycheck Protection Program (PPP) funds...
by Kernutt Stokes | May 27, 2020 | Covid-19, KS Blog
On May 23 the Small Business Administration in coordination with the Department of Treasury released their Interim Final Rules (IFRs) on PPP Loan Forgiveness. The IFRs codify rules previously suggested with the Loan Forgiveness Application and Instructions (the...
by Kernutt Stokes | May 20, 2020 | Covid-19, KS Blog
On May 15, the SBA and Department of Treasury released the much anticipated PPP loan forgiveness application and related instructions (the Application). The Application provides significant clarity and borrower flexibility but continues to leave some questions...
