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1. • Part III: The RESTART Act and the Long-term Recovery Sector Loan Program

     The National Law Review· 1 hour ago

     The first part of the alert discusses the Reviving the Economy Sustainably...of Congress supporting the legislation. The RESTART Act’s primary appeal is that it is a long-term loan& ...

2. • Frequently Asked Questions: Paycheck Protection Program Loan Forgiveness

     The National Law Review· 3 hours ago

     Treasury Department released their much anticipated Loan Forgiveness Application and corresponding instructions (Forgiveness Application) for the Paycheck Protection Program ...

3. • IRS Confirms PPP-Funded Expenses Are Non-Deductible

     The National Law Review· 4 hours ago

     Literally tens of thousands of businesses received Paycheck Protection Program (PPP) loans under the CARES Act. The legislation was passed very quickly to avert a potential ...

4. • PPP Loan Audits Could Affect Millions of Borrowers | JD Supra

     JD Supra· 2 days ago

     PPP Loans with balances of less than $100,000 to the Treasury Department for collection, and another 10,000 delinquent PPP Loans involving higher balances ...

5. • SBA Provides Safe Harbor For Certifying Need For PPP Loans

     The National Law Review· 2 days ago

     New SBA guidance says PPP borrowers of under $2 million are granted safe harbor and deemed to have made required good-faith certification of necessity. Individual circumstances ...

6. • 

     Brevard political consultant, Space Coast Rocket owner, arrested for alleged PPP loan fraud

     Florida Today via Yahoo Finance· 19 hours ago

     Robert Burns, a Brevard County political consultant and owner of the Space Coast Rocket local news...

7. • If You File a Schedule C, Take Note: SBA Offers Guidance for Self-Employed PPP Loan Applicants

     The National Law Review· 5 days ago

     The average PPP loan amount so far has been $239,000, though the vast majority of approved loans (70%) have been for $150,000 or less. Lenders have felt ...

8. • Additional Guidance Issued on PPP Loan Forgiveness, Loan Review Procedures

     The National Law Review· 1 day ago

     The rule does not provide a time frame within which a business must submit the loan forgiveness application. The rule does clarify that a lender has 60 days following the ...

9. • COVID-19: Understanding the Borrower Certification Requirements under the Paycheck Protection...

     The National Law Review· 19 hours ago

     Under the CARES Act, an “eligible recipient” was always a broader definition than the “small business concern” that is normally the standard needed to qualify for a loan guaranteed ...

10. • Top 10 Insights from the SBA’s PPP Loan Forgiveness Application

      The National Law Review· 5 days ago

      On May 15, 2020, the SBA issued its Paycheck Protection Program (PPP) Loan Forgiveness Application (available here). While the term of the “Covered Period ...