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Tax & Accounting

Paycheck Protection Program

More PPP Forgiveness and Loan Review Procedures Released: Top Takeaways

By K·Coe Editorial | May 26, 2020
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Reading Time: 3 minutes
The latest Interim Final Rule (IFR) on Paycheck Protection Program (PPP) Loan Forgiveness issued by the Small Business Administration (SBA) was released just before the holiday weekend.  Here, K·Coe advisors break down the high-level takeaways from the PPP forgiveness that offer some important clarifications for borrowers and lenders. Clarifications and …

Read moreMore PPP Forgiveness and Loan Review Procedures Released: Top Takeaways

PPP Certification Criteria: 3 Questions for Every Business

SBA Issues First Guidance for PPP Loan Forgiveness Application

By K·Coe Editorial | May 19, 2020
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Reading Time: 5 minutes
On May 15, the Small Business Administration (SBA) released the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness application and instructions. While there is not yet clear guidance on the details of loan forgiveness (the SBA plans to release regulations and guidance soon to assist borrowers as they complete their loan …

Read moreSBA Issues First Guidance for PPP Loan Forgiveness Application

MSL

Fed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses

By K·Coe Editorial | May 1, 2020
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Reading Time: 3 minutes
Following its release of the Main Street Lending (MSL) program three weeks ago, the Federal Reserve has issued more detail on guidance, answered Frequently Asked Questions (FAQs), and made some adjustments to the original scope of the program. “After listening to the press conference delivered by Fed Chair Powell, and …

Read moreFed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses

PPP Certification Criteria: 3 Questions for Every Business

PPP Certification Criteria: 3 Questions for Every Business

By K·Coe Editorial | May 1, 2020
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Reading Time: 3 minutes
Recently, we learned that Shake Shack, the LA Lakers organization, and many other businesses have returned Paycheck Protection Program (PPP) funds due to concerns over alleged misuse of the program’s loan criteria.  In response to these highly publicized events, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza …

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Workers in Field

PPP Update: Good News for Businesses with H-2A Workers

By K·Coe Editorial | April 28, 2020
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Reading Time: 2 minutes
Earlier in April, the Small Business Administration (SBA) and Department of Treasury addressed whether businesses should include any non-U.S. laborers in their employee count applicable to the Paycheck Protection Program (PPP) by simply excluding any compensation of an employee whose principal place of residence is outside of the United States.  …

Read morePPP Update: Good News for Businesses with H-2A Workers

Employee Retention Tax Credit ERTC

CARES Act: Employee Retention Tax Credit is Available

By K·Coe Editorial | April 9, 2020
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Reading Time: 2 minutes
With all of the coverage and focus on the Paycheck Protection Program (PPP) loans, many businesses are unaware of the Employee Retention Tax Credit (ERTC) that is available under the CARES Act.  The ERTC was set up to help businesses retain employees.  There is a small catch, however:  a business …

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CARES Act Update

CARES Act Update: IRS Allows Amendments for Eligible Partnerships

By K·Coe Editorial | April 8, 2020
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Reading Time: 2 minutes
On April 8, 2020, the IRS issued welcomed guidance regarding the CARES Act Update in Revenue Procedure 2020-23, allowing “eligible partnerships” to file amended returns for taxable years beginning in 2018 and 2019.  Without this guidance, eligible partnerships must utilize the Administrative Adjustment Requests (AARs) procedures.  Generally, utilizing the AAR …

Read moreCARES Act Update: IRS Allows Amendments for Eligible Partnerships

CARES Act: 4 New Provisions for Employer Benefit Plans

CARES Act: 4 New Provisions for Employer Benefit Plans

By K·Coe Editorial | March 31, 2020
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Reading Time: < 1 minute
In an effort to further help individuals and employers, the CARES Act has enacted provisions that create temporary relief through employer benefit plans changes for 2020. Employer Benefit Plans Provisions for 2020 will: Defer employer contribution minimums Defers 2020 minimum required contributions (including quarterly contributions) for single-employer plans to January …

Read moreCARES Act: 4 New Provisions for Employer Benefit Plans

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