Corporate 2 News - NYC ITAC

COVID-19

COVID-19 Payment Protection Program Update 6.15.20

The AICPA recently released a Technical Question and Answer (TQA) on the matter, while the TQA does indicate that gain contingency guidance is acceptable, it also opens the door to an alternate conclusion (see the link above and excerpt below). …

Paul McQuadeJune 15, 2020

Small Businesss Payment Protection Program

COVID-19

COVID-19 Payment Protection Program Update 6.11.20

60/40 “cliff” rule addressed: As we previously noted, the PPP Flexibility Act. changed the 75%/25% rule to a 60%/40% rule, allowing companies to realize a greater benefit from the non-payroll costs they incurred during their covered period. However, the law…

Paul McQuadeJune 11, 2020

COVID-19

COVID-19 Payment Protection Program Update 6.8.20

The PPP Flexibility Act was signed into law on Friday. Over the last few weeks we have covered many important components of the Bill, our latest article covers more of the salient points as well as the nuances that all…

Paul McQuadeJune 8, 2020

COVID-19

COVID-19 Payment Protection Program Update 6.5.20

The PPP Flexibility Act is on its way to the White House for signature. We have written extensively about what was in the legislation (see COVID Update on May 29 and our Article). A few observations that we wanted to…

Paul McQuadeJune 5, 2020

COVID-19

COVID-19 Payment Protection Program Update 6.4.20

PPP Flexibility Act Passes the Senate!: This evening the Senate passed the Paycheck Protection Program Flexibility Act. The PPP Flexibility Act was passed by the House last week with bipartisan support. The Senate had a competing bill called the Paycheck…

Paul McQuadeJune 4, 2020

COVID-19

COVID-19 Payment Protection Program Update 5.29.20

Today we wanted to share news regarding the Paycheck Protection Program Flexibility Act. of 2020: PPP Flexibility Act of 2020: On Thursday the House passed the PPP Flexibility Act. with a vote of 417-1. This is clearly a bipartisan piece…

Paul McQuadeMay 29, 2020

COVID-19

COVID-19 Payment Protection Program Update 5.27.20

IFR 14 – Last Friday the SBA issued its 14th “final” ruling with respect to the PPP. We have written extensively about it in this article. Much of this ruling seems to support assertions made on the application itself which…

Paul McQuadeMay 27, 2020

COVID-19

COVID-19 Payment Protection Program Update 5.26.20

On April 3rd, Treasury released a PPP Borrower Information Fact Sheet that was meant to clarify key questions with respect to the application process. In particular, this document reaffirmed the definition of “Payroll Costs” (Page 2) and clarified that Salaries…

Paul McQuadeMay 26, 2020

Navigating ISO Policy Changes for NYC Manufacturers

COVID-19 Payment Protection Program Update 6.15.20

COVID-19 Payment Protection Program Update 6.11.20

COVID-19 Payment Protection Program Update 6.8.20

COVID-19 Payment Protection Program Update 6.5.20

COVID-19 Payment Protection Program Update 6.4.20

COVID-19 Payment Protection Program Update 5.29.20

COVID-19 Payment Protection Program Update 5.27.20

COVID-19 Payment Protection Program Update 5.26.20

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