Forgivable Loans – Payroll Protection Program Loans under the CARES Act

by Gregory S. Dowell March 31, 2020 Important Information for Business Owners and Nonprofits The Coronavirus Aid, Relief, and Economic Security Act (CARES) that was passed into law over the past weekend contains provisions that affect income taxes for individuals and businesses, as well as paid leave and unemployment benefits.  CARES also included $350 billion…

Families First Coronavirus Response Act – Passed March 18, 2020

by Gregory S. Dowell March 19, 2020   The President signed the Families First Coronavirus Act (HR 6201, the “Act”) intended to ease the economic consequences stemming from coronavirus (COVID-19) by providing family and medical leave, and sick leave, to employees.  The Act further provides tax credits to employers and self-employeds providing the leave. The…