COVID-19

Recent revisions to the CARES Act allow borrowers to elect to expand the covered period during which Paycheck Protection Program (PPP) loan proceeds must be…

The SBA and Treasury Department today announced the release of two Paycheck Protection Program (PPP) loan forgiveness applications—one revised and one new—which are intended to…

On June 3, 2020, the Senate passed the House version of the Paycheck Protection Program Flexibility Act of 2020 (the “Act”). The Act makes important…

On May 22, 2020, the SBA issued two new Interim Final Rules relating to Paycheck Protection Program (“PPP”) loan forgiveness, one rule with guidance for…

A critical aspect of the PPP Loan program is the promised tax-free forgiveness of loans used for specific payroll and operating expenses. On Friday, May…

On May 13, 2020, the Wisconsin Supreme Court struck down the state-wide “Safer at Home” order. Many local municipalities and counties have since issued their…

Safer at Home Order Invalidated. Yesterday, May 13, 2020, the Wisconsin Supreme Court, in a 4-3 decision (the “Decision”), struck down Wisconsin’s current “Safer at Home”…

With a drip, drip, drip of guidance from the federal government, there has been significant confusion regarding the PPP Loan program and the requirement that…

Section 2 of FOS’s FURTHER GUIDANCE ON PAYCHECK PROTECTION PROGRAM describes the recent guidance provided by the Small Business Administration (“SBA”) regarding, among other things, the certifications…

The Small Business Administration, the Department of Treasury and the Internal Revenue Service continue to offer additional guidance to borrowers regarding loans received under the…