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CARES Act Developments and Newly Proposed Fiscal Stimulus Legislation as of November 20, 2020
This week the IRS released guidance on whether a PPP loan recipient can deduct business expenses funded by a PPP loan that has not yet been forgiven. Congress introduced legislation that would allow States, Indian Tribes, territories, and local governments to use Coronavirus Relief Fund payments until September 30, 2021 rather than the end of 2020.
CARES Act Developments and Newly Proposed Fiscal Stimulus Legislation as of October 23, 2020
This week the FDIC issued an interim final rule that reduces the costs of pandemic-related regulatory compliance for certain insured depository institutions, and legislation was introduced in the House of Representatives and the Senate to provide additional protection and relief for small businesses.