COVID-19

Federal Reserve

The Federal Reserve Will Extend Its Lending Programs Through December 31, 2020

The Federal Reserve Will Extend Its Lending Programs Through December 31, 2020 400 400 SAX LLP - Advisory, Audit and Accounting

The Federal Reserve has announced an extension through December 31 of its lending facilities that were initially scheduled to expire on or around September 30.  The lending facilities are geared…

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Senate

Senate Unveils $1 Trillion “HEALS Act” Coronavirus Relief Package

Senate Unveils $1 Trillion “HEALS Act” Coronavirus Relief Package 400 400 SAX LLP - Advisory, Audit and Accounting

Following weeks of speculation and negotiations, the Senate released its latest coronavirus relief package on Monday, July 27, 2020.  Dubbed the “HEALS Act”, this $1 trillion GOP economic and stimulus…

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Federal Reserve

The Main Street Lending Program is Now Available For Non-Profits

The Main Street Lending Program is Now Available For Non-Profits 400 400 SAX LLP - Advisory, Audit and Accounting

The Federal Reserve has recently announced that the Main Street Lending Program is now available for non-profit organizations seeking COVID-19 relief. On July 17, 2020, final terms were released for…

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PPP

Paycheck Protection Program (PPP) Gets a 5-week Application Extension

Paycheck Protection Program (PPP) Gets a 5-week Application Extension 600 600 SAX LLP - Advisory, Audit and Accounting

On July 4, 2020, a five-week extension of the Paycheck Protection Program (PPP) was officially passed, extending the application deadline to August 8 (previously set to close on June 30). …

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New SBA Guidance

PPP Loan Forgiveness Update: SBA Issues New Interim Final Rule to Provide Additional Guidance Surrounding Loan Forgiveness

PPP Loan Forgiveness Update: SBA Issues New Interim Final Rule to Provide Additional Guidance Surrounding Loan Forgiveness 400 400 SAX LLP - Advisory, Audit and Accounting

On June 22, 2020, the Small Business Administration (SBA) issued its latest Interim Final Rule, providing borrowers and lenders with additional guidance surrounding the Paycheck Protection Program (PPP) loan forgiveness…

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Main Street Landing Program

Main Street Lending Program is Now Live

Main Street Lending Program is Now Live 400 400 SAX LLP - Advisory, Audit and Accounting

On Monday, June 15, the Federal Reserve officially launched the Main Street Lending Program, a series of loan facilities aimed at supporting small to medium sized businesses combating the coronavirus…

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PPP Flexibility Act

PPP Loan Forgiveness Update: Passage of PPP Flexibility Act Provides Borrower Options

PPP Loan Forgiveness Update: Passage of PPP Flexibility Act Provides Borrower Options 400 400 SAX LLP - Advisory, Audit and Accounting

The swift passage of the Paycheck Protection Program Flexibility Act (PPP Flexibility Act) of 2020 has brought welcome relief to borrowers who may be nearing the end of the 8-week…

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SAX CFO Focus

Watch the CFO Focus: What to Expect When You’re Expecting to Re-open Post Pandemic

Watch the CFO Focus: What to Expect When You’re Expecting to Re-open Post Pandemic 400 400 SAX LLP - Advisory, Audit and Accounting

Our day-to-day business models have been drastically disrupted from COVID-19, and as a result, our workplaces may not look the same for quite some time.  As businesses begin to plan…

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New SBA Guidance

New PPP Update: SBA Releases Guidance on Loan Forgiveness Application Interpretations

New PPP Update: SBA Releases Guidance on Loan Forgiveness Application Interpretations 400 400 SAX LLP - Advisory, Audit and Accounting

The Small Business Administration (SBA) issued two Interim Final Rules on Friday, May 22nd.  The first of these two Interim Final Rules provides interpretations and clarifications on the requirements governing…

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Tax Alerts

Tax Alert: Business Aid and Tax Provisions in Pending HEROES Act

Tax Alert: Business Aid and Tax Provisions in Pending HEROES Act 400 400 SAX LLP - Advisory, Audit and Accounting

On May 15, the House passed H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act providing over $3 trillion to federal agencies, state and local governments, small…

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SAX LLP - Advisory, Audit and Accounting