SPOTLIGHT ATTORNEY
Click on webinar recording below for latest update on DOL's guidance regarding the Families First Act

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Recent COVID-19 Legislation Provides Payroll Tax Relief to Employers
The two Coronavirus aid and relief laws recently passed by Congress include a number of tax provisions, including several which allow employers to use payroll tax withholdings as a source of working capital to partially compensate for the cost of mandated sick leave and family leave pay, employee furloughs and business reduction. This article will outline the new payroll tax provisions in the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security (CARES) Act. Each permits payroll taxes to be used for working capital in different situations. As with any legislation created in a very compressed timeframe there are lots of unanswered questions but the IRS has indicated that it intends to issue further guidance later this week. 

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The New SBA Payment Protection Program Loan For Small Businesses – a Q & A
As many of you are aware from news reports, President Trump signed the CARES Act on March 27, 2020. Among other things, the CARES Act established the Paycheck Protection Program, a new business loan program that will be administered through the Small Business Administration (SBA) and SBA-approved lenders. The federally backed business loans available under the Paycheck Protection Program (“ PPP Loan”) are intended to help qualified businesses pay for various operational expenses for the period February 15, 2020 through June 30, 2020 (the “ Covered Period”). The following Q & A is intended to answer the basic questions that many of you may have regarding PPP Loans. Please note, this Q & A does not address Section 7(b) Economic Injury Disaster Loans, another type of loan offered through the SBA that your business may qualify for.

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