Coronavirus

Eligible businesses that were in sound financial condition before the pandemic are eligible to receive loans of at least $250,000 through one of three component facilities. The Fed through the MSLP will then purchase 95% of each loan made under the program’s terms.
June 19, 2020 11:57 AM

Worried about a lack of demand and that some of their customers are ineligible, community banks are still on the fence about participating in the effort to back loans for businesses recovering from the pandemic crisis.

6 Min Read
IRS-Building-light
IRS
Michael Cohn
June 19, 2020 11:51 AM

The Internal Revenue Service provided guidance on expanded eligibility and more.

3 Min Read
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IRS
Michael Cohn
June 19, 2020 3:38 AM

Top division officials at the agency share updates on their compliance and service priorities.

12 Min Read
Ernst & Young offices in Melbourne, Australia
EY
Michael Cohn
June 18, 2020 11:29 PM

Big Four firm Ernst & Young and its business tax clients at companies across the U.S. and other countries have faced a series of challenges amid the pandemic.

9 Min Read
Penny Crosman
June 18, 2020 4:15 PM

The bank says fraud attempts involving commercial wire transfers have escalated since the outbreak began. It's training employees and customers how to head off the often hard-to-detect scams.

5 Min Read
June 18, 2020 12:30 PM

California legislators met the letter of the law in passing the budget by Monday's deadline, but the state is a long way from a final spending plan.

7 Min Read
A medical personal directs a patient at a free Covid-19 testing site in Hayward, California, U.S., on Monday, March 23, 2020. Governor Newsom on March 19 ordered that all of the state’s 40 million residents go into home isolation while saying outdoor activity is permissible with proper social distancing. Photographer: David Paul Morris/Bloomberg
Henry Montag
June 17, 2020 2:55 PM

Amid the economic crisis, many people are looking for sources of cash and can no longer afford their insurance premiums.

5 Min Read
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SBA
Michael Cohn
June 17, 2020 11:44 AM

The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.

3 Min Read
John Adams
June 17, 2020 12:01 AM

Even though a portion of retailers could rely on e-commerce to keep active during coronavirus shutdowns, reopening brick-and-mortar shops may be even harder amid new safety concerns.

4 Min Read
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IRS
Michael Cohn
June 16, 2020 4:11 PM

The Internal Revenue Service told nursing homes and other care facilities Tuesday that they shouldn’t be seizing their residents’ economic impact payments.

5 Min Read