You have received your “Paycheck Protection Program” (PPP) loan.  Now what?  As of this writing, we still do not have the final Small Business Administration (SBA) rules on how the forgiveness provisions will work, but we do have the statute to give…

The EIDL (Economic Injury Disaster Loan) program is a program available to certain small businesses located in areas subject to a presidential disaster declaration that have suffered a substantial economic injury as a result. The CARES Act includes $10 billion to expand…

NOTE:  “The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 10:30AM EDT from approved lenders on behalf of any eligible borrower. This will ensure that SBA has properly coded the system to account for…

On March 18, 2020, the Families First Coronavirus Response Act (FFCRA) was signed into law, marking the second major legislative initiative to address COVID-19.  The Families First Coronavirus Response Act requires paid leave for small-business employees affected by coronavirus and…

Phase 3 of the COVID-19 response plan, The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27, 2020.  Below outlines some changes to the existing SBA 7(a) loan programs and also provides information on SBA Disaster…

Phase 3 of the COVID-19 response plan, The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27, 2020.   The bill builds upon earlier versions of the CARES Act and is intended to be a third…

Steve Mnuchin announced today on twitter that they are “Moving tax day from April 15 to July 15.  All taxpayers and businesses will have this additional time to file and make payments without interest and penalties”.  Previously, the U.S. Treasury Department…

On Tuesday, March 17th, Treasury Secretary Mnuchin announced a 90-day grace period on the payment of individual and corporate taxes normally due April 15th. Individuals and corporations now have until July 15th to make federal tax payments without being assessed penalties and interest. Individuals…

A message to our friends and clients: We want you to know that W&S has been closely monitoring the COVID-19 (coronavirus) outbreak; the health and well-being of our clients, colleagues and employees is always of the highest importance to us.…