COVID-19 Business Resources

SBA IS SEEKING COMMENTS ON PROPOSED COLLECTION OF INFORMATION FOR PPP BORROWERS WITH LOANS OVER $2 MILLION

SBA IS SEEKING COMMENTS ON PROPOSED COLLECTION OF INFORMATION FOR PPP BORROWERS WITH LOANS OVER $2 MILLION 400 400 SAX LLP - Advisory, Audit and Accounting

In an effort to gather supporting information behind Paycheck Protection Program (PPP) loans in excess of $2 million[1], the Small Business Administration (SBA) recently received emergency approval and released the…

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SBA ISSUES LOAN NECESSITY QUESTIONNAIRES FOR PPP BORROWERS WITH LOANS OVER $2 MILLION

SBA ISSUES LOAN NECESSITY QUESTIONNAIRES FOR PPP BORROWERS WITH LOANS OVER $2 MILLION 400 400 SAX LLP - Advisory, Audit and Accounting

In an effort to gather supporting information behind Paycheck Protection Program (PPP) loans in excess of $2 million[1], the Small Business Administration (SBA) recently released the following questionnaires: Form 3509:…

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SBA Issues Procedural Guidance for Paycheck Protection Program Borrowers Considering a Change in Control

SBA Issues Procedural Guidance for Paycheck Protection Program Borrowers Considering a Change in Control 400 400 SAX LLP - Advisory, Audit and Accounting

2020, to say the least, has been a tumultuous year.  Irrespective of size and location, businesses across all industries have been impacted by the COVID-19 pandemic.  However, as eloquently stated…

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Governor Murphy unveils $100M in COVID-19 Relief for Businesses

Governor Murphy unveils $100M in COVID-19 Relief for Businesses 400 400 SAX LLP - Advisory, Audit and Accounting

On Tuesday, October 13, New Jersey Governor Phil Murphy announced $100 million in relief will be available for businesses hit hard by the COVID-19 pandemic.  This aid is allocated from…

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SBA Issues New Forgiveness Guidance for PPP Loans of $50,000 or Less

SBA Issues New Forgiveness Guidance for PPP Loans of $50,000 or Less 400 400 SAX LLP - Advisory, Audit and Accounting

On October 8, 2020, the Small Business Administration (SBA), in conjunction with the U.S. Treasury Department, issued its latest Interim Final Rule.  To streamline and simplify the loan forgiveness process,…

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Guidance Released on Social Security Withholding Deferral

Guidance Released on Social Security Withholding Deferral 400 400 SAX LLP - Advisory, Audit and Accounting

On August 8, 2020, the President issued a Presidential Memorandum directing the Secretary of the Treasury to defer the withholding, deposits and payment of certain payroll tax obligations.  On Friday,…

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PPP Loan Forgiveness Application Timing: To Forgive or Not to Forgive, Is That The Question?

PPP Loan Forgiveness Application Timing: To Forgive or Not to Forgive, Is That The Question? 400 400 SAX LLP - Advisory, Audit and Accounting

While Hamlet may have hypothesized over the famous query “To Be or Not to Be?”, Paycheck Protection Program (PPP) borrowers have an undisputed desire to maximize loan forgiveness.  As such,…

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Presenting the Paycheck Protection Program Loan in Your Year-End Financials

Presenting the Paycheck Protection Program Loan in Your Year-End Financials 600 600 SAX LLP - Advisory, Audit and Accounting

At the start of 2020, no one could have expected what lie ahead. The effects of the global pandemic have touched everyone, including significantly impacting our businesses. In order to…

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August 28 Deadline for Phase 2 Funding Under CARES Act’s Provider Relief Fund

August 28 Deadline for Phase 2 Funding Under CARES Act’s Provider Relief Fund 400 400 SAX LLP - Advisory, Audit and Accounting

On July 31, 2020, the U.S. Department of Health and Human Services (HHS) granted another opportunity for healthcare providers to apply for the Provider Relief Fund (PRF) under Phase 2,…

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HHS Provides Details on Reporting Requirements for the Provider Relief Fund

HHS Provides Details on Reporting Requirements for the Provider Relief Fund 400 400 SAX LLP - Advisory, Audit and Accounting

On August 14, 2020, the U.S. Department of Health and Human Services (HHS) provided details on the Provider Relief Fund reporting requirements.  The Provider Relief Fund (PRF) was allocated $175…

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