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Paycheck Protection Program Loan Process
The U.S. Department of Treasury and SBA released the application and guidelines for the Paycheck Protection Program (PPP loan) in the evening of March 31, 2020. As we mentioned in an earlier blog, the Paycheck Protection Program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and is designed for small businesses with 500 or fewer employees.
The CARES Act Provides Sweeping Relief to Taxpayers
After much debate in Congress, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed by President Donald Trump on March 27, 2020. It is the latest in a series of aid and relief packages to assist Americans as the nation struggles with the ongoing COVID-19 pandemic. This law represents the single largest domestic relief package ever passed by
SBA Disaster Relief Loans Available Due to COVID-19 Losses
The COVID-19 virus is having an immense economic impact on businesses and individuals. Our team at MRPR has been tracking local, state and federal policy regarding emergency funding. Things are changing quickly and we understand this information can be both confusing and overwhelming for business owners to navigate on their own. In recent weeks, we have been asked most often
Update: The Families First Coronavirus Response Act H.R. 6201
We have gathered the updates you need to know released by the Department of Labor (DOL), Internal Revenue Service (IRS) and U.S. Department Of The Treasury regarding the Families First Coronavirus Response Act (FFCRA). We kindly ask that you take a moment to familiarize yourself with these updates and reach out to MRPR if we may be of further assistance.
IRS Extends Filing Deadline For Tax Returns
On March 21, 2020, the Internal Revenue Service released Notice 2020-18, providing information and guidance to taxpayers as the United States addresses the global COVID-19 (Wuhan coronavirus) pandemic. President Donald Trump issued an emergency declaration on March 13, 2020, empowering Treasury Secretary Steven Mnuchin to grant certain relief to taxpayers as more and more sectors of the U.S. economy are
The Families First Coronavirus Response Act H.R. 6201
On Wednesday, March 18, 2020, the Families First Coronavirus Response Act H.R. 6201 was signed into law by President Trump after the Senate passed the bill by a 90-8 vote. The Act contains provisions for paid leave for employees, tax credits for business owners, COVID-19 testing, unemployment insurance and additional funding for government programs. The bill takes effect no later