MPL General Counsel Corner – PPP Forgiveness FAQ released; Another Stimulus Bill On the Horizon?

Last night, the Department of Treasury issued the first (likely of many) FAQ on PPP forgiveness.  A good overview was provided by Alan Gassman at Forbes.com.  Check out the chart at the bottom of the article for a quick reference guide.

For those that are starting the forgiveness process, below are links to the applications and instructions:

With the constantly changing landscape, I think it is wise to do your research and talk to your professional advisors and mentors.  A few helpful coronavirus resource pages, which contain helpful forgiveness tools, are listed below:

 

Please see all of our prior updates at this link or if you would like to be added to our email list, please click here

As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com) or anyone in our office with questions or comments.  

MPL General Counsel Corner – A Little Forgiveness Advice From Mark Twain

One of the most popular topics I hear from clients these days revolves around PPP forgiveness.  There has been a lot of talk about what it looks like and how quickly it will occur.

Carey Gertler, from EisnerAmper, forwarded an interesting blog from the AICPA which I think highlights some excellent points as to why you should not rush to apply for forgiveness.  On top of that, Secretary Mnuchin is on record pushing for automatic forgiveness for PPP loans under $150k.

With the constantly changing landscape, I think it is a wise to do your research and talk to your professional advisors and mentors.  A few helpful coronavirus resource pages, which contain helpful forgiveness tools, are listed below:

I will leave you with this thought from Mark Twain, which I think is very appropriate for the small business community as they navigate the PPP forgiveness landscape and the uncertainty presented in the Covid impacted world:

“Forgiveness is the fragrance that the violet sheds on the heel that has crushed it.”

Please see all of our prior updates at the this link or if you would like to be added to our email list, please click here

As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com) or anyone in our office with questions or comments.  

MPL General Counsel Corner – Tax Man Cometh – Don’t ignore your professional advisors

Tax Day (Covid-style) is today.  While the 2019 returns are likely straightforward, next year could be another story.  As a reminder, please make sure you are in contact with your professional advisors and taking advantage of the various relief programs.  A little guidance now could save you a lot of headaches in the long run.

A few helpful coronavirus resource pages that I check on regularly are listed below:

Here are some items that I think are important or interesting for you to know.

Please see all of our prior updates at the this link or if you would like to be added to our email list, please click here

As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com) or anyone in our office with questions or comments.