Insights

In response to last week’s blog post, we’ve received many questions (thank you!) about ramifications for ineligible companies that take out PPP loans and fail to return loan proceeds by May 7.  This is a huge question.  And, unfortunately, we do not have a single,…
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On April 23, 2020, the Treasury added FAQ #31 to its ever-growing list of Paycheck Protection Program Loans Frequently Asked Questions (“FAQs”). A first set of 18 FAQ Questions and Answers, meant to provide guidance to PPP borrowers and lenders, were released on April 6,…
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  After being signed into law on March 27, 2020, much of the focus surrounding the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) has centered around the Paycheck Protection Program and the Economic Injury Disaster Loan and Emergency Grant. Both programs are…
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On April 21, 2020, Treasury Secretary Steve Mnuchin, expressed concern that large companies – not the intended Paycheck Protection Program (“PPP”) participants – had applied for and received PPP loans. He unequivocally showed that the government will closely scrutinize representations made by PPP Loan borrowers…
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Last week the FCC adopted a $200,000,000 COVID-19 Telehealth Program to provide funding to health care providers battling the coronavirus pandemic. On April 2, 2020, the FCC released its report and order establishing the program. Purpose: The CARES Act appropriated funds for telehealth services so…
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On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The $2 trillion response to the coronavirus pandemic includes significant funding for a health care system under pressure from a surge of patients requiring intensive…
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On March 18, 2020, in response to the COVID-19 pandemic, the Treasury Department (“Treasury”)  and the IRS issued Notice 2020-18 extending the due date for filing income tax returns and making income tax payments to July 15, 2020 from April 15, 2020. ACTEC Seeks Postponement…
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