Dear Client: The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, extended and significantly modified the payroll tax credits for qualifying sick leave and family leave wages. Below is a summary of the key provisions. Background: Both Covid-19-related credits were initially provided by the Families First Coronavirus Response …Read More
Strauss Troy welcomes Julie Hopkins, Bo Howell, and Austin Stevenson. The additions complement the firm’s labor and employment, corporate law, and securities law practice groups.
The Consolidated Appropriations Act, 2021 provides $900 billion in stimulus relief for the COVID-19 pandemic, including $284 billion for the SBA’s Paycheck Protection Program (PPP) for new and previous borrowers under the Economic Aid Act.
Strauss Troy is pleased to announce eight of our attorneys have been recognized by Super Lawyers 2021. The annual Super Lawyers list recognizes outstanding attorneys across the country. Only 5% of attorneys are recognized as Super Lawyers and only 2.5% of attorneys are Rising Stars, an honor for attorneys 40 or younger or attorneys practicing …Read More
Strauss Troy welcomes Stephen S. Schmidt, Daniel A. Hunt, Brian R. Tracy, and Ryan F. Hemmerle to the firm. Stephen S. Schmidt is a litigator and business advisor who focuses his practice in the areas of complex commercial litigation, construction litigation, employment litigation and tort law. Steve represents and advises clients across a variety of …Read More
On Friday, October 2, 2020, the U.S. Small Business Administration issued SBA Procedural Notice 5000-20057, which provides long-awaited guidance regarding pre-forgiveness restructures and ownership changes of borrowers under the Paycheck Protection Program.
On May 19, 2020, the Small Business Administration released a list of frequently asked questions for lenders and borrowers.
PPP loans are subject to forgiveness to the extent that a borrower uses PPP funds for payroll costs and certain mortgage interest, rent and utility obligations during the 8 week period following loan disbursement.
By: Michael L. Iannitti The SBA has continued to issue additional guidance for borrowers and lenders on the Payroll Protection Program (PPP). Since publishing its initial rules in early April, further clarification has slowly trickled out on the often vague provisions of the CARES Act. Perhaps most significantly, the SBA has clarified the circumstances in …Read More
By: Theresa L. Nelson With recent news of easing stay-at-home orders, employers that have been operating with limited employees or that were closed due to COVID-19 need to evaluate the next steps for returning employees to work and opening operations. Any return-to-work plan must comply with all federal, state and local directives to ensure a …Read More