Client Update

Excluded from Gross Income, but No Deduction of Expenses for forgiven Paycheck Protection Loans The hallmark of the Paycheck Protection Loan Program (“PPP”) under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), is that certain payroll costs (other than salaries, wages and tips in excess of $100,000 in annualized pay per employee,…

These recent weeks have certainly brought unexpected change and disruption into our lives.They have ushered in unprecedented challenges, to be sure, but they have also revealed a palpable and growing spirit of community and solidarity to embrace. We are in this together and change really is the only constant in our lives. DarrowEverett is ready…

Many industries have been upended by the Coronavirus epidemic and the local, state and national government response. Because of the fundamental role Real Estate plays in our economy and the broad umbrella of activity that falls under the category of “Real Estate Development”, developers, property owners and tenants have been particularly impacted. Landlords, tenants, contractors,…

Many industries have been upended by the Coronavirus epidemic and the local, state and national government response. Because of the fundamental role Real Estate plays in our economy and the broad umbrella of activity that falls under the category of “Real Estate Development”, developers, property owners and tenants have been particularly impacted. Landlords, tenants, contractors,…

In an effort to alleviate the effects of the Coronavirus on the US economy, the CARES Act provides financial relief to eligible companies impacted by the Coronavirus pandemic. Below is an overview of provisions relating to Paycheck Protection Loans, Economic Injury Disaster Loans, Employer Payroll Tax Deferrals, and Employee Retention Tax Credits under the CARES…

Dear Friends, These recent weeks have certainly brought unexpected change and disruption into our lives. They have ushered in unprecedented challenges, to be sure, but they have also revealed a palpable and growing spirit of community and solidarity to embrace. We are in this together and change really is the only constant in our lives.…

On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act, H.R. 6201 (the “Act”). The Act will become effective no later than April 2, 2020 and will require all employers with less than 500 employees to provide employees with paid leave under various situations. This alert is meant to provide a…

On March 22, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau (CFPB), and State Banking Regulators (together, the Agencies) issued an Interagency Statement on Loan Modifications and…