Coronavirus Impact Updates

Showing 41 posts by Christina L. Moore.

CDC Extends Eviction Moratorium for Non-Payment of Rent to June 30, 2021

Coronavirus

While there have been several legal challenges to the Centers for Disease Control and Prevention (CDC) nationwide moratorium on residential evictions for non-payment of rent, on March 29, 2021 the CDC extended the moratorium through June 30, 2021. As many are aware, the moratorium prohibits eviction of covered persons (see prior law alert here for more details) for non-payment of rent while the moratorium is in place. Full payment of all past due and current rent due is payable upon the expiration of the moratorium.

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American Rescue Plan Adds $7.25B in Paycheck Protection Program Funding

Coronavirus

After being the focus of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (EAA) of the Consolidated Appropriation Act of 2021 (CAA), the Paycheck Protection Program (PPP) is only a small part of the American Rescue Plan (ARP) that the president signed on March 11. The ARP adds $7.25 billion in additional funding to PPP but does not extend the PPP's current application period or deadline of March 31, 2021. 

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Assistance to Shuttered Venues FAQs Updated

Coronavirus

On December 27, 2020, funding for the Shuttered Venue Operators Grant (SVOG) program (Program) was signed into law with the Consolidated Appropriations Act of 2021 (CAA). The U.S. Small Business Administration (SBA) continues to update answers to frequently asked questions regarding the Program. On February 28, 2021 and March 5, 2021, the SBA updated the frequently asked questions, which can be found here. Below are highlights of certain parts of the updated FAQs to assist potential applicants in considering the Program and preparing to file, if eligible.

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Updated PPP FAQs – Second Draw PPP Loans

Coronavirus

On March 3, 2021, the U.S. Treasury Department in conjunction with the Small Business Administration (SBA) posted an updated set of “frequently asked questions” (FAQs) concerning the Paycheck Protection Program (PPP). These FAQs are tied to the changes and continuation of the PPP loan program enacted under the Consolidated Appropriations Act, 2021 (CAA). The updated FAQs reflect changes or clarifications made to existing FAQs mainly to assist Second Draw PPP borrowers. Below is a summary of certain FAQs. A full copy of the FAQs can be found here.

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Assistance to Shuttered Venues FAQs

Posted In Coronavirus

Coronavirus

On December 27, 2020 funding for the Shuttered Venue Operators Grant (SVOG) program (Program) was signed into law with the Consolidated Appropriations Act of 2021 (CAA). You can find a summary of the Program here. The U.S. Small Business Administration (SBA) has since provided answers to frequently asked questions regarding the Program. Below are brief summaries of the FAQs to assist potential applicants in considering the Program and preparing to file, if eligible. 

Please note, currently the SBA has yet to open the Program to take applications/submittals. The FAQs have been issued in anticipation of opening of the SBA portal to accept applications.

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COVID-19: Assistance for Shuttered Venues

Posted In Coronavirus

Coronavirus

Late last year, Congress authorized funding including $15 billion in grants through the Shuttered Venue Operators (SVO) Grant Program to provide assistance to businesses or specified representatives involved in performance, entertainment and museum arts. The funding was approved as part of the Consolidated Appropriations Act of 2021 and will be administered through the Small Business Administration (SBA), which as of January 20, 2021 is not yet accepting applications for the grant Program. Applicants will be required to submit a good-faith certification that the uncertainty of current economic conditions makes the grant necessary to support their ongoing operations.

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Economic Aid Act Second Draw Specific Regulations and Opening of Portal to Accept Applications for Second Draw Loans

Posted In Coronavirus

Coronavirus

Eligible borrowers who would like to obtain or increase their Paycheck Protection Program (PPP) funding will be able to act as early as this week, due to recent action by Congress and the U.S. Small Business Administration (SBA). On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (EAA) (included within the Consolidated Appropriations Act of 2021) became law. On January 8, 2021, the SBA announced that the portal to accept PPP loan applications, pursuant to the EAA, will re-open Monday, January 11, 2021. To promote access to capital, the SBA will initially only accept First Draw PPP Loan applications, including requests for increases on First Draw PPP Loan amounts, from community financial institutions. Second Draw PPP Loan applications will be accepted beginning January 13, 2021.

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Kemp's Post-Exposure Quarantine Requirements for Camps

Posted In Coronavirus

Coronavirus

As noted in the alert, “Georgia Governor Institutes Post-Exposure Quarantine Requirements for Certain Businesses,” Governor Kemp issued a new Executive Order (covering January 1 - 15, 2021) that imposes a new Post-Exposure Quarantine Protocol (PEQP) under certain circumstances, including in relation to children’s camps. Children’s “Camp” is defined by the Order to apply to any entity offering organized sessions of supervised recreational, athletic or instructional activities held between typical school terms or during school breaks, including those commonly referred to as a “day camp” and any license-exempt day camps operating during school terms.

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Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) and Expansion of Employee Retention Credit (ERC) enacted by the CARES Act

Posted In Coronavirus

Coronavirus

On December 27, 2020, the Consolidated Appropriations Act of 2021 (CAA) became law. The CAA includes the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the Act), which extends and expands the Employee Retention Credit (ERC) enacted by the CARES Act. Thus, thanks to the CAA, eligible employers may still have CARES Act tax credits available to them in 2021 that otherwise would have expired at the end of 2020, or for which they otherwise would not have been eligible, or for a larger credit than they might have qualified for otherwise.   

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Deadline Approaching to Take Advantage of CARES Act Retirement Benefits

Posted In Coronavirus

Coronavirus

On March 27, 2020, Congress signed the Coronavirus Aid, Relief and Economic Security (CARES) Act into law to provide financial relief to Americans suffering from the economic fallout of COVID-19. The CARES Act contained tax benefits regarding early withdrawals from employee retirement accounts. These retirement benefits were not extended by the Consolidated Appropriations Act of 2021 (CAA of 2021) that took effect this week.

Continue reading Deadline Approaching to Take Advantage of CARES Act Retirement Benefits ›

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