On December 20th, Congress passed a spending bill, signed by President Trump on December 27th, that includes further coronavirus-related fiscal relief (the “Bill”). There are a number of provisions within the Bill that impact both businesses and individuals. This post focuses on changes made to the loan forgiveness aspects of the Paycheck Protection Program (“PPP”).
The Internal Revenue Service has issued additional guidance regarding the qualified business income deduction under Code Section 199A in the form of a notice. Notice 2019-07 contains a proposed revenue procedure that provides for a safe harbor, solely for purposes of Code Section 199A, under which certain rental real estate enterprises will be treated as a trade or business. For more information on this and other U.S. federal income tax issues, please contact Drew Griesser at 513-639-3909, Margaret Kubicki at 513-579-6913 or Mark Sims at 513-579-6966.
Somewhat lost in the excitement of pending healthcare legislation, on March 18, 2010, President Obama signed into law the Hiring Incentives to Restore Employment (HIRE) Act. The HIRE Act features two new tax benefits designed to incentivize employers to hire and retain workers who were previously unemployed or working part time.
Subscribe
RSS Feed
Follow us on Facebook
Follow us on Twitter
Follow us on LinkedInTopics/Tags
Select- Securities Law
- SEC
- Securities Regulation
- Cybersecurity and Privacy Law
- Coronavirus
- Nasdaq
- Tax Planning
- Corporate Law
- Corporate Tax
- Paycheck Protection Program
- IRS
- Dodd-Frank
- Proxy Access Rules
- FAST Act
- JOBS Act
- Securities Litigation
- Taxation
- Private Offerings
- Cryptocurrency
- SEC Enforcement
- Consumer Protection Act
- Corporate Governance
- Crowdfunding
- Hedging
- Real Estate Law
- Conflict Minerals
- Emerging Growth Companies
- Investors
- Ohio LLC Act
- Intellectual Property
- Technology
- Pay Ratio Disclosure
- Opportunity Zone
- LIBOR
- Whistleblower
- Mergers & Acquisitions
- Accredited Investors
- Sales Tax
- United States Supreme Court
- Online Trading Platforms
- IPO
- Registration Statement
- Executive Compensation
- Health Care Act
- Annual Reports
- Ohio Foreclosure Reform
- Family-Controlled Entities
- Gift and Estate Transfers
- Director Compensation
- Wall Street Reform
- Board of Directors
- Director Independence
- Clawback Rules
- Cyber Insurance
- Data Breach
- Regulation A
- Regulation D
- Total Shareholder Return
- Lenders
- Receivership Statute
- Compensation Committee Certification
- CDEs
- CDFI Fund
- Community Development Entities
- Community Development Financial Institutions Fund
- Government Shutdown
- New Markets Tax Credit
- NMTC
- NMTC Financing
- Regulation Fair Disclosure
- Social Media
- Marketing
- Benefits
- Healthcare Reform
- Litigation
- Public Company Transition Rules
- Employment Incentives
- HIRE Act
- Social Security Tax
- Tax Credit
Recent Posts
- NYSE Proposes an Amendment to the Shareholder Voting Requirement
- SEC Charges Pearson plc for Misleading Investors About Cyber Breach and Inadequate Disclosure Controls
- Update: SEC Postpones Decision on Nasdaq's New Listing Rules to Advance Board Diversity
- SEC Charges AT&T and Three Executives with Regulation FD Violations
- Stimulus Package Reverses IRS’s Position on Deductibility of PPP Expenses and Other Loan Forgiveness Issues
- Nasdaq Proposes New Listing Rules to Advance Board Diversity: Comply or Explain
- More Disclosure Modernization: SEC Adopts Significant Amendments to Financial Disclosure Rules
- SEC Eases Limits and Rules on Private Offerings
- SEC Proposes Conditional Exemption for "Finders" Involved in Capital Raising
- Ohio Adopts Protections for Ohio Businesses from Coronavirus - Related Lawsuits