04.23.20
Paycheck Protection Program: Additional Money, Loan Forgiveness and Other Guidance
The Senate has approved the Paycheck Protection Program and Health Care Enhancement Act which provides an additional $310 billion of funding for the Paycheck Protection Program loan program along with $60 billion for additional disaster relief loans and grants.  The House is expected to approve the Act and the President is expected to sign into law today.

04.15.20
Paycheck Protection Program: Rules for Self-Employed Persons Issued
On April 14, 2020, the Treasury Department issued its third formal Interim Final Rule related to the Paycheck Protection Program (PPP).

04.14.20
CARES Act Issues Facing Real Estate Clients
There are a few items in the Coronavirus Aid, Relief, and Economic Security (CARES) Act and other recent legislation that have a direct effect on many of our real estate clients.

04.14.20
IRS Provides Additional Required Minimum Distribution Relief for Taxpayers Affected by the Coronavirus Pandemic
Last Thursday, the IRS issued Notice 2020-23, which postponed due dates with respect to Federal tax returns and payments, and certain time-sensitive actions. This Client Alert addresses how this notice applies to required minimum distributions (RMDs) for retirement plans and IRA’s.

04.10.20
BREAKING NEWS: IRS Extends More Tax Deadlines
In Notice 2020-23, the Internal Revenue Service has extended the payment and filing obligations for certain income tax returns and income taxes due (originally or pursuant to an extension) on or after April 1, 2020 and before July 15, 2020.  The due date of these extended payment and filing obligations is now July 15, 2020.

04.07.20
Illinois Estimated Tax Payment Rules for 2020
As we previously reported, Illinois extended the filing and payment deadline for 2019 income tax returns to July 15, 2020. However, Illinois did not extend the due date for taxpayers who need to remit estimated tax payments for calendar year 2020.

04.06.20
Key Benefit Plan Tax Reporting Deadlines for April and May
The IRS recently postponed some tax-related deadlines that impact employee benefit plans due to the COVID-19 crisis.

04.06.20
Key Benefit Plan Tax Reporting Deadlines for April and May
The IRS recently postponed some tax-related deadlines that impact employee benefit plans due to the COVID-19 crisis.

04.03.20
Update: Paycheck Protection Program Rules Clarified
Late on Thursday, April 2, the Treasury Department issued SBA-2020-015 that provides additional guidance regarding the Paycheck Protection Program. This Rule clarifies some items, but questions remain. Borrowers need to understand the inconsistencies between the CARES Act, the Interim Final Rule and the loan application instructions to determine the position that best fits their circumstances.

04.01.20
Retirement Relief Provisions Under the CARES Act
We continue to breakdown important provisions of the Coronavirus, Aid, Relief, and Economic Security (CARES) Act, passed on March 27, 2020. This Client Alert addresses the key provisions affecting retirement plans.