U.S. Treasury Issues Guidance on Deferring Payroll Taxes

  |  September 1, 2020

On August 8, 2020, President Trump signed an executive memorandum authorizing the Treasury Secretary to issue guidance to allow, not require, employers to participate in deferring the withholding and payment of employees’ share in Social Security taxes from September 1 through December 31, 2020. The goal is to get more money into Americans’ pockets this year... Read more. Read More

Main Street Lending Program Expansion

  |  August 25, 2020

The Main Street Lending Program aims to increase the flow of credit to small and medium-size businesses that had good financial standing pre-COVID-19, and that have subsequently suffered a covered loss. In July 2020, some key expansions were made, read more. Read More

SBA Releases New FAQs on PPP Loan Forgiveness

  |  August 6, 2020

On August 4, the U.S. Small Business Administration and the U.S. Treasury released guidance answering 23 frequently asked questions concerning the forgiveness of Paycheck Protection loans. More than $130 billion is still available in the PPP, which has an August 8 deadline for applications to be approved by SBA. Read more. Read More

Small Businesses: Consider Economic Injury Disaster Loans (EIDLs)

  |  July 13, 2020

In the distress of the pandemic, one source of economic aid may not be getting enough attention from small businesses: the Economic Injury Disaster Loan (EIDL). Like a Paycheck Protection Program (PPP) loan, the EIDL is provided by the U.S. Small Business Administration. In an interview, REDW Principal Brian Foltyn provides some quick, essential highlights about EIDLs. Read more. Read More