“Leadership means having access to our partners. From formation to operations to exit strategies, our real estate clients can tap into the power of a Haskell & White partner who specializes in their business.”
Posts by Thomas O'Rourke
PPP Loan Forgiveness Update – IRS Doubles Down on Unfavorable Taxpayer Treatment
Last May, we shared with you the release of IRS Notice 2020-32 which provided initial guidance that expenses paid from PPP proceeds allocable to a forgiven portion of the loan will not be deductible and its position being inconsistent with bipartisan publicly stated positions. Chairman Grassley (R) of the Senate Finance Committee and his counterpart Read more...
PPP Loan Amounts under $2 million Meet Good Faith Requirements
The Treasury Department continues to update a list of frequently asked questions regarding the CARES Act including the Payroll Protection Program (PPP). Recently we informed you of an update that instructed borrowers of the PPP loan to certify in good faith that their PPP loan request was needed under a new standard. What followed was Read more...
Treasury Provides New Standard for PPP Loan “Good Faith” Certification
The Treasury Department continues to update a list of frequently asked questions regarding the CARES Act including the Payroll Protection Program (PPP). A recent update instructs borrowers of the PPP loan to certify in good faith that their PPP loan request was needed under a new standard: 31 & (37) Question: Do businesses owned by Read more...