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COVID-19 Related News
COVID-19 Related News
06
Jan
Key insights
If you believe you may be eligible for the next round of PPP, begin preparing now.
Take a fresh look at the employee retention credit: it’s been expanded.
Consider whether a retroactive capture of WOTC applies to your organization.
The newly passed COVID-19 relief bill is packed full of changes to 2020 economic relief legislation, new benefit options, and more. Most of our clients are asking, “Where should I begin?”
The five highlights below can help you get started:
1. The Paycheck...
06
Jan
On 18 December 2020, the OECD published its much-anticipated "Guidance on the transfer pricing implications of the COVID-19 Pandemic."
It is clear that government restrictions and trading difficulties have created an environment in which existing transfer pricing policies will not always be appropriate. The OECD has done well to reach rapid consensus among its members on four key transfer pricing topics, namely: comparability analysis, losses and the allocation of COVID-19-specific costs, government assistance programmes and advance pricing agreements (APAs). It...
05
Jan
NextGenerationEU is a €750 billion temporary recovery instrument to help repair the immediate economic and social damage brought about by the coronavirus pandemic. Post-COVID-19 Europe will be greener, more digital, more resilient and better fit for the current and forthcoming challenges.
The Recovery and Resilience Facility: the centrepiece of NextGenerationEU with €672.5 billion in loans and grants available to support reforms and investments undertaken by EU countries. The aim is to mitigate the economic and social impact of the coronavirus pandemic...
04
Jan
The SBA Administrator can make corporate debtors eligible for Paycheck Protection Program (PPP) loans at any time by notifying the Office of the U.S. Trustee.
Suppliers and commercial landlords have reduced preference exposure based on payments made to cover arrearages.
Subchapter V debtors can extend the time to perform under commercial leases beyond the initial 60 days.
On December 21, 2020, Congress passed a monumental $900 billion pandemic relief package. It includes several changes to the Bankruptcy Code that...
17
Dec
Introduction
The rollercoaster ride of 2020 has sure had its ups and downs, and 2021 is destined to continue this trend with regulatory action expanding and contracting in order to attempt to contain the spread of Covid-19 while balancing the desire to keep the economy going. This guide examines regulations that have been put in place primarily in New York to deal with Covid-19, but also throughout the United States, and projects future regulatory and related trends and repercussions that...
16
Dec
The European Commission has today presented a strategy to prevent a future build-up of non-performing loans (NPLs) across the European Union, as a result of the coronavirus crisis. The strategy aims to ensure that EU households and businesses continue to have access to the funding they need throughout the crisis.
Banks have a crucial role to play in mitigating the effects of the coronavirus crisis, by maintaining the financing of the economy. This is key in order to support the EU's economic...
16
Dec
Key insights
Post-election, the SBA has provided more PPP loan forgiveness approvals.
The IRS also recently issued guidance that impacts PPP loans.
Under ASC 470, liability debt would be derecognized when the debtor has been “legally released” or when the loan is repaid.
With the election behind us, we have seen more Paycheck Protection Program (PPP) loan forgiveness approvals by the Small Business Administration (SBA), and now there is guidance recently released by the IRS. Take a deeper dive into...
15
Dec
Speech by Chair Jerome H. Powell before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. | December 01, 2020 |
Chairman Crapo, Ranking Member Brown, and other members of the Committee, thank you for the opportunity to update you on our ongoing measures to address the hardship wrought by the pandemic.
Our public health professionals continue to deliver our most important response, and we remain grateful for their service.
The Federal Reserve, along with others across government, is...
