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Business Law

Impact of 2020 CARES Act on charitable giving

Impact of 2020 CARES Act on charitable giving

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed. This Act provides significant tax relief and charitable giving benefits of both small and large gifts donated in 2020.  An outline of these gift-planning strategies are as follows.  

PPP Loan Forgiveness Application and instructions released by SBA + IRS issues draft Employee Retention Credit Form

PPP Loan Forgiveness Application and instructions released by SBA + IRS issues draft Employee Retention Credit Form

On May 15, 2020, the SBA and Treasury issued the PPP application form to request forgiveness of loans under the PPP program.  As announced, the SBA will be issuing additional regulations and guidelines for borrowers to complete the application and to instruct lenders on their duties.

House Approves $2.2 Trillion Relief Package in Response to COVID-19

House Approves $2.2 Trillion Relief Package in Response to COVID-19

3.27.20, 3:00pm:  Today, the House of Representatives approved historic legislation designed to prevent economic collapse and provide resources to overburdened…

Coronavirus Aid, Relief and Economic Security Act (CARES Act)

Coronavirus Aid, Relief and Economic Security Act (CARES Act)

3.25.20:   On March 25, 2020, in a 96-0 vote, the Senate passed the Coronavirus Aid, Relief and Economic Security Act…

Tax Filing & Payment Deadline Extended to July 15, 2020

Tax Filing & Payment Deadline Extended to July 15, 2020

3.23.20, 2:30 p.m. (PST): The IRS announced the prior limitations on tax deferral ($1 million for individual and $10 million…

COVID-19 Federal and Washington State Tax Briefing

COVID-19 Federal and Washington State Tax Briefing

3.23.2020, 8:45 a.m. (PST) Federal Tax – IRS Refundable credit for small and medium-size employers – Employers with fewer than…

Employers Beware: New Non-Compete Statute Takes Effect January 1, 2020

Employers Beware: New Non-Compete Statute Takes Effect January 1, 2020

Washington recently joined other states by restricting the use of non-competition agreements for employees and independent contractors. The new law, Chapter 49.62 RCW, takes effect on January 1, 2020 and affects both new non-competition agreements and existing agreements.

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