Registration for Restaurant Revitalization Fund Opens Tomorrow

Registration for the Restaurant Revitalization Fund (RRF) will begin tomorrow, Friday, April 30 at 9 a.m. EDT and the SBA will begin accepting applications via the application portal on Monday, May 3…

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IRS Provides Greater Flexibility for Health FSAs & Dependent Care Assistance Programs

The Internal Revenue Service provided greater flexibility, due to the pandemic, to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under…

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Employee Retention Credit Extended for Employers Who Keep Workers on Payroll

The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose…

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PPP Second Draw Loans

The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw…

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Philadelphia City Council Passes Bills Affecting Real Estate Development

On December 10th, the Philadelphia City Council passed three bills that impact real estate development citywide. The bills deal with tax abatement for new residential construction and for commercial &…

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What’s in the $900 Billion Pandemic Relief Package? – Updated

On December 21st, Congress passed a $900 billion pandemic relief package that was signed into law by the president on December 27th. The bill comes with a second round of direct stimulus payments…

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IRS Releases Guidance Clarifying Rules for Expenses Paid with PPP Funds

On November 18th, the IRS and the Treasury Department released guidance clarifying the tax treatment of expenses where a Paycheck Protection Program (PPP) loan has not been forgiven by the end of the year…

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Simpler PPP Forgiveness Announced for Loans of $50,000 or Less

On October 8th, the U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50…

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Burlington County to Offer Zero-Interest Loans to Small Businesses

The Burlington County Board of Chosen Freeholders and Burlington County Bridge Commission announced the launch of a new interest-free loan program aimed specifically at aiding small businesses impacted…

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$15M added to NJ Grant Helping Small Businesses

Small businesses still waiting for state assistance may have a better chance at relief after Gov. Phil Murphy said his administration will offer another $15 million in grants. Murphy announced the third…

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