Published Articles & Alerts

New PPP Application Dates Announced

January 14, 2021

The SBA and Treasury have announced the latest set of dates to apply for first-time and second draw Paycheck Protection Program (PPP) loans.View

The PPP is Reopening Today; When Can You Apply and What Else Do You Need to Know?

January 11, 2021

There has been a flurry of news over the last several days about the $284 billion reboot of the PPP, including an issuance of new guidance from the SBA and Treasury as well as the announcement that the program is officially reopening January 11, 2021. Here is what you need to know.View

Employers Required to Provide EITC Notice to Philadelphia Employees by February 1, 2021

January 8, 2021

The City of Philadelphia requires businesses to notify their Philadelphia resident employees about the Federal Earned Income Tax Credit (EITC) and the City of Philadelphia Income-Based Wage Tax Refund Program. You can notify your employees electronically or via a printed copy, but this must occur no later than February 1, 2021.View

Key Tax Provisions in the New Stimulus Package

January 8, 2021

Shortly before the New Year, President Trump signed the Consolidated Appropriations Act (CAA), which contained nearly $900 billion of coronavirus-related relief to help business and individuals struggling with the ongoing effects of the pandemic.View

$900 Billion Coronavirus Relief Bill Awaits President Trump's Signature; What's Ahead for the Paycheck Protection Program?

December 23, 2020

The bill includes $284 billion for the PPP, which will reopen after closing in August. The program will operate in much the same way as it originally did, but there are a few key changes.View

Congress Reaches Agreement on $900 Billion Coronavirus Relief Bill

December 21, 2020

After months of negotiations, Congress has reached agreement on a new round of relief to help business and individuals struggling with the ongoing effects of the pandemic.View

Kreischer Miller Survey Finds that Philadelphia-Area Manufacturers and Distributors Continue to Grapple with COVID-19-Related Challenges

December 14, 2020

Kreischer Miller recently conducted a survey to gather information about the current outlook of manufacturers and distributors in the Greater Philadelphia region, given the ongoing challenges of the COVID-19 pandemic. Here are some of the survey’s key findings.View

SBA Issues Update on PPP Loan Necessity Questionnaire

December 11, 2020

On December 9, 2020, the SBA updated its Frequently Asked Questions document for PPP lenders and borrowers with FAQ #53, which addresses the Loan Necessity Questionnaire we first told you about several weeks ago.View

IRS Issues Clarification on Deductibility of Expenses Paid With PPP Loan Proceeds

November 20, 2020

On November 18, 2020, the Internal Revenue Service issued much-needed guidance under Rev Rule 2020-27, which addressed the timing of the deductibility of expenses paid with proceeds from a PPP loan.View

SBA Issues Questionnaire for PPP Borrowers With Loans $2 Million and Above

November 2, 2020

The questionnaires are comprised of a Business Activity Assessment and a Liquidity Assessment, and appear to be part of the SBA's review process to assess borrowers' good-faith certification of their economic need.View