Author: Calvin McRae

PPP Loan Forgiveness Application

The Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).… Read More »

Tax Answers for Stimulus Checks and Unemployment Insurance

Stimulus Checks: Over 130 million Americans have received stimulus checks from the federal government as part of a provision of the CARES Act. This money is tax-free and will not affect any refunds you might be owed. Additionally, you will not have to return any funds if you received a payment but wind up earning… Read More »

SBA Issues New Regulations for Women-Owned Small Business Federal Contracting Program

The SBA published Women-Owned Small Business Federal Contracting program provisions that will provide a free, online certification and eligibility application process for women-owned small businesses and economically-disadvantaged women-owned small businesses. The timeline for implementation of changes to SBA’s WOSB program has been delayed to accommodate those affected by the current pandemic. Starting July 15, 2020,… Read More »

NC to Enter Phase 1 Reopening on Friday

The first phase of Governor Cooper’s 3-phased reopening plan will begin on Friday, May 8th at 5:00PM. Phase one of the Governor’s plan eases some of the restrictions found in Executive Order 131. This period is designed to provide safe opportunities for people to socialize, boost our economy, and keep important safety restrictions in place. Executive Order 138 modifies the… Read More »

NC Enacts COVID 19 Recovery Act

Governor Cooper signed two bills on Monday, and they are effective immediately. The North Carolina General Assembly approved a robust $1.6 billion COVID-19 relief package. The legislation entitled the “2020 COVID-19 Recovery Act” is comprised of two parts: House Bill 1043 (HB1043) and Senate Bill 704 (SB704). The total dollar amount does not account for… Read More »

Friday Update: Coronavirus Relief Bill, NC’s Phased Reopening Plan

House Passes $484 billion Coronavirus Relief Bill At noon President Trump signed a $484 billion coronavirus relief package to help small businesses and hospitals after the House voted overwhelmingly to pass the bill on Thursday. The legislation will give $320 billion to replenish the Paycheck Protection Program (PPP), $75 billion to aid hospitals, and an… Read More »

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