COVID-19 Finance News

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

CARES Act signed into law On March 27, 2020, Congress passed the $2 trillion stimulus package known as the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). President Trump signed the Act into law shortly thereafter. The CARES Act is very broad and contains provisions for Small Business Administration loans, assistance to distressed sectors,…

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Coronavirus Relief Bill Signed

President Trump on Friday signed a massive relief bill to respond to the significant economic fallout of the coronavirus pandemic, after it was approved by a voice vote in the House earlier in the afternoon. The bill is enacted as a record number of Americans have filed unemployment claims and the U.S. topped China as the country with…

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Families First Coronavirus Response Act

Families First Coronavirus Response Act, H.R. 6201 On March 14, the U.S. House of Representatives passed The Families First Coronavirus Response Act (Act), a bipartisan 110-page bill, and on March 18, 2020, the U.S. Senate passed the bill without further change. Hours later, President Trump signed the legislation into law. The Act provides a wide…

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Georgia State Tax Filing Deadline Now July 15, 2020

Following Governor Kemp’s announcement to extend the Georgia state tax filing deadline in a press conference held a few days ago, the Georgia Department of Revenue (DOR) issued a press release today, which officially extends certain filing and payment deadlines to align with federal IRS relief. Specifically, Georgia DOR’s extension is for state income tax…

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Update on SBA Economic Injury Disaster Loan (EIDL) Applications for Nonprofits

Update on SBA Economic Injury Disaster Loan (EIDL) Applications for Nonprofits As the application process moves forward, the SBA continues to provide guidance and clarification in regards to the disaster loan application process. Nonprofits can apply for loans through the program; however, we have been advised that personal guarantees are required for nonprofits similar to…

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