Tag: Uncovered Claims

On July 29, 2020 , Governor Jay Inslee issued new guidance based on recommendations from the CDC regarding employees at risk for contracting Covid-19.  The governor’s proclamation extends indefinitely, or until otherwise amended, protections provided to employees who are at high risk.  High risk employees are defined as employees age 65 or older, employees who...

In the midst of national and global turmoil, President Trump signed into law new legislation on the Paycheck Protection Program (PPP). The new law makes significant changes to the original provisions of the law. Employee Compensation and Business Expenses: Originally, any employer who obtained a PPP loan was required to use 75% of the funds...

On Sunday,  May 17, in a previous client update note on the Paycheck Protection Plan (PPP) loan forgiveness, we informed you that the Department of Treasury (USDT) had provided an alternative time frame for consideration of what would be forgiven.  That change permitted both paid and incurred eligible expenses as part of what could be...

On Sunday, May 17, we issued an update on PPP loans which discussed the change in time frame which would be considered for loan forgiveness.  At the same time that this new guidance was issued, the United States Department of the Treasury (USDT) issued additional guidance which clarifies under what circumstances loan forgiveness can be...

On Friday, May 15, the Small Business Administration (SBA), in consultation with the Treasury Department, issued new guidelines on how employers who have received PPP loan proceeds can apply those loans and still be in compliance with the regulations that will be used to assess whether an employer has met the requirements to receive loan...

On Wednesday, May 13, 2020, the Treasury Department, after consultation with the Small Business Administration, issued new guidance regarding good faith certifications for businesses that received Paycheck Protection Loan (PPP) funds. After issuance of multiple statements starting in April, 2020 regarding the impact of accepting PPP funds if a business had access to other sources...

On April 23, 2020, in response to the hue and cry from many members of the public that large businesses such as the Ruth’s Chris Steakhouse had received PPP funds, the Small Business Administration announced that large businesses with adequate sources of liquidity would not likely be entitled to the funds through this new program.[1]...