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Treasury and SBA Update Paycheck Protection Program Loan Guidance

April 9, 2020 | Client Alert

On April 8, 2020, the Small Business Administration (SBA), in consultation with the Department of the Treasury, updated its Paycheck Protection Program Loans frequently asked questions (FAQs).According to the SBA, “Borrowers and lenders may rely on the guidance provided in the document as SBA’s interpretation of the CARES Act and of the Paycheck Protection Program interim final rule (“PPP Interim Final Rule”).

Center for Disease Control Issues Interim Guidance for Implementing Safety Practices for Employees Exposed to Person with Suspected or Confirmed COVID-19

April 9, 2020 | Client Alert

On April 8, 2020, the US Center for Disease Control issued interim guidance, (“Interim Guidance”), for critical infrastructure workers that permits those workers to continue to work even if exposed to COVID-19, so long as they remain asymptomatic and the employer or business takes additional precautions to protect them and the community at large.

Executing Documents During the Covid- 19 Shut Down

April 7, 2020 | Client Alert

On March 26th, Governor Pritzker issued an Executive Order to facilitate witnessing and notarizing of legal documents in Illinois during the Gubernatorial DisasterProclamation (the “Shutdown”). It permits remote notarizing of documents and witnessing of wills and other documents needing witnesses by two-way audio-video technology, provided that both the client executing the document and the Illinois notary or witness are both physically located within the State of Illinois at the time.

IRS Extends Filing Deadline to July 15, 2020

April 3, 2020 | Client Alert

Americans will have an additional three months to file their taxes amid the coronavirus pandemic, the US Treasury Secretary said on Friday, March 20. “We are moving Tax Day from April 15 to July 15,” Secretary Steven Mnuchin wrote on Twitter. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”

CCM COVID-19 Alert – President Signs CARES Act Into Law

April 3, 2020 | Client Alert

On Friday, March 27, 2020, the U.S. House of Representatives passed the “Coronavirus Aid, Relief and Economic Security Act” (the “Act”), which the Senate had previously passed. President Trump later signed the Act into law this afternoon, delivering much needed relief to individuals and businesses.