Paycheck Protection Program Flexibility Act Headed to the President’s Desk

By |2020-06-04T08:07:42-05:00June 4th, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack The Paycheck Protection Program Flexibility Act is one step away from becoming law. Without much fanfare or warning the Act was passed by voice vote In the US Senate without objection and now heads to the other end of Pennsylvania Avenue for the signature of the President. For some this will [...]

COVID-19 Impacts on Boards of Adjustment and Planning Boards in New Jersey

By |2020-06-01T10:58:53-05:00June 1st, 2020|Commercial Real Estate & Land Use, COVID-19|

By: Jeffrey Hall As the COVID-19 pandemic rages on in the Tri-State area, it has had profound effects on the business of government.  The procedures involved in the planning and zoning process in New Jersey have been significantly impacted.  It seems that the Planning and Zoning Boards in every municipality have abandoned their usual [...]

U.S. House of Representatives Passes PPP Flexibility Act

By |2020-05-29T08:29:30-05:00May 29th, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack Yesterday the US House of Representatives overwhelmingly passed HR 7010, the Paycheck Protection Program Flexibility Act of 2020 (by a vote of 417 to 1) which if approved by the Senate and signed by the President will make significant adjustments to the Paycheck Protection Program. Specifically the bill does the following: [...]

SBA Releases Additional Forgiveness Guidance

By |2020-05-23T09:37:38-05:00May 23rd, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack As the late nightly newscasts were running through their copy one last time before going on the air Friday evening, the SBA released more guidance to start your holiday weekend. Most of it was helpful. Here are some of the highlights: 1. Where there is both a reduction in wages and [...]

SBA Releases PPP Loan Forgiveness Application

By |2020-05-19T08:09:32-05:00May 19th, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack The SBA has released its first version of the application for loan forgiveness. You can download a copy of the application from our website by clicking here. The instructions for the application have provided some additional information on the forgiveness process and interpretation of expenses eligible for forgiveness. This is just the [...]

New PPP Eligibility Guidance Released by SBA

By |2020-05-13T13:57:20-05:00May 13th, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack Less than an hour ago the SBA released “guidance” on the eligibility issue. Originally borrowers were given until May 7, 2020 to satisfy themselves that they met the standard that “current economic uncertainly makes this loan request necessary to support current operations…” SBA then extended the deadline to return funds with [...]

SBA Poised to Change PPP Eligibility Rules before May 14, 2020

By |2020-05-13T13:55:57-05:00May 11th, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack Sometime before May 14, 2020 the Small Business Administration (the “SBA”) will issue new rules which some Paycheck Protection Program (“PPP”) borrowers will have to act upon before the clock strikes midnight and the calendar turns to May 15, 2020. Specifically, the SBA will be speaking to whether borrowers needed their [...]

Szaferman Lakind Cares Adds Rescue Mission of Trenton to List of Donations

By |2020-05-06T15:04:06-05:00May 6th, 2020|Company News, COVID-19|

The COVID-19 crisis has created extraordinary challenges for non-profit agencies throughout the Trenton/Princeton area. Particularly hard hit are those organizations that provide services to our neediest population. As such, Szaferman Lakind is continuing its support of such agencies by contributing $5,000 to the Rescue Mission of Trenton. This is the third such donation during [...]

The Deadline to Appeal New Jersey Assessments Extends Indefinitely

By |2020-04-29T08:44:52-05:00April 29th, 2020|Commercial Real Estate & Land Use, COVID-19|

By: Jeffrey Hall This has been a most unusual tax appeal season.  Normally, most assessments must be appealed by April 1st (May 1st in a revaluation municipality) but not this year!  On March 19, the Supreme Court issued an Order under the authority of the New Jersey Constitution.  NJ CONST. ART. VI Sec. 2, [...]

PPP Loans to Large Companies Cause Backlash & Questions

By |2020-05-11T09:32:23-05:00April 27th, 2020|Business, COVID-19, Paycheck Protection Program|

By: Scott Borsack On April 23, 2020, the Department of Treasury announced that Ruth’s Chris Steak House was returning their Paycheck Protection Program (PPP) loan proceeds and that further guidance would be released on qualification for the loan by large companies with adequate courses of liquidity to support the ongoing operations of a business. [...]

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