In times of great uncertainty, there is power in knowledge and preparation. In response to the coronavirus (COVID-19) outbreak throughout the United States and beyond, we’ve assembled industry experts to give you guidance and solutions to combat the ramifications on your business.
Continue to visit the Friedman COVID-19 Resource Center for breaking coverage and tactics to inform your financial decision making.
Recent Webinars
May 28, 2020 [Webinar] Further SBA Guidance on PPP Loan Forgiveness
Access the full recording from our recent webinar where our experts addressed the major changes included in the May 22nd Interim Final Rules on Loan Forgiveness and Loan Review Procedures and answered frequently asked questions.
May 20, 2020 [Webinar] New Guidance on PPP Loan Forgiveness Webinar
Watch our recent “New Guidance on PPP Loan Forgiveness” webinar where our experts discussed the Small Business Administration’s recently released guidance on the Paycheck Protection Program’s requirements for loan forgiveness.
Paycheck Protection Program
May 26, 2020 [NEW] Further SBA Guidance on PPP Loan Forgiveness as of May 22, 2020
On Memorial Day weekend, the Treasury and Small Business Administration (“SBA”) released two new Interim Final Rules (“IFR”) – one on Loan Forgiveness and one covering Loan Review Procedures. Read on to learn about the major changes and clarifications with regard to Loan Forgiveness rules.
May 16, 2020 SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application
Fortunately, borrowers now have official guidance regarding Paycheck Protection Program loan forgiveness in the form of an application with detailed instructions. The Small Business Administration said they will also soon issue regulations and guidance to further assist borrowers as they complete their applications. Lenders will also receive further guidance on their responsibilities.
Other Initiatives
April 22, 2020 Small Business Relieve Initiative
Small business owners across America are struggling to keep their workers employed and their businesses alive. In response, the U.S. Chamber of Commerce launched a new $5,000 grant program known as the “Save Small Business Initiative,” which you may be eligible for.
April 15, 2020 Treasury, IRS Unveil Online Application to Help With Economic Impact Payments
Working with the Treasury Department, the Internal Revenue Service today unveiled the new Get My Payment with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information.
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April 21, 2020 [UPDATED] State Tax Filling Guidance for Coronavirus Pandemic
States are providing tax filing relief for individuals and businesses. Here are the details for each individual state.
April 14, 2020 [UPDATED] State Relief: Tax Filing Extensions and Small Business Programs
This chart, a work in progress, provides a summary of state activity relating to extended tax due dates. States are continually updating their information and the dates listed are subject to change. You can also access a summary of available small business relief through state and local programs.
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May 22, 2020 [Webinar] Strengthening Your Cybersecurity for the New Landscape
Watch the live recording of Friedman's cybersecurity experts, who discussed the powerful tools available to help you navigate this rapidly evolving threat landscape and safeguard your business, employees and customers.
March 18, 2020 Ways to Reduce Cybersecurity Risks Among a Remote Workforce
In a national effort to curtail the spread of the COVID-19, we are witnessing the rise of the remote workforce. While companies are focusing on ways to protect their employees, clients and families, cyber attackers are infiltrating insecure cybersecurity postures.
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May 1, 2020 [UPDATED] When Asset Values Fall, Tax Opportunities Arise
While it is worrisome to watch the value of securities, real estate and businesses dramatically decline, those with long-term assets that are expected to appreciate beyond their current valuations should know that the present climate does open windows of opportunity.
March 25, 2020 [UPDATED] Be First in Line for Relief: Preparing Your Claims for Recovery
The outbreak of coronavirus has affected us all. In previous national emergencies, tragedies and disasters, we have been able to turn to sporting events, movies and other forms of “escape.” While these outlets may not be available to us this time, you can take steps to limit the virus’s impact on your business.
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REAL ESTATE
May 27, 2020 [Webinar] Real Estate in Post COVID-19 World
Friedman hosted a webinar featuring a panel of real estate industry experts who discussed COVID-19's impact on the commercial and residential real estate sector in Philadelphia.
NONPROFIT
May 13, 2020 [NEW] New Information on SBA Stimulus Funding and the Uniform Guidance
Due to the far-reaching economic impact of the COVID-19 pandemic, many nonprofit organizations have turned to the emergency funding streams issued by the U.S. Small Business Administration (SBA). These streams include, the Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program Loans (PPP).
FORENSIC, LITIGATION AND VALUATION
March 28, 2020 How COVID-19 and the CARES Act Will Affect Divorces
As the global pandemic reshapes our world introducing unexpected economic and social challenges - divorces, and other family law matters will continue. There are a myriad of predictions of what will happen and when it will happen.
LIFE SCIENCES
March 27, 2020 At a Glance: How COVID-19 is Affecting the Life Sciences Industry
Our Life Sciences industry and community is working fast and furious in an effort to do everything possible to address the pandemic. Biopharmaceutical and Medical Device companies are working closely with Federal and State organizations as well as the World Health Organization to develop vaccines, improve tests and investigate the usefulness of antiviral drugs, as well as other forms of treatment, in combating COVID-19.
CONSUMER GOODS
March 17, 2020 Tying Loose Threads: Fortifying Your Consumer Goods Business Against the Ramifications of COVID-19
On March 4, U.N. economists announced that, once the dust has settled, global manufacturing exports will have dropped by $50 Billion in February alone, precipitated by the newly named COVID-19 (formerly coronavirus).
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April 6, 2020 How the CARES Act Impacts Accounting for Income Taxes in Financial Statements
The CARES Act was designed to offer relief to business owners, but whether you apply for a loan or not, the Act will have implications for your business’ financial reporting.
March 31, 2020 How COVID-19 Affects Financial Reporting
With the coronavirus pandemic affecting all aspects of life, business leaders should be prepared for the impact it will have on the estimates used within the financial reporting process. Such changes will apply to the upcoming quarterly filings for most public companies.
