Landmark SCOTUS Decision Holds Title VII Prohibits Discrimination on Basis of Gender Identity and Sexual Orientation

Today, the U.S. Supreme Court ruled that employers who discriminate against gay and transgender workers violate Title VII. The Court’s 6-3 decision resolves a longstanding circuit split on this issue and extends Title VII protections to LGBTQ+ employees across the country. Justice Gorsuch drafted the majority opinion for the Court, and was joined by Chief Justice Roberts and Justices Ginsberg, Breyer, Sotomayor, and Kagan. For employers, we examine the ruling below and offer key takeaways. In its long-awaited and hotly-debated decision, the . . . Read More

Treasury and SBA to Make Changes Regarding Enactment of PPP Flexibility Act

On May 28, 2020, we wrote about the Paycheck Protection Program Flexibility Act (the Act), a new piece of legislation introduced in the House of Representatives. The Act’s intended purpose was to give employers more latitude regarding the use of their Paycheck Protection Program (PPP) loans while also increasing loan forgiveness in order to stimulate the economy. Since then, the Senate has passed the Act and President Trump signed it into law . On June 8, 2020, U.S. Department of the Treasury . . . Read More

Congress Approves Significant Changes to SBA’s Paycheck Protection Program

As we reported in our previous alert , the bipartisan bill the Paycheck Protection Program Flexibility Act of 2020 , was passed on May 28, 2020 by the House of Representatives. Last night, the Senate passed the bill, which now heads to President Trump for his signature.  If signed into law by the President, the bill will make significant changes to SBA’s Paycheck Protection Program, including: Extend the “covered period” under which small businesses can spend the loan proceeds from eight weeks to 24 weeks or until December . . . Read More

The Paycheck Protection Program Loan Forgiveness Application: Cracking the Code and Deciphering the Confusion

As noted in our previous alert , SBA recently released its long-awaited PPP Loan Forgiveness Application. Unfortunately, the Forgiveness Application is difficult to understand and complete. To help crack the code, we have put together the following analysis with our review of the application, SBA’s newly released guidance as to the loan terms, and key issues in the application, as well as input from our accounting partners.  1.      Necessary Documents Before you fill out your Forgiveness Application, you will need to have . . . Read More

House Passes Legislation Modifying Existing PPP Regulations

On May 28, 2020, the U.S. House of Representatives passed the Paycheck Protection Program Flexibility Act of 2020 (the Act), new legislation meant to provide additional assistance to small businesses and loosen regulations related to the Paycheck Protection Program (PPP). Should this bill become law, it would make major adjustments to the PPP. The Act makes a few notable changes to PPP’s current loan forgiveness guidelines by: extending the period for which a PPP Loan may be obtained to December 31, 2020; increasing the length of time . . . Read More

DOD Issues New CARES Act, Section 3610 Guidance

Guidance from the Department of Defense (DOD) has finally been issued related to Section 3610 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which allowed for payments to federal contractors to keep non-working employees at the ready to return to work when required to do so. The new guidance can be found here . As we noted in a previous  blog , the CARES Act allows contracting officers to pay contractors at the “minimum applicable billing rates” for any employees . . . Read More

SBA Issues Long-Awaited PPP Loan Forgiveness Application

SBA recently issued its 11-page Paycheck Protection Program Loan Forgiveness Application, linked here . The application walks borrowers through a step-by-step process to determine loan forgiveness amounts based upon the information the borrower enters. It is of note that the application does require borrowers to provide documentation to support the payroll and non-payroll costs paid using PPP Loan funds. This includes the following information to prove the funds were properly spent on covered liabilities incurred, or which became due, during the 8-week period following . . . Read More

SBA, Treasury Issue New Guidance Concerning Good-Faith Certification on the Necessity of Their Loan Request

On May 13, 2020, the Small Business Administration (“SBA”) and Treasury Department (“Treasury”) released new guidance  concerning good-faith certification for Paycheck Protection Program (“PPP”) loan requests. This new guidance clarifies that businesses seeking a PPP loan of less than $2 million will have made their request in good faith unless proven otherwise. SBA and Treasury released this guidance because they believe that borrowers within this safe harbor threshold do not have as much access to other sources of funds that larger loan . . . Read More

Social Engineering Fraud: 4 Steps Every Company Needs to Take Right Now

GovCon Co., a successful government contractor, receives an email from the billing or accounting representative of a trusted vendor, subcontractor, or teaming partner asking for payment of an outstanding invoice stating, “Please note our new bank account information in your system for any current and future wire transfers.” GovCon Co. wires the money to this trusted business partner, believing it has satisfied its payment obligations.  A few weeks later, the business partner calls and asks why its latest invoice has . . . Read More

SBA Implements WOSB / EDWOSB Certification Requirement and Revises Economic Disadvantage Criteria for 8(a) Eligibility, Including Treatment of Retirement Accounts

Just under one year ago, we wrote  about the Small Business Administration’s (SBA) proposed rule regarding implementing a certification requirement for Women-Owned Small Businesses (WOSBs) / Economically Disadvantaged Women-Owned Small Businesses (EDWOSBs) and revised economic disadvantage criteria for 8(a) eligibility. SBA’s  final rule  was recently published, implementing just that. The rule will impact businesses seeking to compete for government contracts under the WOSB and 8(a) Business Development programs. WOSB / EDWOSB Certification Effective October 15, 2020, WOSB / EDWOSBs will be required to be . . . Read More