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Category: Business Law

A new federal law will require business entities to report their ownership information to the Financial Crimes Enforcement Network (FinCEN). On January 1, 2021, Congress enacted the Corporate Transparency Act (CTA) as part of the National Defense Authorization Act for 2021. The U.S. Department of the Treasury and FinCEN adopted Regulations implementing the CTA on September 30, 2023.
The recent 2020 stimulus legislation enacted by Congress was signed into law by President Trump in Dec. 2020. Among other things, it changed a provision relating to the deductibility of business meals. Under this change, business meals provided by restaurants…
In April of this year, the federal government established the Payment Protection Program (PPP) to facilitate more than 4.9 million loans for small businesses wanting to keep their employees on payroll. As the PPP permits, many borrowers have applied for…