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Business and International Tax Blog

Business and International Tax Developments Blawg
  • Posts by Juan F. Vasquez, Jr.
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    Juan F. Vasquez, Jr. is a Shareholder in Houston and San Antonio. Mr. Vasquez concentrates his practice on federal, state and local tax controversy matters, including in connection with examinations, administrative appeals and ...

Congress late last night passed legislation modifying the Paycheck Protection Program (the “PPP”). The Consolidated Appropriations Act, 2021 (the “Act”) provides $900 billion for COVID-19 related relief, which also includes $285 billion for the restart and expansion of the PPP, is expected to be signed by the President this week. First-time borrowers looking for an initial PPP loan and certain eligible borrowers with existing PPP loans have through March 31, 2021 to apply for the next round of PPP loans (once the SBA starts accepting applications). 

Borrowers with ...