The CARES Act included several provisions allowing companies to claim net operating losses for past tax years, temporarily reversing some of the limitations in the Tax Cuts and Jobs Act.
Wisconsin officials are still assessing the potential impact on its general fund revenues.
Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.
Employment growth at small businesses improved slightly in May, up 0.25 percent, as stay-at-home orders eased in most states, but that was only after reaching historic lows in April, according to payroll giant Paychex.
The pandemic is prompting financial advisors to use video messages, webinars and even board games to connect with clients and prospects, Hightower Chief Marketing Officer Abby Salameh says in an episode of Financial Planning’s Podcast.
An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing.
The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic.
Sales tax collections fell 13.2% compared to the same month last year, the steepest decline since January 2010
Senate Majority Leader Mitch McConnell will attempt to expedite approval of changes to the popular Paycheck Protection Program aimed at giving small businesses more flexibility in using the money from the fund, according to Senate aides.
The latest update adds a loan forgiveness estimator and PPP-specific reports to QuickBooks Online, among other tools.