Month: August 2020
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Client Alert: Payment Protection Program Grants May Result in Unexpected Taxable Income
The Paycheck Protection Program (“PPP”) enacted through the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136) is the government relief program that provided loans to small businesses to cover payroll, rent or mortgage payments and utilities. The loan may be forgiven under certain prescribed circumstances. The issue for recipients now is how to account for the funds. There ... Read More
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Virginia Supreme Court Suspends All Evictions For Rent Nonpayment Until September 7, 2020
A narrowly divided Court, in an order signed by Justice Mims, suspended all writs of eviction pursuant to unlawful detainer actions in Virginia, effective August 10, 2020, and continuing through September 7, 2020. The four-justice majority noted that the ongoing public health emergency limited the ability of tenants to avail themselves of the court system, and the Governor’s request for ... Read More