Lake Como Restarts

https://www.youtube.com/watch?v=i_-m1W293Cw&feature=youtu.be As restrictions begin to change and entire countries begin to restart, we hope to continue offering you the support and services you need during this time. From our offices in Como to New York, Milan to San Francisco and Miami, we are here for you. Video Source: https://mylakecomo.co/en/news/lake-como-restarts-video/

PPP Forgiveness Application Update

On June 16, 2020, the SBA released an updated instruction guide and application form for PPP Loan Forgiveness. These updates mirror the changes made by the PPP Flexibility Act, signed into law on June 5th.  On Monday, June 22, they also released a additional revisions to the PPP Loan Forgiveness (which already reflect most of what is included in the…

Forgiveness for the Paycheck Protection Program Loan

Forgiveness for the Paycheck Protection Program Loan (PPP Loan) now has an application with detailed instructions. The SBA and the Department of the Treasury have come together to release a form with detailed instructions and an application for forgiveness. Please note that the application and instructions will be subject to further regulation and guidance. Please see the link below to…

CARES ACT – Highlights for Individuals

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748) was signed into law on Friday, March 27th, 2020. The act is meant to provide economic relief nationwide with a $2 trillion stimulus package. Titles I, II, III, and IV of the Act  (Keeping American Workers Paid and Employed Act,; Assistance for American Workers, Families, and Businesses, Supporting…

Where is My Economic Impact Payment and Other Frequently Asked Questions

If you have been wondering when your Economic Impact Payment is arriving, you are not alone! The IRS has been sending payments through direct deposit over the last few weeks, while distribution of checks will begin this week. Where Can I Check My Payment Status or Add Bank Information?  On the IRS Economic Impact Payments web page! Click on the…

Executive Order 202 Extended

On May 7, 2020, New York Governor Cuomo issued an extension on the mortgage and rent moratorium to August 20, 2020. The extension states: A landlord cannot begin any proceedings or enforcements of evictions for non-payment of rent for residential or commercial tenants facing financial hardship due to COVID-19 for a period of sixty days beginning on June 20, 2020.Foreclosures…

Credit in Italy – Italian Decree Law no. 23

Please find the following contribution from Dott. Cacciavillan, of Asso Studio, in Vicenza; Dott. Gilberto Gelosa, Dott. Maurizio Bottoni, Dott.ssa Daniela Purghe, and Dott. Stefano Lecchi, of Interconsulting Studio Associato, in Milan; and Massimo Bertoni, Commercialista, in Bologna; all of whom are business consultants (commercialisti) we are associated with; regarding the new Decree by the Italian government in response to financial assistance for businesses affected by COVID-19. With the Decree Law…

Force Majeure

Please find the following article on Force Majeure provided by the legal firm, Valla & Associates: Majda BarazzuttiApril 6, 2020 Force Majeure Newsletter The COVID-19 pandemic has affected our economy in an unprecedented manner. The flow of commerce has suddenly slowed down, if not come to a complete halt, due to the epidemic in China, which has affected the chain…

UPDATE: Paycheck Protection Program (PPP) — What is it?

Provides small business with funds to pay up to 8 weeks of payroll costs including benefits [1]June 30, 2020 is the deadline for the Paycheck Protection ProgramSBA will forgive the portion of the loan proceeds that used to cover the first eight weeks of pay roll costs, rent, utilities and mortgage interest. [2]It is Section 1102 of the CARES Act.…