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Highlights of CFAP Relief for Farmers and Ranchers

Highlights of CFAP Relief for Farmers and Ranchers

By K·Coe Editorial | May 20, 2020
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Reading Time: 5 minutes
Update 5/21: CFAP Relief Update & Good News for Exporters: The Form CCC-942 that was released this week to certify 75% of Adjusted Gross Income (AGI) is from farming, indicates an IC-DISC dividend derived from farming or ranching activities is considered farm income. This is a change K·Coe has been …

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PPP Certification Criteria: 3 Questions for Every Business

SBA Issues First Guidance for PPP Loan Forgiveness Application

By K·Coe Editorial | May 19, 2020
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Reading Time: 5 minutes
On May 15, the Small Business Administration (SBA) released the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness application and instructions. While there is not yet clear guidance on the details of loan forgiveness (the SBA plans to release regulations and guidance soon to assist borrowers as they complete their loan …

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SBA Issues New Guidance on PPP Loan Amounts for Partnerships and Seasonal Employers

SBA Issues New Guidance on PPP Loan Amounts for Partnerships and Seasonal Employers

By K·Coe Editorial | May 15, 2020
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Reading Time: 5 minutes
It’s been a winding, foggy road for partnerships and seasonal employers trying to apply the Small Business Administration’s (SBA’s) guidance on Paycheck Protection Program (PPP) to their business structures.  In this article, K·Coe advisors provide a summary of the April Interim Final Rule (IFR) updates, the May loan increase IFR …

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Employee Retention Tax Credits: Are Banks Eligible?

Employee Retention Tax Credits: Are Banks Eligible?

By K·Coe Editorial | May 14, 2020
Reading Time: 2 minutes
As we previously reported, we believe banks could be eligible for the Employee Retention Tax Credits (ERTC); although it may not be as easy as we originally thought. Most, if not all, states have deemed banking to be ‘essential services’ during the COVID-19 crisis.  Though many banks have elected to …

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CARES Act: Unemployment Assistance Program Benefits Overview

How COVID-19 is Impacting Banking Regulations

By K·Coe Editorial | May 14, 2020
Reading Time: 4 minutes
Changes in Appraisal Timelines Banks have found it increasingly challenging to obtain, in a timely manner, the required appraisals and evaluations needed for real estate-related financial transactions. In response, the OCC, FRB, FDIC, and NCUA agencies, working with state financial regulators, have issued an interagency statement to specifically address those …

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DOL Guidance for Employers: Action Needed for April 1

Risk-based Supervision and Your Next BSA/AML Exam

By K·Coe Editorial | May 14, 2020
Reading Time: 2 minutes
The FFIEC released an update to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examination manual on April 15, 2020 for the first time in six years.  As the trend has been with regulatory exams, a risk-based approach is how BSA/AML exams will be designed going forward. Important Exam Manual Update: Be …

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Safe Harbor Thresholds

PPP Loan Update: SBA Releases ‘Good Faith’ and Safe Harbor Thresholds

By K·Coe Editorial | May 13, 2020
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Reading Time: 2 minutes
Update: Safe Harbor Thresholds date extended to May 18, 2020 for PPP loan repayment. In response to uncertainties surrounding the good faith certification requirement on Paycheck Protection Program (PPP) loans, the Small Business Administration (SBA), in consultation with the Department of the Treasury, has announced a determination of safe harbor …

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