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Recent Insights
Highlights of CFAP Relief for Farmers and Ranchers
Reading Time: 5 minutesUpdate 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 …
SBA Issues First Guidance for PPP Loan Forgiveness Application
Reading Time: 5 minutesOn 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 …
Read moreSBA Issues First Guidance for PPP Loan Forgiveness Application
SBA Issues New Guidance on PPP Loan Amounts for Partnerships and Seasonal Employers
Reading Time: 5 minutesIt’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 …
Read moreSBA Issues New Guidance on PPP Loan Amounts for Partnerships and Seasonal Employers
Employee Retention Tax Credits: Are Banks Eligible?
Reading Time: 2 minutesAs 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 …
Read moreEmployee Retention Tax Credits: Are Banks Eligible?
How COVID-19 is Impacting Banking Regulations
Reading Time: 4 minutesChanges 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 …
Risk-based Supervision and Your Next BSA/AML Exam
Reading Time: 2 minutesThe 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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