COVID-19 NEWSROOM

Covid-19 has changed all of our lives and on many different levels. GranthamPoole is dedicated to providing our clients with the latest information on ways that it has and could affect your finances. We’re monitoring and summarizing any changes in state and local legislation as well as providing expert opinions here so check back often.

RECENT NEWS & ARTICLES

Mississippi Relief for Rental Property Owners and Businesses

On October 9, 2020 the Mississippi Rental Assistance Grant Program (MRAP) was established to award grants to owners and landlords of Mississippi rental property.  When the CARES Act passed in March of this year, it included a moratorium on...

Executive Order on Tax Deferrals Explained

On August 8, 2020 President Trump issued an Executive Order allowing the deferral of payroll tax obligations due to the continuing Covid-19 crisis.  Last Friday, the IRS issued guidance related to the implementation of this Order (Notice 2020-65).  The...

The Latest Guidance on PPP Loan Forgiveness

A little more than three weeks ago, President Trump signed into law the PPP Flexibility Act of 2020 (Flexibility Act) which made some significant changes to the Paycheck Protection Program (PPP), a loan program introduced in the CARES Act of...

CARES Act Makes Long-Awaited Correction to the “Retail Glitch”

The Tax Cuts and Jobs Act (TCJA) was a major overhaul of the U.S. Tax Code passed in 2017.  Of course, 2017 seems like decades ago considering all that has transpired since then, most notably the coronavirus pandemic.  Unfortunately, it took a...

Mississippi Coronavirus Relief Bill Signed

Last week, Governor Tate Reeves signed a bill to provide $300 million in relief to small businesses in Mississippi.  The $300 million is part of the federal relief provided to states in the CARES Act passed in Washington on March 25. The...

Returning to Business – But Not “As Usual”

I started joking weeks ago that overuse of the word “unprecedented” resulted from everyone’s avoiding use of more colorful terms when distinguishing the new world from pre-pandemic reality. You’ve barely been able to get through a news conference since...

Your Business Got a Paycheck Protection Program Loan! Now What?

Recipients of PPP loans have 8 weeks from the date of funding to spend the loan on specific allowable expenses if they want to benefit from the program’s forgiveness provisions.   Taking care of some details on the front end will surely help with...

Paycheck Protection Program Loans Subject to Scrutiny

Two aspects of the PPP loan program have made it extremely popular. First, the opportunity for most or possibly all of the loan to be forgiven and second, significantly less documentation and proof of need being required from the borrower supporting how...

Paycheck Protection Program and Loan Forgiveness

If you are one of the fortunate businesses to receive a Paycheck Protection loan from the SBA in the first round of CARES Act funding, you have cleared a major hurdle in sustaining your business during an uncertain time. Now, the task of securing loan...

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