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The attorneys at Bell, Davis & Pitt are committed to staying current in our respective areas of practice. We maintain this blog to serve as an additional resource for our clients and our communities. Our aim is to provide useful and thoughtful content for anyone in search of information in these areas.

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Paycheck Protection Program

CARES Act Paycheck Protection Program: What Small Businesses Need to Know

April 21, 2020
Justin M. Hardy Kris Bryant Andrew A. Freeman Alan M. Ruley
COVID-19 Legal Insights
This article was originally posted on March 30, 2020 and includes updates as of April 21, 2020. The economic fallout from the COVID-19 pandemic is impacting nearly all Americans. Small businesses and the individuals they employ are in critical need of assistance. The Paycheck Protection Program included in the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) became law on Friday, March 27, 2020. It aims to provide that assistance.
IRS extends additional tax deadlines

IRS Extends More Tax Deadlines to Cover Individuals, Trusts, Estates, Corporations and Others

April 10, 2020
John A. Cocklereece, Jr.
Tax Controversy Law COVID-19 Legal Insights
The Treasury Department and IRS are providing additional relief to taxpayers, postponing until July 15, 2020 a variety of tax form filings and payment obligations that are due between April 1, 2020 and July 15, 2020. Associated interest, additions to tax and penalties for late filing or late payment will be suspended until July 15, 2020. Additional time to perform certain time-sensitive actions during this period is also provided.
Paycheck Protection Program Loan Forgiveness

How to Maximize Paycheck Protection Program Loan Forgiveness

April 7, 2020
Andrew A. Freeman Alan M. Ruley Justin M. Hardy Kris Bryant
COVID-19 Legal Insights
On April 2, 2020, the Small Business Administration (“SBA”) published an interim final rule regarding the Paycheck Protection Program (“PPP”). Hours later on April 3, 2020, thousands of PPP loan applications were filed and businesses started to receive funds. Once PPP loan proceeds are received it is important for business to know what to expect and how to properly use those funds in a manner that will result in forgiveness of the PPP loan. There are at least three things a business obtaining a

Paycheck Protection Program: April 3 is the Rollout - Sort of

April 3, 2020
John A. Cocklereece, Jr.
COVID-19 Legal Insights
Part of the massive CARES stimulus act that Congress passed and President Trump signed last Friday is the $350 billion Paycheck Protection Program ["PPP"].  Simply put, this part of the stimulus is directed to small and medium sized businesses and is meant to provide loans to permit certain businesses [less than 500 employees] to continue to pay payroll [and some other things] that will allow people to stay employed for 8 weeks following the funding of the loan. The big promised benefit is that if you cross your Ts and dot your Is, some or all of the loan will be forgiven.
Online Dispute Resolution

Three Online Dispute Resolution (ODR) Options During the COVID-19 Crisis

April 3, 2020
Colleen L. Byers
COVID-19 Legal Insights Mediation & Arbitration Blog
Given the COVID-19 crisis, North Carolina Chief Supreme Court Justice Beasley continued all Superior Court and District Court proceedings (with a few exceptions) until June 1. The Chief Justice and the North Carolina Dispute Resolution Commission (DRC) have further clarified that mediations fall within the definition of proceedings and are, therefore, also postponed. County Clerks of Court throughout North Carolina are postponing hearings and proceedings for varying lengths of time. North Carolina Appellate Court deadlines have now also been extended. Yet, legal disputes continue to arise. 

IRS Announces Additional Steps to Assist Taxpayers in Light of COVID-19 Outbreak

March 31, 2020
John A. Cocklereece, Jr.
Tax Controversy Law COVID-19 Legal Insights
Following up on our recent blog regarding announcements by the IRS on the delay until July 15 of the normal April 15 tax filing and tax payment deadlines, the IRS has announced other steps to attempt to assist taxpayers in light of the corona virus outbreak.  A quick summary of the IRS's People First Initiative includes the following:

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