Taxation Outcomes About COVID-19 EIDL Financing Default and how to Mitigate Them

New Coronavirus Support, Relief, and you can Financial Safeguards (“CARES”) Work registered the latest U. This new percentage deferral several months, totaling a period of up to 30 months regarding day of one’s promissory note, has started so you’re able to sunset, and you can fee has started to become owed for borrowers exactly who took money aside at the beginning of this new pandemic.

Short loans, around $200,000, failed to wanted individual promises of the small enterprises; the fresh new money could be safeguarded from the providers assets by yourself. Continue Reading