Publications

When President-Elect Biden takes office on January 20, many in the banking industry are hoping that he is met with a divided Congress and a Senate under Republican control. The general wisdom behind such thinking is that a divided Congress is unlikely to pass any significant legislation impacting financial services,  […]

Cloud Benefits and Costs An annual study by IBM and Ponemon Institute (the “Study”) reviews and reports the average costs associated with data breaches and how different technologies, industries, or preventative measures affect the average.  The Study reports averages based on a “per-record” basis.  A “record” can be any data […]

On election day this November, Californians passed the California Privacy Rights Act (“CPRA”), also known as CCPA 2.0, as a ballot initiative.  We previously provided a high-level overview of the CPRA, here, but now that the initiative passed, it is time for a deeper dive into this new round of […]

Last Friday, we published an article summarizing Revenue Ruling 2020-27, which prevented taxpayers from taking a deduction for expenses paid using Paycheck Protection Program (“PPP”) funds in the year incurred if, “at the end of such taxable year, the taxpayer reasonably expects to receive forgiveness of the covered loan on […]

Borrowers of Paycheck Protection Program (“PPP”) loans, which are guaranteed by the Small Business Administration (“SBA”), have reached the end of their covered periods, and many are in the process of seeking forgiveness of their PPP loans.  Unfortunately, questions remained about the federal income tax consequences of potential loan forgiveness […]