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IRS Issues Safe Harbor Regarding Deductibility of Certain Eligible Expenses Paid or Incurred in 2020 by Taxpayers that Received First Draw PPP Loans

USA - April 26 2021 If you filed your 2020 tax return prior to December 27, 2020 when the Consolidated Appropriations Act of 2021 (the “CAA”) was enacted and therefore…

Laura Marsell, Christopher S. McLoon, Melissa Sampson McMorrow

Fintech in Brief: Banking Agencies Request Information on the Use of Artificial Intelligence by Financial Institutions

USA - April 5 2021 On March 29, 2021, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National…

Seth P. Berman, William J. Bernat, Thomas J. Curry, Kenneth F. Ehrlich, Jeremy Halpern, Matthew D. Hanaghan, Kate Henry, Meghan E. Kelly, Michael K. Krebs, Armand J. Santaniello

Employee Retention Tax Credits: Another Potential Benefit for Economically Challenged Businesses

USA - March 17 2021 After the passage of the CARES Act last year, the clear focus of small businesses was on the Paycheck Protection Program (the “PPP”). A slightly less…

Mary Martin, Shannon S. Zollo

Fintech in Brief: OCC Issues New Crypto-related Interpretive Letter

USA - January 6 2021 On January 4, 2021, the Office of the Comptroller of the Currency (OCC) issued the latest in a string of interpretative letters on permissible…

Seth P. Berman, William J. Bernat, Thomas J. Curry, Kenneth F. Ehrlich, Jeremy Halpern, Matthew D. Hanaghan, Kate Henry, Meghan E. Kelly, Michael K. Krebs, Armand J. Santaniello

Special Edition Nutter Bank Report: COVID-19 Relief in the Consolidated Appropriations Act, 2021

USA - December 28 2020 A long-awaited bipartisan stimulus bill was signed into law by President Trump on December 27, 2020. Included in the law, known as the Consolidated…

Thomas J. Curry, Kenneth F. Ehrlich, Amanda Getchell, Matthew D. Hanaghan, Michael K. Krebs