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PPP

Stories tagged as "PPP"


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​Businesses, Nonprofits with Fewer Than 20 Employees Have Access to Two-Week PPP

Feb 24, 2021, 4:04 AM

Mom-and-pop businesses and small nonprofits have exclusive access to the Paycheck Protection Program from Feb. 24-March 9.
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​IRS OKs Tax Credit for Unforgiven PPP Loans

Jan 26, 2021, 7:18 AM

If your business didn’t receive forgiveness for your Paycheck Protection Program loan, you now have the option to claim the Employee Retention Credit instead.
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​SBA Releases New Simplified PPP Form for Smaller Loans

Jan 21, 2021, 3:30 PM

The SBA released their newest version of the simplified loan forgiveness form for PPP borrowers. This new version is for borrowers with loans of $150,000 or less.
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More PPP Guidance Released

Jan 20, 2021, 3:37 AM

There’s more government guidance for businesses considering applying for their first or second round of Paycheck Protection Program loans.
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For Farmers and Ranchers, New PPP Loan Calculations

Jan 18, 2021, 5:23 AM

The new Economic Aid Act changes how Payroll Protection Program loans are calculated for farmers and ranchers. Previously, the government calculated PPP loan amounts using net farm income. Under the new law, ag producers should use gross farm income.
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SBA Issues Guidance on the Second Round of PPP

Jan 11, 2021, 6:35 AM

​The Small Business Administration’s interim final rules regarding the latest round of the Paycheck Protection Program answered some key questions. For businesses that want to apply for their first or second PPP loan, the application process is now open.
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What’s New in the Second Round of PPP

Dec 30, 2020, 12:43 PM

The latest round of COVID-19 relief funding provides $284 billion for another round of the Paycheck Protection Program — often referred to as PPP2. The SBA is expected to issue new guidance within 10 days of the enactment of the new act. In the meantime, here are some differences between PPP and PPP2.
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​What the Latest Round of COVID-19 Federal Relief Funding Means for You and Your Business

Dec 22, 2020, 5:12 AM

Business owners can now write off expenses they used forgiven PPP loans to pay for. There's also more money for PPP2 and EIDL grants, in addition to another round of stimulus payments.
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PPP: While Congress Tries to Reach an Agreement, New Data Causing Concerns

Dec 18, 2020, 9:27 AM

If PPP2 passes, it'll be aimed at borrowers who exhausted the first round of funding. It also expands expenses that can be forgiven. Borrowers may need to be ready to move quickly if the bill passes.
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IRS and Treasury Say Businesses Can’t Deduct PPP Expenses

Nov 30, 2020, 2:50 AM

​If you took out a PPP loan for your business because of the pandemic, you won’t be able to deduct those expenses on your taxes if your loan’s forgiven. So when it comes to your taxes and deductions for this year, you have a couple of options.
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