PPP
Stories tagged as "PPP"
Updated PPP Loan Forgiveness Application Forms
Jun 17, 2020, 12:10 PM
The SBA released two Paycheck Protection Program loan forgiveness application forms today — a revised PPP loan forgiveness application and an EZ application form.
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New Legislation Extends and Adjusts PPP
Jun 4, 2020, 9:48 AM
The Paycheck Protection Program Flexibility Act of 2020 gives borrowers three times as much time to use PPP loan proceeds to pay for business expenses.
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PPP Loan Forgiveness Solution
May 14, 2020, 5:01 AM
It’s difficult to keep up with and understand all of the nuances of the new government aid. We don’t want you to feel overwhelmed or alone during this time. So, we’ve created an innovative solution to help you forecast, document, and report your Paycheck Protection Program loan forgiveness.
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Alert: PPP Good-Faith Certification Review Guidance
May 13, 2020, 7:17 AM
The Small Business Administration and U.S. Department of the Treasury have determined a safe-harbor clause for certain applications. For a PPP loan that’s less than $2 million, the SBA will deem that the borrower has made the required good-faith certification concerning the necessity of the loan.
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ALERT: Expenses Paid with PPP Funds Not Deductible
May 1, 2020, 5:26 PM
The IRS issued Notice 2020-32 on April 30 to clarify details on how expenses incurred as part of a Paycheck Protection Program will be taxed. The debt forgiveness is not taxable, but the covered expenses incurred in the payroll, rent, mortgage interest, and utilities are not deductible.
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ALERT: New PPP Guidance Issued
Apr 30, 2020, 4:26 AM
The Small Business Administration updated its FAQs to provide some clarity about program specifications. Any business that received a PPP loan before the SBA issued its new guidance — and that believes they don't demonstrate necessity for the loan — can repay the full loan by May 7, 2020.
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PPP and Health Care Enhancement Act Signed into Law
Apr 24, 2020, 7:49 AM
The government enacted more help for small businesses and farmers and ranchers on Friday, April 24, with an amendment to the original CARES Act.
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Paycheck Protection Program Guidance Issued
Apr 1, 2020, 9:15 AM
The Small Business Administration released some guidance for the nearly $350 billion Paycheck Protection Program — or PPP. The program aims to assist small and mid-sized businesses deal with the financial fallout of the COVID-19 health crisis. The application process for small businesses — as well as nonprofits and sole proprietorships — starts Friday, April 3, 2020.
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