On the evening of December 21, 2020 the House and Senate passed the Consolidated Appropriations Act, 2021 (the “Act”), a 5,593 page bill that funds the federal government for the next fiscal year and provides long anticipated...more
12/23/2020
/ Borrowers ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
IRS ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business ,
Tax Deductions ,
Tax Planning
Today by Interim Rule the Treasury Department and Small Business Administration jointly made it much easier for some Paycheck Protection Program (“PPP”) loan borrowers to get forgiveness for their loans. If the PPP loan...more
On Tuesday evening (June 22nd), the Small Business Administration (SBA) and Department of the Treasury released revisions to the interim final rule on forgiveness (issued May 22nd) and the interim final rule on loan review...more
On June 16 the SBA issued a revised Paycheck Protection Program (PPP) Loan Forgiveness Application along with updated instructions. The update in large part reflects the changes made to PPP by the Paycheck Protection Program...more
Both the House and the Senate have now passed HR 7010 providing PPP borrowers more favorable terms. We first alerted you on May 27th of possible changes to PPP being considered by both the House and the Senate. Last night in...more
As some Paycheck Protection Program loan borrowers approach the close of their eight week covered period (the period during which loan proceeds can be used for certain expenses and the corresponding loan amount can be...more