Tag: paycheck protection program

Procedures for Change of Ownership for PPP Borrowers
SBA Releases Guidance Regarding Ownership Changes Among PPP Borrowers

On October 2, the SBA issued a Procedural Notice to address required procedures for changes…

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PPP Simplified Application for Small Borrowers
New Simplified Loan Forgiveness Application for Smallest PPP Borrowers

PPP borrowers with loans under $50,000 are now exempt from certain reductions in forgiveness and…

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Tax Concerns for PPP Borrowers
Tax Concerns Loom for PPP Borrowers Going into Year-End

Tax concerns loom for PPP borrowers; current guidance indicates expenses related to any loan forgiveness…

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PPP Changes from SBA
SBA Changes PPP Forgiveness Rules for 5% Owner-Employees of Corporations & for Certain Nonpayroll Costs

The SBA issued an Interim Final Rule that sets a de minimis rule for Paycheck Protection…

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Payroll Tax Deferral FAQs
IRS Adds New FAQs on CARES Act Payroll Tax Deferrals

The IRS recently added numerous frequently asked questions (FAQs) on the payroll tax deferrals under the Coronavirus…

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State Reaction to CARES Act
State Legislative & Administrative Reactions to the CARES Act

Some CARES Act provisions that states have decoupled from include the increased business interest expense…

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Employee Retention Credit FAQ
FAQ Updates for Employee Retention Credit & Payroll Tax Deferrals

The IRS recently updated its frequently asked questions (FAQs) on the Employee Retention Credit (ERC)…

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PPP Borrowers: Five Steps
Five Things PPP Borrowers Need to Do Now

Borrowers of PPP loans should consider taking the following steps to maximize the amount and…

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Simplified Paycheck Protection Loan Forgiveness
Paycheck Protection Program Loan Forgiveness Simplified

Many small and midsize businesses with Paycheck Protection Program (PPP) loans under the CARES Act…

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Signing Document
Changes Coming to PPP Loan Periods & Forgiveness

A new PPP bill is expected to pass that will extend covered periods and forgiveness…

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