…be welcome relief and would seem to return the Paycheck Protection Program no forgiveness of debt income to the initial Congressional intent. Our team continues to monitor the Paycheck Protection…
…the Small Business Administration’s Paycheck Protection Program (PPP) On March 31, the Small Business Administration (SBA) issued two documents: A sample Paycheck Protection Program Loan Application Paycheck Protection Program Information…
SBA PPP LOAN FORGIVENESS RULES By Scott Zickefoose, CPA, CM&AA, Tax Senior Manager Note: This article was updated May 6, 2020 to reflect the new deadline for Paycheck Protection Program…
…day of the covered period. Modifications Applicable to New Paycheck Protection Loan Borrowers PPP loan borrowers receiving loans after the enactment of the Paycheck Protection Program Flexibility Act of 2020…
Note: New guidance on the SBA Paycheck Protection Program has been released. Please note the changes here. Our team is closely monitoring the developments of the COVID-19 pandemic and are…
SBA PPP LOAN FORGIVENESS RULES By Scott Zickefoose, CPA, CM&AA, Tax Senior Manager PPP Loan Forgiveness Guidelines Note: Learn more about the new deadline for Paycheck Protection Program loan qualification…
…the Covered Period. Paycheck Protection Program Guidance on Other Nonpayroll Costs Treasury also released guidance that excludes expenses incurred in connection with operations of tenants or sub-tenants of the PPP…
…2020-32. This notice provides guidance regarding the deductibility for Federal income tax purposes of expenses incurred in a taxpayer’s trade or business when the taxpayer receives a Paycheck Protection Program…
…not apply to any taxpayer that has loan forgiveness under the Paycheck Protection Loan program. Since the decision about loan forgiveness will happen sometime in the future and is not…
…$2.2 trillion stimulus package that provided relief to small businesses and individuals. The Paycheck Protection Program (PPP) allocated funding to small businesses through new and enhanced loan programs administered by…
SBA PPP LOAN FORGIVENESS RULES By Colin Hannifin, CPA, Business Assurance & Advisory Services Manager Accounting for a Forgivable Loan Received Under the Small Business Administration Paycheck Protection Program In…
SBA PPP Loan Forgiveness Rules The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses negatively impacted by COVID-19 to keep their workers…