Coronavirus Resources & Beyond
IRS Releases Anticipated Guidance Regarding PPP Loans and Expense Deductibility
On November 18, the Internal Revenue Service (IRS) releasedRevenue Ruling 2020-27 andRevenue Procedure 2020-51. The two releases offer clarification regarding the non-deductibility of expenses that contribute to the forgiveness of…
SBA Clarifies Due Date of PPP Forgiveness Applications
On October 13, the U.S. Small Business Administration (SBA) released clarifying guidance regarding the due date of forgiveness applications for loans issued via the Paycheck Protection Program (PPP). A recent…
SBA and Treasury Release New PPP Waiver
On October 8, the U.S. Small Business Administration (SBA) and the Treasury announced the release of a simplified forgiveness process for Paycheck Protection Program (PPP) participants that received loans of…
IRS Issues Guidance Regarding Payroll Tax Deferral
On Friday, August 28, the Internal Revenue Service (IRS) released Notice 2020-65, which offers guidance regarding the implementation of the Presidential Memorandum on the deferment of some payroll taxes. The…
SBA and Treasury Release Additional PPP Guidance
On August 24, the Small Business Administration and Treasury made available a new set of guidance regarding Paycheck Protection Program (PPP) forgiveness issues. The new interim final rule covers two…
Presidential Memos Address Coronavirus Issues
Over the weekend, President Trump issued a series of executive actions. Three of the four memos aim at extending CARES Act provisions that have expired already or will expire soon….
SBA Issues 23 New PPP FAQs
On August 4th, the U.S. Small Business Administration (SBA) released additional guidance regarding forgiveness of Paycheck Protection Program (PPP) loans. In consultation with the U.S. Department of the Treasury, the…
PPP Gets Five-Week Extension
On Wednesday, July 1 the House agreed unanimously to an extension of the Paycheck Protection Program (PPP). The five-week extension originated in the Senate on Tuesday, where it was approved…
SBA PPP Guidance Update—June 25-26, 2020
The United States Small Business Administration (SBA) released yet another round of guidance updates regarding the Paycheck Protection Program (PPP). The areas covered by this latest release are maturity dates…
PPP Funding Deadline Approaching
With so many recent changes to the Paycheck Protection Program (PPP) it’s hard to believe the deadline to apply for funding is only a few days away! Tuesday, June 30 will be…