Coronavirus Resources & Beyond
The Michigan Work Share Program
In response to the economic havoc brought on by the coronavirus pandemic, Governor Gretchen Whitmer created Michigan’s Work Share program. The Work Share program allows employees whose hours are reduced…
New Guidance Regarding PPP Loan Forgiveness
On May 22, the Small Business Administration (SBA), in conjunction with the U.S. Treasury, released additional guidance for recipients of loans through the Paycheck Protection Program (PPP). A recent article…
SBA Releases Application for PPP Loan Forgiveness
On Friday, May 15, the Small Business Administration (SBA) announced an important release for borrowers who received loans through the Paycheck Protection Program (PPP). The bureau made public a form…
New SBA Guidance Regarding Loan Increases for Partnerships, Seasonal Employers
On May 13, the Small Business Administration (SBA) released new guidance regarding the Paycheck Protection Program (PPP), Business Loan Program Temporary Changes; Paycheck Protection Program – Loan Increases. This is…
New SBA Guidance Regarding Paycheck Protection Program
On May 13, the Small Business Administration (SBA) issued additional guidance regarding the Paycheck Protection Program (PPP). They added a highly anticipated new question to their lengthy FAQ: “How will…
Is My PPP Loan Still Forgivable if My Employees Refuse to Come Back to Work?
The Paycheck Protection Program (PPP) is a loan initiative created by the CARES Act that targets aid to small businesses dealing with losses resulting from the coronavirus pandemic. The big…
IRS Updates FAQ on Employee Retention Credit
On April 29, the Internal Revenue Service (IRS) released a large expansion of their FAQ on the Employee Retention Credit (ERC). The ERC was created as a part of the…
IRS Releases Notice Regarding Tax Deductions and PPP Loan Funds
On Thursday, April 30, the IRS released Notice 2020-32. The announcement effectively disallows a tax deduction for any expenses that are paid via a forgiven Paycheck Protection Program (PPP) loan….
Achieving PPP Loan Forgiveness
Businesses that have managed to secure financing through the Paycheck Protection Program (PPP) are fortunate—but also saddled with a lot of red tape. Business owners and managers should be careful…
Where’s My Recovery Rebate?
As part of the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act, direct economic recovery payments are being distributed to eligible American taxpayers. Distribution of recovery rebates began…