A bill to move the Paycheck Protection Program (PPP) application deadline from March 31 to May 31 won approval in the U.S. Senate on Thursday, March 25, 2021. The final vote to approve the PPP Extension Act of 2021, H.R. [...]
The U.S. Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month. IRS guidance issued on Wednesday overrides [...]
President Donald Trump has signed into law a new $900 billion coronavirus relief and stimulus package. Among its provisions: An extension of last spring’s Paycheck Protection Program, allowing another $284 billion or so in forgivable, federally backed loans for [...]
The U.S. Small Business Administration (SBA) released guidance Tuesday confirming that Paycheck Protection Program (PPP) loan forgiveness applications are not due on Oct. 31. Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan [...]
The Paycheck Protection Program Flexibility Act (PPPFA) was signed into law on June 5, 2020. This comes just in the nick of time as the original covered period under which the PPP loans could be used and forgiven was [...]
The Treasury Department and the U.S. Small Business Administration (SBA) just released the Paycheck Protection Program (“PPP”) Loan Forgiveness Application. The accompanying instructions and worksheets are very helpful in explaining how employers who borrowed PPP money can obtain forgiveness [...]
