January 7, 2021 โ Most of the excitement from the Consolidated Appropriations Act (CAA) came from clarity on the deductibility of PPP expenses and the additional stimulus checks. However, Congress also passed a very favorable extension and...
December 22, 2020 โ This week, votes are being cast on two large measures put together by congressional leaders toward both a $900 billion Covid-19 relief bill and $1.4 trillion omnibus spending bill.
December 10, 2020 - The Paycheck Protection Program (PPP) was created to help American businesses tide over the COVID-19 coronavirus, and businesses applied in droves: about 5 million businesses were approved for PPP loans by the Small Business...
November 19, 2020 - On November 18, 2020, the IRS released additional guidance (Revenue Ruling 2020-27 and Revenue Procedure 2020-51) regarding the deductibility of expenses related to the Paycheck Protection Program when loan forgiveness is not...
November 3, 2020 - The Small Business Administration (SBA) recently announced their intent to issue two new forms for PPP Borrowers with $2 million or more in loans. The purpose of the forms is to gather information that the SBA will use to...
August 7, 2020 - On August 4, the Small Business Administration (SBA) released additional FAQs on Paycheck Protection Program (PPP) loans. They include information applicable to business owners, independent contractors, self-employed individuals,...
UPDATED: June 18, 2020 - The SBA recently issued additional guidance regarding the Paycheck Protection Program (PPP), along with a revised loan forgiveness application and instructions. Click here for the revised application and here for the...
May 13, 2020 - As states begin to allow businesses to open and employees return to work, there is a mix of optimism and concern regarding employee safety and the health of the economy. Nonprofits are no different. Many nonprofits nationwide have...
May 14, 2020 - In the constantly evolving world of PPP loan guidance, the SBA has released another Interim Final Rule (IFR) that provides guidance regarding PPP loan increases for certain partnerships and seasonal employers. Many PPP loans were...
UPDATED: May 14, 2020 - An additional extension has been granted until May 18 for companies to return their PPP loan if there is any question that the certification was made in โgood faith.โ The article below reflects the new extension. On May...
