Redpath Insights

November Paycheck Protection Program (PPP) Loan Forgiveness Guidance

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...

New SBA Forms for Large PPP Borrowers

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...

PPP Loan Forgiveness FAQ Updates for August

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,...

SBA Releases New Interim Final Rule and Loan Forgiveness Applications

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...

What Nonprofits Can Do to Recover from the Coronavirus Crisis

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...

SBA Interim Final Rule: Partnerships and Seasonal Employer Loan Increases

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 FAQ: PPP Loan Certification Review

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 โ€œgood faith.โ€ The article below reflects the new extension. On May...

Preparing for PPP Loan Forgiveness

UPDATED: May 1, 2020 - 11:44 a.m. On April 30, 2020, the IRS issued Notice 2020-32 which provides guidance regarding the deductibility of expenses related to tax-free loan forgiveness from the Paycheck Protection Program (PPP). The Notice...

Minnesota Unemployment Relief for COVID-19

UPDATED: May 8, 2020 at 4:19 p.m.  A lot has changed over the last six weeksโ€”while business owners have been focused on navigating their business operations under new circumstances, many workers have found themselves navigating the application...

Covid-19 Update: MN DEED and SBA Disaster Loans, Individual Tax Extension

March 23, 2020 - The Minnesota Department of Employment and Economic Development (DEED) has shared information about the U.S. Small Business Administration (SBA) Economic Injury Disaster Loans which are now available for Minnesota businesses.