PPP Application Window Extended to Aug. 8
The application window for the Paycheck Protection Program has been officially extended to Aug. 8 as the extension has been signed into law by President Trump.
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SBA Offers Tool to Match Small Businesses with PPP Lenders
The U.S. Small Business Administration recently announced the relaunch of Lender Match, an online tool that will be focused on connecting pandemic-affected small businesses who have not yet applied for or received an approved PPP loan with SBA lenders.
View MoreCongress Passes Paycheck Protection Program Flexibility Act
The U.S. Senate has passed the House’s version of the Paycheck Protection Program (PPP) Flexibility Act in support of small businesses who received PPP financial relief and now need more flexibility in its use.
View MoreTennessee to Offer Relief to Small Businesses Impacted by COVID-19 Pandemic
Governor Bill Lee recently announced federal Coronavirus Relief Funds will be available to assist Tennessee small businesses impacted by the COVID-19 pandemic.
View MoreU.S. House of Representatives Passes PPP Flexibility Act
The U.S. House of Representatives has passed the Paycheck Protection Program Flexibility Act in support of small businesses who received PPP financial relief and now need more flexibility in its use.
View MoreSBA Releases PPP Loan Forgiveness Application Form
The Small Business Administration, in consultation with the Treasury, recently released an application form for Paycheck Protection Program loan forgiveness, as well as instructions on completing the form.
View MoreAICPA Offers Loan Forgiveness Calculator for Paycheck Protection Program
The AICPA has created a loan forgiveness calculator for the Paycheck Protection Program and recently shared it with the Treasury Department and Small Business Administration.
View MoreSBA Provides Safe Harbor for PPP Loans Under $2 Million
The U.S. Small Business Administration recently posted guidance regarding the required certification concerning the necessity of Paycheck Protection Program loan requests.
View MoreSBA Issues PPP Guidance on Laid-off Employees Who Refuse to be Rehired
The Small Business Administration recently issued guidance stating businesses that received Paycheck Protection Program loans can exclude laid-off employees from loan forgiveness reduction calculations if the employee turns down a written offer to be rehired for the same salary/wages and number of hours as before.
View MoreIRS Releases Guidance on Non-Deductibility of PPP-Related Expenses
The IRS recently released guidance via Notice 2020-32 stating taxpayers that receive a loan through the PPP can’t deduct expenses that are normally deductible if those expenses were reimbursed by a PPP loan that was subsequently forgiven.
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