SBA 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.
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SBA 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 MoreSBA to Accept PPP Loans Only from Smallest Lenders for Eight Hours Today
In an effort to make Paycheck Protection Program loans more accessible to small businesses, the Small Business Administration will allow the smallest lenders and their small business clients an exclusive opportunity to submit applications from 4 p.m. to 11:59 p.m. ET today, Wednesday, April 29.
View MoreSmall Business Administration Issues Additional Guidance for Paycheck Protection Program
The Small Business Administration recently issued additional guidance for the Paycheck Protection Program, specifically addressing how self-employed and partner income should be included in the loan application.
View MorePaycheck Protection Program Frequently Asked Questions Now Published
Recently the U.S. Department of the Treasury and the Small Business Administration published an online FAQs on the Paycheck Protection Program, the $349 billion small business relief program that is part of the Coronavirus Aid, Relief, and Economic Security Act.
View MorePaycheck Protection Program Applications for Small Business Opens April 3
Under the federal Paycheck Protection Program (PPP), small businesses and sole proprietorships affected by the coronavirus pandemic can apply for loans beginning Friday.
View MoreOMB Extends Single Audit Submission Deadline for Certain Entities
The Office of Management and Budget has issued a memo extending the single audit deadline for certain entities due to the effects of COVID-19.
View MoreFASB Votes to Delay Effective Dates for Major Standards
FASB recently voted unanimously to delay effective dates for private companies and certain other entities for standards on accounting for leases, credit losses and hedging.
View MoreAICPA Issues New Forensic Accounting Standards
The AICPA recently issued new professional standards for members who perform forensic accounting services engagements.
View MoreFASB Looking at Delaying Standards for Private Companies and Nonprofits for Two Years
FASB is considering giving accountants at privately held companies and nonprofit organizations an extra two years to implement standards, instead of the one year it sometimes extends them.
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