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The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 when President Joe Biden signed the extension into law. Continue Reading
This week's topics: IRS makes a major change in computation of excludable ARPA unemployment; PPP loan program applications extended for two months - but funds only likely to last until mid-April without replenishment; PPE is defined by the IRS to represent medical care for purposes of deducting the expenses. Continue Reading
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. Continue Reading
Tips for fostering productive communications with your lender during difficult times. Continue Reading
The Small Business Administration issued new guidance incorporating changes made by the American Rescue Plan, including guidance regarding the Shuttered Venue Operators Grant and PPP loans. Continue Reading
A bill to move the Paycheck Protection Program application deadline from March 31 to May 31 passed the House and goes to the Senate. Continue Reading
Several dozen business groups are endorsing bipartisan legislation that would push back the Paycheck Protection Program’s (PPP’s) application deadline from March 31 until May 31. Continue Reading
The Small Business Administration expects to begin accepting applications in early April for the Shuttered Venue Operators Grant (SVOG) program. Continue Reading
This week's topics: SBA gets PPP loan program change guidance published; Senate revises proposed COVID-19 relief bill, adds partial exclusion for unemployment compensation; IRS continues to “clarify” the virtual currency question on Form 1040; guidance issued on interaction of PPP forgiveness and 2020 employee retention credit. Continue Reading
Rule changes, deadline pressure and processing problems with the Paycheck Protection Program are causing high frustration and anxiety among small businesses. This creates an opportunity for CPAs to provide calm guidance for stressed clients. Continue Reading