The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.
The institute released guidance on how to account for forgivable loans under the Small Business Administration’s Paycheck Protection Program.
Accountants, as well as lawyers and consultants, who helped small businesses apply for emergency relief funds through the Paycheck Protection Program want to be compensated. Are they entitled to be?
The bill, which passed the House last week on a 417-1 vote, now heads to President Donald Trump’s desk for his signature.
Two years ago, the Tulsa, Okla., company expanded its Native American casino lending business nationwide. It seemed like a great plan until the coronavirus pandemic struck.
Senate Majority Leader Mitch McConnell will attempt to expedite approval of changes to the popular Paycheck Protection Program aimed at giving small businesses more flexibility in using the money from the fund, according to Senate aides.
Bill Smith, managing director of the National Tax Office of CBIZ MHM, discusses the loan forgiveness provisions of the PPP, along with the employee retention credit, net operating loss carrybacks and economic impact payments, along with the prospects for the next round of stimulus in Washington.
The House voted Thursday to give small businesses financially strapped by the COVID-19 crisis more flexibility to spend forgivable loans for payrolls and expenses from the government’s popular Paycheck Protection Program.
The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven.
The SBA’s form clarifies some issues, but still leaves questions to be answered.