Many Arizona businesses received SBA Paycheck Protection Program (PPP) loans. Our SBA Paycheck Protection Program (PPP) task force helps businesses and nonprofits navigate the forgiveness process. They are familiar with the PPP Loan Forgiveness Application, which is complex and complicated, and can answer your questions.
Beginning February 24, 2021, the Small Business Administration (SBA) is establishing an 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees.
The new round of Paycheck Protection Program (PPP2) loans is available to both new and second-time borrowers. Who gets the money and what are the rules?
The pandemic relief package (Consolidated Appropriations Act, 2021) gives a break to the hardest-hit small businesses by reopening the Paycheck Protection Program and offers them the ability to apply for a second loan. The new round of loans will be limited to those with fewer than 300 employees that have experienced drops of at least 25% in revenue during any quarter of 2020 compared with the same quarter in 2019.
The IRS published a Revenue Procedure and a Revenue Ruling to clarify certain complex and controversial details in PPP loan forgiveness. Read further for a summary of the new IRS guidance.
The SBA issued a new form making it easier for smaller borrowers to qualify for loan forgiveness and clarified due dates. Is your company eligible for the simplified paperwork?
President Trump extended acceptance of Paycheck Protection Program (PPP) loan applications until August 8, 2020, a five-week extension.
The SBA and Treasury agreed with U.S. Senate Small Business Committee bipartisan leadership to make public additional data regarding the Paycheck Protection Program (PPP).
With the enactment of the Paycheck Protection Program Flexibility Act, more than $129 billion in PPP funds are still available.
Join Stephen J. Rodis, CPA and Mark R. Dreher, CPA in an ASCPA live online webcast on June 20, 2020, about current PPP tax issues and status of forgiveness portion of the PPP loan program, including financial reporting options.
The PPP Flexibility Act offers partial loan forgiveness when a borrower uses less than 60% of the loan for payroll costs during the forgiveness covered period.