CapataCPA

AUGUST 4, 2020

PPP Loan Forgiveness Updates Webinar Come join our webinar to get more information on the PPP loan forgiveness process. We will show you what the updated eligible expenses are, cover the new Paycheck Protection Flexibility Act, go through the new Interim Final Rule, and walk you through the rules for loan forgiveness.

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cpa firm CPA 84

Katz,Sapper&Miller

OCTOBER 12, 2020

Small Business Administration and the Department of the Treasury issued an interim final rule (IFR) that simplifies loan forgiveness for borrowers that received Paycheck Protection Program (PPP) loans of $50,000 or less. Late last week, the U.S.

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LSLCPAs

AUGUST 28, 2020

On Monday, Treasury and the SBA issued another Interim Final Rule. The post Part IX – PPP Loan Forgiveness: Good News, Bad News, and Oh, What a Surprise. The Good News Owner-employees are treated less favorably than other employees when calculating potential loan forgiveness.

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PYMNTS

JANUARY 8, 2021

government has unveiled rules for the new $284.5 billion round of its popular Paycheck Protection Program (PPP), which should begin accepting applications soon. For instance, the SBA plans to open the PPP application window exclusively for such businesses for at least the first two days of the program. Second-Time Borrowers .

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PYMNTS

MAY 8, 2020

Businesses raced to apply for the initial $340 billion of the Payroll Protection Program (PPP) funds. The 40-page report issued on Friday (May 8) by the SBA Inspector General found the SBA did not inform lenders the measure was to prioritize underserved communities for the PPP under the $2.2 They were depleted in 13 days.

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PYMNTS

MAY 31, 2020

Congress adopted the $600 billion-plus Paycheck Protection Program (PPP) to help American small- to medium-sized businesses (SMBs) stay afloat by using forgiveness loans to keep their workers employed and cover certain overhead expenses while the economy was shut down. Other SMBs have returned the money as well.

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KROST

DECEMBER 22, 2020

As previously reported, the $900 billion COVID-19 stimulus Bill contains an additional $284 billion for additional PPP loans for small businesses, referred to as Second Draw Loans. Some of the new rules and rule changes apply to both the Initial and Second Draw PPP loans. Tax Deductibility. 2020-27, Rev. Effective Date.

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KROST

JANUARY 11, 2021

Under the Economic Aid Act, the SBA will guarantee loans under the PPP Second Draw Program through March 31, 2021, to borrowers that previously received a First Draw PPP Loan, and have used, or will use, the full amount of that loan, for authorized purposes, on or before the expected date of disbursement of the Second Draw PPP Loan.

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