On Wednesday, June 3, the Senate passed the Paycheck Protection Program Flexibility Act of 2020. The bill, which had previously passed the House and which President Trump signed today, makes significant improvements to the Paycheck Protection Program (PPP) by easing the rules for loan forgiveness. Changes include
Read more →This notice provides guidance regarding the deductibility for Federal income tax purposes of certain otherwise deductible expenses incurred in a taxpayer’s trade or business when the taxpayer receives a loan (covered loan) pursuant to the Paycheck Protection Program under section 7(a)(36) of the Small Business Act (15
Read more →To help everyone check on the status of their payments, the IRS is building a second new tool expected to be available for use by April 17. Get My Payment will provide people with the status of their payment, including the date their payment is scheduled to
Read more →IRS.gov feature helps people who normally don’t file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information. WASHINGTON – To help millions of people, the Treasury Department and the Internal Revenue Service today launched a new web tool allowing quick
Read more →There have been numerous changes happening with the SBA loans with regards to Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The link below provides the “Interim Final Rule” which announces that Section 1102 of the Act temporarily adds the “Paycheck Protection Program” (PPP) to the
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