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Are You Ready to Apply for PPP Loan Forgiveness?

Are You Ready to Apply for PPP Loan Forgiveness? Ever since the CARES Act was signed into law on March 26, 2020, followed by the enhancements provided by the Paycheck Protection Flexibility Act signed into law on June 5, 2020, there have been a flood of FAQs and...

Accounting for Forgivable Loans

Congress established the Paycheck Protection Program (PPP) to provide relief for small businesses as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES), and there have been a lot of questions and uncertainty around the program.  The AICPA has...

PPP Flexibility Act Signed Into Law

The Paycheck Protection Program Flexibility Act was signed into law on June 5, 2020.  The Act amends the Paycheck Protection Program (PPP) to give businesses an extended period to spend the loan proceeds in addition to other more lenient conditions to qualify for...

PPP Loan Forgiveness Application Update

May 19,2020 The Small Business Administration (SBA) has released the Paycheck Protection Program Loan Forgiveness Application and Instructions. The documents released on May 15, 2020 will help small businesses seek forgiveness at the conclusion of the eight week...

Safe Harbor Deadline for Repayment of PPP Loans Extended to May 14

On May 5, 2020, the U.S. Treasury Department extended the deadline to repay PPP loans from May 7 to May 14 with the addition of FAQ #43.  As advised in our previous communication, please consider your options if you are not confident that you can complete the...