The Paycheck Protection Program Flexibility Act eases PPP loan forgiveness restrictions. Here are the details of the law, along with some recent guidance for borrowers.
The IRS clarifies the deductibility of PPP-funded expenses
In Notice 2020-32, the IRS has clarified that deductions for income tax purposes aren’t allowed for expenses that are otherwise deductible if the payment of the expense results in forgiveness of a covered loan.
SBA extends the PPP repayment deadline for self-certification
May 14, 2020, is the revised deadline to repay Paycheck Protection Program loans for borrowers who have chosen the Small Business Administration’s “good faith” self-certification of eligibility option.
Congress expands small business COVID-19 relief
The just-passed $484 billion Interim Stimulus Plan, among other things, replenishes Paycheck Protection Program funds.
The IRS announces new COVID-19-related assistance for taxpayers
In the wake of the coronavirus (COVID-19) crisis, the IRS and U.S. Department of Treasury are providing taxpayers additional relief to ease tax burdens.
The Small Business Administration launches the Paycheck Protection Program
Loans are now available for eligible small businesses through the Small Business Administration’s Paycheck Protection Program. Learn more about the loan qualifications and terms here.
COVID-19 stimulus package offers relief to affected individual taxpayers
During these uncertain times, it pays to know what relief is available under the CARES Act for you and your family.
CARES Act provides COVID-19 pandemic relief to businesses
The CARES Act includes several tax-related provisions to help businesses survive the coronavirus (COVID-19) pandemic.
CARES Act will provide billions of dollars of relief to individuals, businesses, state and local governments, and the health care system
Find out how the CARES Act may help you weather the COVID-19 pandemic.