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Creating Cash Flow – PPP Loan Recipients Now Have More Time to Defer Payroll Tax Deposits

On June 5, 2020 President Trump signed the Paycheck Protection Program Flexibility Act (PPPF). This highly anticipated guidance provided businesses…

Karen ArtasanchezJune 10, 2020

COVID-19

5 Observations from the PPP Final Interim Rule on Loan Forgiveness

The Small Business Administration (SBA) has finally issued the long-awaited guidance on Paycheck Protection Program (PPP) loan forgiveness. This follows…

Len NittiMay 28, 2020

COVID-19 Individual Tax

The SBA Issues Guidance to Allow for Additional Disbursements for Certain PPP Loans

The SBA issued guidance on April 14th regarding how a partner’s compensation should be calculated for PPP loans. Prior to…

Len NittiMay 14, 2020

COVID-19

SBA Issues New Guidance on When a PPP Loan is “Necessary”

With the issuance of Frequently Asked Questions 31 and 37 a couple of weeks ago by the Small Business Administration…

Len NittiMay 13, 2020

COVID-19

PPP Loans: Allowable Use of Proceeds vs Forgivable Amounts

The CARES Act created a new forgivable loan program called the Paycheck Protection Program (PPP) to provide businesses with funding…

Len NittiMay 4, 2020

COVID-19

SBA Issues Additional Guidance for PPP Eligibility

Amidst negative publicity from the media regarding publicly traded and other large companies receiving Paycheck Protection Program loans (PPP) and…

Len NittiApril 27, 2020

Business Tax COVID-19

Payroll Tax Deferral and PPP Loan Forgiveness – Can I Have Both?

The recently passed CARES Act contained a provision allowing employers to defer the payment of the employer’s share of Social…

Karen ArtasanchezApril 24, 2020

COVID-19

Senate Approves Additional PPP and EIDL Funding

On Tuesday, April 21st the Senate passed the Paycheck Protection Program and Health Care Enhancement Act (“PPP & HCE Act”).…

Dan FiorentinoApril 22, 2020

COVID-19

Partners’ Self-Employment Income Now Qualifies as “Payroll Costs” for PPP Loans

The Small Business Administration issued additional guidance on April 14th, titled Interim Final Rule – Additional Eligibility Criteria and Requirements…

Len NittiApril 15, 2020

COVID-19 Individual Tax

Paycheck Protection Program Flexibility Act of 2020

The House of Representatives’ highly anticipated bill, the “Paycheck Protection Program Flexibility Act of 2020,” was passed by the Senate…

Dan FiorentinoJune 4, 2020