SBA Provides Rules for Second Draw PPP Loans
Wednesday night, SBA & Treasury released new guidelines for PPP Loans. The guidance is in two interim final rules. The first is the Business Loan Program Temporary Changes; Paycheck Protection Program … Continued
New COVID Relief Bill
A new $900 billion coronavirus relief bill has become law and answers the question of whether federal Emergency Paid Sick Leave (EPSL) and Emergency Family and Medical Leave (EFMLA) will … Continued
FFCRA Leave Extended
On Monday, December 21st, the Senate and House of Representatives passed the Consolidated Appropriations Act, 2021, the second COVID-19 relief bill since the CARES Act in March. Full text of … Continued
Pittsburgh Enacts COVID-19 Paid Sick Leave Ordinance
On December 9th Pittsburgh Mayor Bill Peduto signed a Temporary COVID-19 Emergency Paid Sick Leave Ordinance. This gives certain workers in the city an additional 80 hours of paid sick time … Continued
Simpler PPP Forgiveness for Loans up to $50K
This month The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action … Continued
The SBA issues FAQs Regarding Loan Forgiveness
On Tuesday the Small Business Administration released a sheet of FAQs regarding PPP Loan Forgiveness. The FAQs are very detailed and provide much needed clarification on a host of topics … Continued
Senate Releases COVID-19 Relief Proposal
As always, we’re keeping you abreast of the all the updates coming out of Washington regarding COVID-19 relief and PPP. After much anticipation, the Senate has released its latest effort … Continued
SBA and Department of Treasury Release New Loan Forgiveness Applications
The PPP Flexibility Act (PPPFA) was signed into law by President Trump on January 5, 2020. Today the SBA and Department of Treasury have announced the publication of their 19th Interim … Continued
New PPP Loan Report & Legislative Update
As promised, below you will find instructions for Phase 2 of the PPP Loan Forgiveness Report. Additionally, Trump just signed into law the PPP Flexibility Act of 2020. The full … Continued
House Votes to Loosen Restrictions on PPP Loan Forgiveness
The House voted 417-1 to allow more flexibility for the Paycheck Protection Program loan forgiveness. The Senate is expected to vote on the bill next week. Lawmakers are pushing for … Continued
SBA Clarifies Rules for PPP Loan Forgiveness
The SBA has finally released the detailed PPP Loan Forgiveness Application. You can find the SBA Application here. Below are some clarifications and highlights. Some of the key items clarified include: … Continued
SBA Publishes New Guidance Regarding Certifications of Necessity for PPP Loans
SBA Clarifies Today that Employers with Less Than 2 Million Will be Deemed to have Made a Good Faith Certification for the Necessity of the Loan. The SBA updated its … Continued
Employee Retention Tax Credit FAQs
If you’re considering the Employee Retention Tax Credits under the CARES Act, we recommend reviewing the newly released FAQS from the IRS. The IRS has released 94 FAQs with calculation examples.
Paycheck Protection Program Loan Forgiveness: What to Know
While the SBA has issued their official guidance, there are still plenty of questions looming. Here are a few things to know about the Paycheck Protection Program loan forgiveness.