PPP

Did Your Lender Approve Only Partial Forgiveness of Your PPP Loan? You May Be Able to Request an SBA Loan Review

Effective January 27, 2022, the Small Business Administration (SBA) issued Procedural Notice 5000-827666. This new process allows those Paycheck Protection Program (PPP) borrowers who have received partial forgiveness approval by…

IRS Issues New Guidance on PPP Basis Adjustments

When the Consolidated Appropriations Act was passed in December of 2020, taxpayers across the nation were relieved to learn that not only would the forgiveness of Payroll Protection Program (PPP)…

Tax Planning: Don’t Forget About the CAA

Remember the Consolidated Appropriations Act (CAA)? It was signed into law on December 27, 2020, providing relief to individuals and businesses affected by the COVID-19 pandemic. In addition to reducing…

PPP Loan Application Window Extended to May 31, 2021

President Biden has signed the Paycheck Protection Program Extension Act of 2021, which extends the covered period for the PPP. Before the law was passed, the loan application deadline was…

Businesses Provided a Lifeline: CAA Enhances PPP Loans and Extends Employee Retention Credit

The Consolidated Appropriations Act (CAA), passed late last year, provides much needed stimulus and tax relief for businesses hard hit by the COVID-19 pandemic. Two of the provisions that business…

IRS Provides Clarification and Guidance for Employer’s Claiming Employee Retention Credit for 2020

The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTRA) signed into law in December of 2020 retroactively amended the Employee Retention Credit (ERC) to allow eligible employers to…