PPP Loan

Business owners need to make choices on their 2021 taxes regarding the Paycheck Protection Program and the Employee Retention Credit. Both were enacted to help businesses stay in operation during the lockdowns caused by the COVID-19 pandemic. The PPP provided forgivable loans to businesses, and the...

18 March, 2022

With wide bipartisan support, Congress has approved the "PPP Extension Act of 2021," which extends the Payroll Protection Program. It had been scheduled to expire on March 31, but the application deadline is now May 31. The act further gives the SBA another month, until...

26 March, 2021

The pandemic relief package (Consolidated Appropriations Act, 2021) gives a break to small businesses by reopening the Paycheck Protection Program so that some of the hardest-hit small businesses can apply for a second loan.  The new round of loans will be limited to those with fewer...

18 January, 2021

Early recipients can apply either eight or 24 weeks from the day they received funds. Here’s what you should know Many small business owners who were fortunate enough to get a forgivable loan through the Paycheck Protection Program are now asking themselves an important question: Should...

10 August, 2020

There is a “significant risk” of fraud for Paycheck Protection Program loans, the Government Accountability Office (GAO) said June 25, 2020, urging the Small Business Administration to ramp up efforts to respond to such risks. In a report released that day, the government watchdog, which is charged...

22 July, 2020