Covid-19 Articles

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Senate Passes Paycheck Protection Flexibility Act

June 4th, 2020

On Wednesday night, the Senate voted unanimously in favor of the Paycheck Protection Flexibility Act. This new legislation makes key adjustments to the timeline for spending Paycheck Protection…

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New SBA Guidance Regarding Paycheck Protection Program – Q&A #46

May 13th, 2020

On May 13, the Small Business Administration (SBA) issued additional guidance regarding the Paycheck Protection Program (PPP). They added a highly anticipated new question and answer to their lengthy…

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PPP Loan Updates – Good Faith Certifications and SBA Review Process

May 4th, 2020

Updates continue to be issued by the SBA regarding the Paycheck Protection Program (PPP) loan provisions through the issuance of new Frequently Asked Questions (FAQs). Recent focus has been placed on…

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IRS Releases Notice Regarding Tax Deductions and PPP Loan Funds

May 1st, 2020

On Thursday, April 30, the IRS released Notice 2020-32. The announcement effectively disallows a tax deduction for any expenses that are paid with forgiven Paycheck Protection Program (PPP) loan…

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