This morning, Treasury issued additional guidance related to the certification for the need of Paycheck Protection Program (PPP) Loan funds.
PPP Loan Certification & Forgiveness Update
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Covid-19
New PPP Guidance: SBA Releases Additional Information
On May 3, the Small Business Administration (SBA) issued a new round of guidance regarding the Paycheck Protection Program (PPP). They addressed three issues for which business owners have requested clarification.
10 Contractor Questions About COVID-19
As this crisis continues to bring uncertainty to the economic landscape, the construction industry is feeling the impact. To assist contractors during uncertain times, the Smith Schafer Construction Experts are providing a list of the Top 10 Questions we hear in the industry.
IRS Denies Tax Deduction for Forgiven PPP Expenses
On Thursday, April 30, the IRS released Notice 2020-32. It disallows a tax deduction for any expenses paid via a forgiven Paycheck Protection Program (PPP) loan.
CARES Act FAQ: Retirement Plan Withdrawals
On March 27, President Trump enacted the CARES Act. The historic stimulus bill includes an allowance for penalty-free early withdrawals from retirement accounts.
Overview of $484 Billion Coronavirus Relief Package
On Friday, April 24, President Trump signed the Paycheck Protection Program (PPP) and Health Care Enhancement Act into law. The new aid bill is boosting resources for various initiatives in response to the coronavirus pandemic