On Friday the SBA issued its Interim Final Rule (IFR) on Loan Forgiveness for Paycheck Protection Loans. While the IFR largely mirrors the Loan Forgiveness Application Form released the prior Friday, a few additional items of note were included in the IFR.
There are several reasons why a business should have a buy sell agreement. A buy sell agreement governs what happens in certain situations when a company is owned jointly with others.
On May 13, the Small Business Administration (SBA) released new guidance regarding the Paycheck Protection Program (PPP), Business Loan Program Temporary Changes; Paycheck Protection Program – Loan Increases.
On May 15, Treasury released the Paycheck Protection Program Loan Forgiveness Application. This application provides some insight related to questions on loan forgiveness.
Employers can issue tax-free disaster payments to their employees under Section 139 of the Internal Revenue Code. The payments are deductible for the employer, but not included in the income of the employee.
This morning, Treasury issued additional guidance related to the certification for the need of Paycheck Protection Program (PPP) Loan funds.