On August 19, 2022, The IRS Office of Chief Counsel released a memorandum saying that when a taxpayer’s loan is forgiven based upon misrepresentations or omissions, the taxpayer is ineligible to exclude...
SBA Release Number 21-58 New portal will streamline applications for loans $150K or less The U.S. Small Business Administration (SBA) is launching a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans...
Paycheck Protection Program – December 2020 Changes The Consolidated Appropriations Act changes the PPP Loan Program primarily in three ways.First, the Act allows new PPP loan applications to be submitted...
On Dec. 22, 2020, Congress passed the latest COVID-19 Relief Bill. This is the largest bill ever passed by Congress at over 5,500 pages. It contains over $900 billion of...
October 5, 2020 - The SBA’s PPP loan was likely a lifesaver to your business, and the next step is to apply for loan forgiveness with the bank that processed...