by Rupinder | Jan 9, 2021 | Uncategorized
Treasury and the U.S. Small Business Administration (SBA) have issued additional Paycheck Protection Program (PPP) subregulatory guidance and applications. PPP Reopening The PPP is scheduled to reopen the week of January 11. Accordingly, Treasury and the SBA on the...
by Rupinder | Jan 8, 2021 | Uncategorized
The U.S. Small Business Administration (SBA) is no longer deducting Economic Injury Disaster Loan (EIDL) Advances from Paycheck Protection Program (PPP) loan forgiveness payments remitted by the SBA to PPP lenders. In a January 8 Procedural Notice issued to SBA...
by Rupinder | Jan 8, 2021 | Uncategorized
NEWS RELEASE SBA and Treasury Announce PPP Re-Opening; Issue New Guidance WASHINGTON – The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of...
by Rupinder | Jan 7, 2021 | Uncategorized
Treasury and the U.S. Small Business Administration (SBA) released late in the evening of January 6 guidance on Paycheck Protection Program (PPP) First and Second Draw Loans. The guidance, released as two interim final rules (IFR), which go straight to the Federal...
by Rupinder | Jan 6, 2021 | Uncategorized
Treasury and the IRS released guidance on January 6 implementing the recent legislative change allowing for the deductibility of expenses paid with a Paycheck Protection Program (PPP) loan. The guidance, Rev. Rule. 2021-2, comes in response to the enactment of section...
