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...
by Rupinder | Jan 4, 2021 | Uncategorized
The U.S. Small Business Administration (SBA) has released a revised Paycheck Protection Program (PPP) Loan Forgiveness Application Form 3508S that has been updated with a new expiration date. The previously simplified SBA form, which is applicable for PPP loans of...
by Rupinder | Dec 31, 2020 | Uncategorized
The U.S. Small Administration (SBA) is seeking additional public comments on certain Paycheck Protection Program (PPP) information collection forms. The SBA’s unpublished notice announcing the next public comment period is scheduled to be published in the...
