by Rupinder | Feb 1, 2021 | Uncategorized
Today, the National Society of Accountants (NSA) sent a letter to Treasury Secretary Janet Yellen and IRS Commissioner Charles P. Rettig voicing concerns raised by NSA members regarding the delayed and now shortened 2021 tax filing season. The letter outlines various...
by Rupinder | Jan 30, 2021 | Uncategorized
The U.S. Small Business Administration (SBA), in consultation with Treasury, released late in the evening of January 29 updated Paycheck Protection Program (PPP) Loans Frequently Asked Questions (FAQs). Specifically, the PPP FAQs have been updated with new questions...
by Rupinder | Jan 20, 2021 | Uncategorized
The U.S. Small Business Administration (SBA), in consultation with Treasury, released late in the evening of January 19 a new Paycheck Protection Program (PPP) interim final rule (IFR) and revised loan forgiveness applications. Additionally, the SBA and Treasury...
by Rupinder | Jan 17, 2021 | Uncategorized
The U.S. Small Business Administration (SBA) has released additional Paycheck Protection Program (PPP) guidance regarding forgiveness application resubmissions and excess loan amount errors. PPP Loan Forgiveness Application ResubmissionSBA Procedural Notice, CONTROL...
by Rupinder | Jan 13, 2021 | Uncategorized
SBA Press Release Number 21-07 January 13, 2021 SBA Re-Opening Paycheck Protection Program to Small Lenders on Friday, January 15 and All Lenders on Tuesday, January 19 The U.S. Small Business Administration (SBA), in consultation with the U.S. Treasury Department,...
by Rupinder | Jan 11, 2021 | Uncategorized
The IRS on January 11 sent its Taxpayer First Act Report to Congress – a comprehensive set of recommendations to enhance and reimagine the taxpayer experience and IRS operations. The bipartisan Taxpayer First Act (TFA) (P.L. 116-25), enacted in July 2019, is the most...
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...
