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Top 10 Insights from the SBA’s PPP Loan Forgiveness Application
The National Law Review· 6 days agoOn May 15, 2020, the SBA issued its Paycheck Protection Program (PPP) Loan Forgiveness Application (available here ...
Frequently Asked Questions: Paycheck Protection Program Loan Forgiveness
The National Law Review· 1 day agoTreasury Department released their much anticipated Loan Forgiveness Application and corresponding instructions (Forgiveness ...
PPP Loan Audits Could Affect Millions of Borrowers | JD Supra
JD Supra· 3 days agoThere is growing concern among PPP Loan recipients of potential audits related to the SBA’s Office of Inspector General’s estimate that up to one-third ...
Additional Guidance Issued on PPP Loan Forgiveness, Loan Review Procedures
The National Law Review· 2 days agoThe rule does not provide a time frame within which a business must submit the loan forgiveness application. The rule does clarify that ...
IRS Confirms PPP-Funded Expenses Are Non-Deductible
The National Law Review· 1 day agoLiterally tens of thousands of businesses received Paycheck Protection Program (PPP) loans under the CARES Act. The legislation was passed very quickly to avert a potential ...
SBA Provides Safe Harbor For Certifying Need For PPP Loans
The National Law Review· 3 days agoNew SBA guidance says PPP borrowers of under $2 million are granted safe harbor and deemed to have made required good-faith certification of necessity. Individual circumstances ...
If You File a Schedule C, Take Note: SBA Offers Guidance for Self-Employed PPP Loan Applicants
The National Law Review· 6 days agoThe average PPP loan amount so far has been $239,000, though the vast majority of approved loans (70%) have been for $150,000 or less. Lenders have felt ...
PPP Fraud and Appeals Update
The National Law Review· 6 days agoWhile 2020 is (fortunately) in the rearview mirror, issues involving the pandemic-era Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL) are ( ...
What the Hospitality Industry Should Know About New Regulations and Guidance for the CARES Act
The National Law Review· 5 days ago...May 3, 2020, the SBA issued several new questions and answers to their SBA CARES Act FAQs, including Question #40, which indicated that an employer’s ability to obtain forgiveness of a Paycheck Protection Program (“PPP”) loan under the CARES Act might not be adversely affected as a result of an...
Paycheck Protection Program Rebooted
The National Law Review· 5 days agoThe Small Business Administration and Department of the Treasury have issued two Interim Final Rules (IFR) (First Draw PPP Loan IFR and Second Draw < ...
