Deductibility of PPP Loan Expenses
IRS Guidance on Deductibility of PPP Loan Expenses The IRS recently issued Revenue Ruling 2020-27 that states that expenses paid using PPP funds are not deductible in 2020 if there is...
23 November, 2020
PPP Forgiveness Tag
SBA Publishes Loan Necessity Questionnaire for PPP Borrowers
(authored by RSM US LLP) Borrowers (and affiliates) that have PPP Loans of $2 million or greater should be prepared to provide additional information to SBA....
02 November, 2020
Fraud Considerations in the Paycheck Protection Program
(authored by RSM US LLP) Given the lack of due diligence executed for each PPP application, it’s likely there will be a number of violations uncovered in the future....
21 October, 2020
Simpler PPP Forgiveness for Loans of $50,000 or Less
On October 8, 2020, The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or...
12 October, 2020
Oct PPP Loan Forgiveness Update
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...
05 October, 2020
SBA Guidance for PPP Loans in M&A Transactions
(authored by RSM US LLP) SBA procedural guidance provides answers on how to navigate PPP loan changes in ownership; deals can now move forward with certainty....
05 October, 2020
New PPP Guidance and Lender Forgiveness Portal
Authored by RSM US LLP SBA releases additional PPP guidance/opens lender forgiveness portal. On Aug. 10, 2020 the Small Business Administration (SBA) Paycheck Protection Program (PPP) Forgiveness Platform went live. This...
17 August, 2020
- 1
- 2