PPP Extension to May 31
(authored by RSM US LLP) PPP extension clears Senate. Program to be extended to May 31, with 30 days provided after May 31 for SBA to process pending applications....
25 March, 2021
PPP Tag
Exclusive Access Period Coming to PPP
(authored by RSM US LLP) Biden-Harris administration announces changes to PPP including a 14-day exclusive access period for businesses with fewer than 20 employees....
23 February, 2021
PPP Forgiveness and Expenses: State Tax Implications
(authored by RSM US LLP) States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income....
15 January, 2021
PPP Reopening for First Draw borrowers Jan. 11; Second Draw Jan. 13
(authored by RSM US LLP) Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021....
08 January, 2021
Dec. 2020 Changes to Paycheck Protection Program
Paycheck Protection Program – December 2020 Changes The Consolidated Appropriations Act changes the PPP Loan Program primarily in three ways. First, the Act allows new PPP loan applications to be submitted...
06 January, 2021
New Stimulus Bill and PPP Updates
On Dec. 22, 2020, Congress passed the latest COVID-19 Relief Bill. This is the largest bill ever passed by Congress at over 5,500 pages. It contains over $900 billion of...
22 December, 2020
Congress Passes Appropriations Bill, Containing COVID-19 Relief Bill
(authored by RSM US LLP) Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders....
22 December, 2020
Congress Passes Law Containing PPP Tax Fix; Second-Draw Program
(authored by RSM US LLP) After negotiations go to the 11th hour, Congress passes tax fix for PPP, changes to loan forgiveness and establishes second-draw program....
22 December, 2020
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