by Kelsey Barcomb | Jan 13, 2021
On December 27, 2020, the President signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act of 2020 (the “Economic Aid Act”). In addition to extending the Paycheck Protection Program (“PPP”) for first time and second draw borrowers, the...
by Kelsey Barcomb | Jan 12, 2021
On January 11, 2021, the United States Small Business Administration reopened the Paycheck Protection Program economic stimulus program which began under the CARES Act of 2020. In addition to making additional funds available to first time borrowers and further...
by Kelsey Barcomb | Nov 20, 2020
Late Wednesday, the IRS released new guidance clarifying the tax treatment of certain expenses paid by taxpayers who have received a loan under the Paycheck Protection Program (PPP). This new guidance amplifies a prior IRS notice on this subject that has been the...
by Kelsey Barcomb | Oct 13, 2020
Effective October 8, 2020, the United States Small Business Administration streamlined the forgiveness process for Paycheck Protection Program borrowers with loans of $50,000 or less. The simplified forgiveness application permits these small PPP borrowers to...
by Kelsey Barcomb | Oct 5, 2020
Effective October 2, 2020, the United States Small Business Administration created a path to avoid the SBA pre-approval for change of control transactions involving borrowers under the Paycheck Protection Program. The SBA Procedural Notice lays out a (relatively)...
