Paycheck Protection Program

The agency has 90 days to review files and reach decisions.

The U.S. Small Business Administration has posted rules about how businesses who have been turned down for forgiveness of their Paycheck Protection Program loans can appeal the decision.

The extension to Aug. 8 was offered by Sen. Ben Cardin, a Maryland Democrat, and cleared the chamber by unanimous consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.

Tax pros share what they’re telling clients about relief for the jobless during the pandemic.

The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.

The bill, which passed the House last week on a 471-1 vote, now heads to President Trump’s desk for his signature.

The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans.

The SBA’s form clarifies some issues, but still leaves questions to be answered.

The latest version supplements the previously posted rules in order to help borrowers submit their loan forgiveness applications as provided under the CARES Act.

The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses.

The U.S. Small Business Administration, in conjunction with the Treasury Department, released a loan forgiveness application for the SBA’s troubled Paycheck Protection Program, along with detailed instructions for the application.

Given that I must disclose on my Form ADV that we accepted the aid, I had to ask myself difficult questions about possibly over-zealous regulatory scrutiny as well as my firm's reputation, this advisor writes.

The Internal Revenue Service guidance caused some consternation among some small businesses and tax experts.

Little-known provisions include the economic injury disaster loan program, the employee retention credit and even an option to defer some payroll taxes.

There's a great deal of help for businesses in the CARES Act and the FFCRA.

Financial advisors, broker-dealers, custodians and other firms are trying to do their part amid a public health and economic crisis.

Small businesses that manage to get their Paycheck Protection Program loans forgiven may find themselves losing valuable tax breaks, according to new guidance from the Internal Revenue Service.

As soon as the program was announced, I not only advised my small business clients to apply; I also tried to figure out how to take advantage of it myself.

My broker-dealer warned that since it’s a forgivable loan it could be seen as a compromise with creditors.