The House of Representatives passed their new legislation concerning the PPP loan program. The name of this bill is Paycheck Protection Program Flexibility Act of 2020. Here is an overview of the changes to the PPP program that is in the Bill: Remember this is only on one side of Congress. It still needs to…
I just got off our weekly Federal Affairs Committee for NAPEO, our National Association for PEOs. Here is the latest info. Last week the House put a bill on the floor regarding PPP loan forgiveness, and it is being argued today with a vote hopefully coming tomorrow. As of this morning, here is what was…
Seems like the government likes to issue information on Friday afternoons, especially before a 3-day weekend. I sent out a copy of the documentation released by the SBA for both employers and bankers over the weekend. Here’s a link to it again, if you want to read the whole thing. It includes some FAQs regarding…
The SBA released a new document late last night with more clarifications on the PPP loan forgiveness guidelines. They also included some guidance for banks to follow in their procedures for reviewing forgiveness applications. We wanted to get this out ASAP in case you are working on your PPP loan forgiveness application over the holiday…
Normally, I only enclose articles and attach them as PDFs; however, today I’m sharing a forgiveness calculator in the form of an Excel spreadsheet. This AICPA spreadsheet is updated as the rules change, and you can go to their website to get the latest version. This version is as of yesterday. It’s very well done…
Today we have some new releases from the CDC, IRS, and the DOL. It looks like everyone is getting back to work! The information shared yesterday about Congress looking to make changes to the PPP forgiveness parameters looks to be gaining strength in both parties. Don’t look for anything new on this until after June…
I’ve attended several more webinars this week about forgiveness of the PPP loans. Unfortunately, everyone has the same talking points with no answers to specific questions. If you are in the middle of your forgiveness application, don’t push the Submit button just yet. Changes are coming. In our weekly NAPEO Federal Government Affairs Committee meeting…
We’ve been doing a ton of research into PPP Forgiveness to help provide you with appropriate guidance. We’ve included a couple of articles, each containing different talking points around the forgiveness equation. These are well-written articles and give great advice; however, there are still many unanswered questions. One of the interesting items about the PPP…
Well, I am sure you have seen the updated PPP loan forgiveness information released by the SBA this past Friday. If not, you can access it here. You’re going to also want to check out this summary of the PPP loan which outlines costs eligible for forgiveness, as well as a host of other things….
Today, we received new guidelines from the State of Louisiana as well as FEMA to help you work through your reopening process. There are other return-to-work items that I thought worth sharing. Today’s downloads: CDC Guidelines for Reopening Workplaces – a set of checklists to help leaders of businesses, schools, child care programs, mass transit,…
