PPP Second Draw
Changes to Paycheck Protection Program Second Draw At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the COVID-19…
Great News Regarding PPP Loan Forgiveness!
The CARES Act provides that a recipient of a PPP loan may use the loan proceeds to pay payroll costs, certain employee benefits relating to healthcare, interest on mortgage obligations,…
Loan Forgiveness for the Paycheck Protection Program
The IRS recently released two documents related to PPP loan forgiveness.Revenue Ruling 2020-27: This addresses the deductibility of covered expenses when the loan is expected to be forgiven. Situation 1-During…