Late Friday, the SBA released forms for the application of the Second Round of Paycheck Protection Program (PPP2).
\ Select Community Financial Institutions will begin accepting some applications as soon as Monday, the 11th of January.
When other applications will be accepted will depend on the institution.
Please reach out for assistance with this process.
The IRS has said that it will take steps this spring and summer to automatically correct returns that were filed prior to the American Rescue Plan Act form.
We have noted that in some 2nd round Paycheck Protection Program (PPP2) applications for partnerships filers, are needing to be updated due to the self-employment calculation for the partners amount to be used in the payroll calculation.
When submitting a PPP application, all borrowers must certify in good faith that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”
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Brookfield, Wisconsin 53005
