UPDATE: PPP Forms Made Available
Late Friday, the SBA released forms for the application of the Second Round of Paycheck Protection Program (PPP2).
UPDATE: Second draw PPP Loan Details
Late Yesterday Evening the SBA and Treasury released Interim Final Rules on the second draw Paycheck Protection Program (PPP) loan Program.
UPDATE: The Consolidated Appropriations Act, 2021 SIGNED INTO LAW
President Trump signed The Consolidated Appropriations Act, 2021 into law on Sunday without changes.
UPDATE: The Consolidated Appropriations Act, 2021 PASSES
Late yesterday evening Congress passed a $900 billion Covid-19 Relief bill known as The Consolidated Appropriations Act, 2021. It contains much-anticipated provisions for both individuals and small businesses.
The Consolidated Appropriations Act, 2021
The bill passed by congress late Sunday evening may now not immediately become law. There are several provisions, mainly direct payments, that President Trump has indicated publicly he would like Congress to amend.
UPDATE: Emergency Coronavirus Relief Act of 2020
The latest iteration of a relief bill is expected to pass as soon as this weekend.
UPDATE: $908 Billion Emergency Spending Package
This week, lawmakers are scrambling to take short-term action to get the nation through the holidays. There has been bipartisan support for a $908 billion in emergency spending.
AGC Leads Effort to Address PPP Tax Issues
On Thursday, 564 trade associations led by the Association of General Contractors (AGC) asked Congress to pass legislation reversing a ruling made by the IRS, disallowing the deduction of expenses related to the forgiveness of Paycheck Protection Program Loans (PPP).
Social Security Wage Base Announced for 2021
The maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $142,800 from $137,700.
PPP Forgiveness Application Due date
There has been some confusion as there is a 10/31 expiration date on PPP forgiveness forms. Forgiveness applications are NOT due on Oct 31st.
