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Latest PPP FAQ document provides clarity on some aspects of forgiveness

The Small Business Administration (SBA) and Treasury released an updated Paycheck Protection Program (PPP) FAQ on Aug. 4 in an effort to address PPP loan forgiveness issues that have arisen as borrowers begin to complete their applications. The 23 FAQs address various aspects of PPP forgiveness including general loan forgiveness, payroll costs, non-payroll costs, and loan forgiveness reductions. […]

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Don’t go it alone: The role of CPAs during times of economic crisis

Economic downturns are an almost inevitable reality for nearly every business owner. Decisions made far away from your community, catastrophic and unpredictable weather events, and even global pandemics as we’ve seen this year can disrupt the health and viability of a business. During these challenging times, business owners have to make difficult decisions about the future of […]

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PPP gets 5-week extension

On July 4, President Trump signed a five-week extension to the Paycheck Protection Program (PPP) after unanimous agreement from the Senate and U.S. House of Representatives in an effort to continue providing relief for small businesses hit hard by the pandemic. Applications officially closed for the program on June 30 when the Senate voted for […]

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Vermont Economic Recovery Grant applications open July 6

The Economic Recovery Grants application process will open on Monday, July 6. Signed into law on June 19, 2020, Act 115 creates emergency economic recovery grants for Vermont businesses and nonprofits that have suffered severe financial hardship resulting from the COVID-19 pandemic. Applications will be assessed on a first-come, first-served basis; therefore, it is paramount […]

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SBA issues update first PPP interim final rule following PPP Flexibility Act

On June 10, 2020, the Small Business Administration (SBA) issued an updated interim final rule for the Paycheck Protection Program (PPP) in response to the PPP Flexibility Act passed on June 5, 2020. The updated guidance accounts for revisions made to the covered period, usage of funds changes, extended safe harbors, and more. Here is […]

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