On June 5, 2020, the president signed into law the Paycheck Protection Program Flexibility Act after it passed the Senate with a unanimous vote. The bill drafted by the House extends certain provisions of the Paycheck Protection Program (PPP) to provide small businesses with relief in the timeframe and use of their PPP loan funds. […]
On May 28, 2020, in a nearly unanimous vote, the U.S. House of Representatives voted to extend certain provisions of the Paycheck Protection Program (PPP) to provide small businesses with relief in the timeframe and use of their PPP loan funds. While President Trump has encouraged changes to PPP, and the Senate had been developing […]
On May 23, the Small Business Administration (SBA) issued an interim final rule for the Paycheck Protection Program (PPP) that included the loan forgiveness application guidance released May 15, as well as other updated guidance. The rule, Paycheck Protection Program – Requirements – Loan Forgiveness, is the formal guidance that accompanies the forgiveness application and […]
The Small Business Administration (SBA) has released its long-awaited Paycheck Protection Program (PPP) forgiveness form for borrowers. The release on May 15 brought with it significant changes to the interpretation of some components of forgiveness that were not previously known. Clarity is still needed on many of the components of forgiveness. Changes were made to […]
The COVID-19 pandemic has thrown a wrench into many employer-sponsored health, flexible health, and dependent care plans as employees are seeing increased or decreased need, depending on the impact of the pandemic on their families. In response, the IRS is granting employees the ability to make midyear changes to some employer-sponsored health coverage, health flexible […]