Congress Approves Extension to Apply for PPP Funds

On Wednesday, July 1, the House passed Senate Bill S.4416 by unanimous consent.  The bill, which extends the timeline to apply for PPP funds through August 8, 2020, is headed to the President’s desk for signature.

2020-07-02T11:32:14-04:00July 2, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , |

New PPP Loan Forgiveness Applications Released

On Tuesday, June 16th,  Treasury and the SBA released updated PPP loan forgiveness applications, including an alternative EZ application that is designed to simplify the process for those who meet certain criteria.

2020-06-19T17:19:27-04:00June 18, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , , |

PPP Flexibility Act Payroll Guidance

The SBA recently released guidance on two major issues in the PPP Flexibility Act. The first addresses the PPP Flexibility Act's adoption of a 24-week covered period, in lieu of an 8-week covered period, regarding payroll.

2020-06-17T14:20:11-04:00June 17, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , , |

Didn’t Receive a PPP Loan? Employee Retention Credit and Other CARES Benefits Available

If your business didn’t qualify for or secure a PPP loan, there are several other tax benefits provided by the CARES Act.  Here we’re going to take a closer look at some of the most advantageous programs available.

2020-05-27T12:19:37-04:00May 26, 2020|Categories: COVID-19 Business Resources, PBMares COVID-19 Insights|Tags: , , |

PPP Loan Forgiveness Application Released: What Do Business Owners Need to Know?

On Friday evening, May 15, the SBA released the much-anticipated PPP Forgiveness Application.  Though we still await a new Interim Final Ruling relating to forgiveness, the application provides answers to some of our most frequent questions.

Paycheck Protection Program FAQs

The historic $2.2 Trillion CARES Act was signed into law late-afternoon on Friday, March 27.  Just one week later, on Friday, April 3, banks began accepting Paycheck Protection Program (“PPP”) applications for businesses with employees.

2020-05-05T15:16:45-04:00May 5, 2020|Categories: COVID Federal & State Updates, PBMares COVID-19 Insights|Tags: |

Still Hoping for PPP or EIDL Funds? There May Be More on the Way!

On Tuesday, April 21, the Paycheck Protection Program and Health Care Enhancement Act was announced. This legislation is aimed at providing a new round of funding to small-business measures, which had appropriations lapse last week.

Lapsed Appropriations for Paycheck Protection Program Loans

On Thursday, April 16, the Small Business Association stopped accepting new applications for the Paycheck Protection Program due to a lapse in appropriated funds.