The recently approved Paycheck Protection Program Flexibility Act (PPPFA) provides businesses with much-needed flexibility regarding the use of Paycheck Protection Program (PPP) funds and eases the requirements for full loan
IRS Denies Deductions for Expenses Paid by PPP Loans
The IRS has recently confirmed that they will not allow taxpayers to claim tax deductions for expenses that were paid by PPP loans that were forgiven, even for recurring expenses
Good News for Small Businesses as Senate Passes PPP Reform Bill
The U.S. Senate passed the House version of the Paycheck Protection Program Flexibility Act on June 3, 2020, easing restrictions on how small businesses can use their PPP loan funds
SBA Clarifies Good Faith Certification for PPP Loans
On April 23, the Small Business Administration (SBA) issued a warning that businesses with substantial access to liquidity may not qualify for Paycheck Protection Program (PPP) loans. Concerned that their
