By Klatzkin Tax Team
When the Paycheck Protection Program (PPP) was launched as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act , it was designed to provide immediate financial relief to companies impacted by forced business closures.
This year has been challenging for New Jersey citizens. When state and local authorities issued stay at home orders and forced businesses to close, the economy ground to a halt. COVID-19 profoundly disturbed our financial systems.
By Klatzkin Tax Team
The Paycheck Protection Program (PPP), set to expire on June 30, 2020, was given new life with the PPP extension signed into law by President Trump over July 4th weekend. The bill provides small businesses trying to survive amid the COVID-19 pandemic until August 8, 2020, to apply for a portion of the approximately $130B remaining in the program.
