By Klatzkin Tax Team
On June 17, 2020, the Small Business Administration (SBA) issued a new Paycheck Protection Program loan application guidance. Also, there is now a new short loan forgiveness application Form 3580 EZ designed especially for self-employed and other qualifying borrowers.
In the search for assistance in managing the COVID-19 crisis, many businesses have turned to the Paycheck Protection Program (PPP). Borrowers can receive a low-interest loan and have a portion, or all, of the loan forgiven if proceeds are spent on certain expenses.
By Klatzkin Tax Team
The Paycheck Protection Program (PPP) has been an important lifeline for businesses impacted by the COVID-19 emergency. Many businesses were required to manage expenses while obeying stay-at-home orders and forced business closures. To provide immediate help, the PPP was launched to provide low-interest loans, with favorable terms, to provide the necessary cash infusion.
By KLATZKIN TAX TEAM
The COVID-19 crisis continues to transform the business landscape. The convergence of forced business closures and dwindling demand for services has forced many to make difficult business decisions. For some, this has resulted in the need to layoff or furlough employees while others are carefully analyzing operating expenses.
By FRANK G. SWEENEY and STEPHEN N. KLEIN
The COVID-19 emergency has created a host of new challenges that businesses and employees must endure. For those impacted by the forced business closures and stay at home orders, it has meant finding new ways to deliver products and services while making the tough decisions around expense management and maintaining financial vitality.
There is a continual flow of news regarding the Paycheck Protection Program (PPP) from the Treasury Department (Treasury) and the Small Business Administration (SBA), and last week was a busy one
On April 17, 2020, the Small Business Administration announced the initial round of funding for the Payroll Protection Program (PPP) had been exhausted.
By Klatzkin Tax Team
To support the economy and to provide tax relief to individuals and businesses, The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted on March 27, 2020. The CARES Act makes numerous changes and modifications to the treatment for Net Operating Losses (NOLs) and Excess Business Losses…
By Klatzkin Tax Team
The most recent piece of legislation – the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law by President Trump on March 27, 2020, and provides a substantial temporary revamp of small business loans.
