SBA Opens PPP Loan Forgiveness Application Portal August 10
The Small Business Association (SBA) will accepting PPP loan forgiveness applications submitted by lenders on its portal beginning August 10, 2020. The portal’s opening date is subject to extension if Congress makes changes to the loan forgiveness process, and current legislation is being considered for automatic forgiveness of PPP loans
When Should I Apply for PPP Loan Forgiveness?
Get Ready, But Be Patient “When should I apply for PPP loan forgiveness?” That’s a question many anxious borrowers are asking themselves, and wondering if now is the right time, or if they’d be better off waiting. In this particular instance, the age-old saying of “hurry up and wait” may
2020 Compliance Requirements for Federal Funding: What we Know Now
Along with many other personal and professional disruptions this year, COVID-19 is impacting the regulatory environment for organizations with funding covered by the Office of Management and Budget’s (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly called “Uniform Guidance”), and potentially subject to a single
COVID-19: The Impact on Transportation and Logistics
The “new normal.” No one knows exactly what this will look like, and the economic outlook for the week, month, and year ahead change daily. The impacts of the coronavirus pandemic are being absorbed in every corner of the economy, and the supply chain is no exception. Significant declines in
Leave-Sharing: Support for Employees in Crisis Time
IRS Ruling Creates Potential Win-Win for Employees Many companies have established leave-sharing plans, which allow employees to donate accrued leave time for use by others in the company. In general, the employee who donates the time will report that paid time off (PTO) as taxable compensation on their W-2. However,
PPP Guidance Released June 22: Apply for Loan Forgiveness Early
PPP loan recipients can apply for loan forgiveness before their 24-week covered period ends, according to the Small Business Administration (SBA) and US Treasury Interim Final guidance issued Monday, June 22, 2020. This guidance follows the Paycheck Protection Program (PPP) Flexibility Act (Flexibility Act) of 2020 which was signed into