The Small Business Association is making it easier for small businesses to apply for forgiveness of their Paycheck Protection Program loans. Instead of processing forgiveness applications with their lenders, borrowers who received under $150,000 in 2nd draw PPP funds can utilize the SBA’s new portal that officially launches Aug. 4th, 2021…
Online Sign-up Open for Advance Child Tax Credit Payments
If you qualify for the advance child tax credit (CTC) payments, online sign-up is now available through a designated IRS tool. The CTC tool allows taxpayers who are not required to file a 2019 or 2020 individual income tax return to sign up to receive the advance CTC payments. Taxpayers who use the tool can also claim the 2020 recovery rebate credit and the third economic impact payment if you haven’t already done so…
December 2020 Coronavirus Relief Package
New PPP Loan Forgiveness Application as of June 17, 2020
Changes to PPP Loan Forgiveness Requirements
On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020. The Act was the result of roadblocks faced by borrowers as they attempted to comply with the requirements of the program while also navigating a new, challenging business environment and the reality of the “new normal”….