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PPP Loan Forgiveness

PPP Loan Forgiveness

After a lengthy delay, on May 15 the SBA published an application for Paycheck Protection Program (PPP) loan forgiveness. The application, along with the accompanying instructions, provide borrowers with much-needed clarity regarding how much of their PPP loans may be...

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PPP Loan Increases

PPP Loan Increases

On April 14, the SBA announced that a partnership (including an LLC treated as a partnership for tax purposes) may include partners’ self-employment income as eligible compensation on the partnership’s Paycheck Protection Program (PPP) application. Unfortunately, many...

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Clarification for PPP Good-Faith Certification

Clarification for PPP Good-Faith Certification

Today, the SBA provided a safe harbor when it announced that it will deem any borrower to have made a good-faith certification of economic necessity on the borrower’s application for a Paycheck Protection Program (PPP) loan if the borrower received less than $2...

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CARES Act Encourages Charitable Giving

CARES Act Encourages Charitable Giving

The CARES Act includes several changes that encourage charitable giving during the coronavirus (COVID-19) crisis including: churches, educational organizations, hospitals, medical research organizations and food banks. Here's an overview of the tax rules for deducting...

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