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Meet The Paycheck Protection Flexibility Act Passed By The House

Meet the Paycheck Protection Flexibility Act Passed by the House

PPP forgiveness requirements are changing again. The Paycheck Protection Flexibility Act, passed by the House of Representatives yesterday, extends the length of time businesses have to use the PPP loans, to 24 weeks from eight weeks, and pushes back a June 30 deadline to rehire workers.

It also reduces the share of funding that must be directed toward payroll costs to 60% from 75%.

And now onto the Senate vote.

Learn more from the Journal of Accountancy here…

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