IRS News COVID Related
The IRS has posted a few news updates this week (August 17, 2020): Pending Check Payments and Payment Notices - COVID Related If a taxpayer mailed a check with or without a tax return, it may be unopened in the…
PPP Forgiveness Application Update
Banks are not accepting the Forgiveness applications yet. There is still some debate in Congress about whether or not PPP loans under a specific threshold ($150,000 was mentioned) might be forgiven outright or with a simple one-page application. The application,…
PPP Application Deadline Is August 8
Small businesses still have until August 8 to apply for potentially forgivable loans via the Paycheck Protection Program (PPP), which was extended from its original June 30 deadline. While a second PPP is under consideration in the Continuing Small Business…
Trump Signs 5-week PPP Extension
President Donald Trump signed a bill Saturday re-opening the application window for the Paycheck Protection Program (PPP) until Aug. 8. The five-week extension had been approved last week by both chambers of Congress. The U.S. House of Representatives and the…
California Requires Face Coverings
On June 18, 2020, the California Department of Public Health announced that statewide, the general public is now required to use cloth face coverings when outside the home, with limited exceptions. https://hrwatchdog.calchamber.com/2020/06/californians-must-wear-face-coverings-outside-their-homes/
PPPFA Has Been Signed Into Law
President Donald Trump has signed into law a bill that gives employers more flexibility when using Paycheck Protection Program (PPP) funds and applying for loan forgiveness. On May 27, 2020, the House passed the Paycheck Protection Program Flexibility Act (PPPFA)…
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…
PPP Loan Forgiveness with Workers on Unemployment
The SBA and Treasury Department rolled out further forgiveness guidance last week in another Interim Final Rule that addresses a burning question entrepreneurs have had for some time: Will I have my PPP forgiveness reduced if a worker I laid…
Santa Barbara County Health Officer Orders Reference
For your reference: Presenting Santa Barbara County's News Publications and Health Officer Orders from the county's Public Health website. In addition, here's a quick link to the face coverings order that began May 26, 2020. https://publichealthsbc.org/recent-publications/ https://publichealthsbc.org/health-officer-orders/
More PPP Interim Final Rules Released May 22
Ch-ch-ch-changes! Two more sets of Interim Final Rules for the Paycheck Protection Program (PPP) were released on Friday, May 22. The rules have continued to change since the launch of the program in April. The process has been an evolution…
