If business owners have learned anything from dealing with the COVID-19 pandemic these past months, they know that being positioned for quick maneuvers and redirects is absolutely vital. Ensuring that key processes are recorded and supported has become critical not only to managing the business, but also to making adjustments and adapting to changing external conditions. Read more.Read More
Recipients of Coronavirus Relief Fund payments have until Friday, July 17, 2020 to file costs incurred from March 1 through June 30, 2020. Read more.Read More
In the distress of the pandemic, one source of economic aid may not be getting enough attention from small businesses: the Economic Injury Disaster Loan (EIDL). Like a Paycheck Protection Program (PPP) loan, the EIDL is provided by the U.S. Small Business Administration. In an interview, REDW Principal Brian Foltyn provides some quick, essential highlights about EIDLs. Read more.Read More
In their latest in a series of informational webinars on PPP Loans, from application through forgiveness, REDW Tax Principals James Ortiz and Christina Roderick discuss the implications of the new PPP Flexibility Act, and more. Read more.Read More
Paycheck Protection Program recipients choosing to extend their covered period, may apply early for loan forgiveness, but doing so could cost them money. In consultation with the Treasury, the U.S. Small Business Administration addresses various issues related to the PPP in a 34-page interim final rule (IFR) issued Monday night, June 22. Read more.Read More
The U.S. Small Business Administration has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to small businesses and non-profits experiencing economic hardship due to COVID-19. Read more.Read More
In consultation with the Treasury Department, the U.S. Small Business Administration released (June 17) a revised loan forgiveness application for the Paycheck Protection Program. The SBA also unveiled a new EZ application for forgiveness of PPP loans. Read more.Read More
On June 3, Congress approved sweeping changes to the Paycheck Protection Program (PPP), and President Trump is expected to sign it into law—the PPP Flexibility Act. This new legislation triples the time allowed for small businesses and other PPP loan recipients to spend funds and still qualify for forgiveness of the loans. Read more.Read More
The U.S. Treasury has announced some critical deadlines for tribal relief under the CARES Act. The application portal for the final $3.2 billion in funds is scheduled to open on May 20; tribal relief applications must be submitted by May 26. Read more.Read More
The SBA has extended the PPP safe harbor loan repayment deadline to Monday, May 18, 2020. Employers do not need to apply for the extension, but can take the extra time if they need it. Read more.Read More
