SBA | Cg Tax, Audit & Advisory

06 Aug

SBA Issues Additional PPP Loan Forgiveness FAQs

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August 6, 2020

The Small Business Administration (SBA), in consultation with the U.S. Treasury Dept., has issued additional FAQs regarding the forgiveness of Paycheck Protection Program (PPP) loans. In general, the new FAQs provide guidance on general...

07 Jul

Federal Tax, SBA

Paycheck Protection Program Loan Application Extension

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July 6, 2020

On July 4, President Trump signed a bill that gives businesses more time to seek federally backed loans. It extends the Paycheck Protection Program (PPP) loan application date to Aug. 8, 2020. The PPP...

08 Jun

SBA

Applications for NJEDA Phase 2 Grant Open Tomorrow

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March 22, 2021

This is a friendly reminder that applications for the New Jersey Economic Development Authority's (NJEDA) expanded Small Business Emergency Assistance Grant Program will be available at 9:00 a.m. on June 9, 2020. The $45...

05 Jun

SBA

PPP Borrowers Get Concessions, Additional Guidance on Forgiveness

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June 5, 2020

The U.S. Senate has passed the bipartisan Paycheck Protection Program Flexibility Act of 2020, which loosens several of the Paycheck Protection Program’s (PPP’s) more onerous restrictions regarding loan forgiveness. President Trump has signed the...

04 Jun

SBA

Senate Passes Changes to the Paycheck Protection Program

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June 4, 2020

The Senate has passed legislation that would give recipients of the Paycheck Protection Program more business flexibility. Here is a summary of the changes: Lower to 60% from 75% the minimum portion of the PPP...

03 Jun

SBA

Applications for NJEDA Phase 2 Grant Open June 9

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July 8, 2022

Applications for the New Jersey Economic Development Authority's (NJEDA) expanded Small Business Emergency Assistance Grant Program will be available at 9:00 a.m. on June 9, 2020. The $45 million program will provide grants up...

02 Jun

Coronavirus Tax Filing & Payment, Federal Tax, SBA

Additional Postponed Deadlines

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June 2, 2020

The IRS has postponed deadlines for time-sensitive actions with respect to certain employment taxes, employee benefit plans, exempt organizations, IRAs, Health Savings Accounts (HSAs) and Coverdell education savings accounts due to the ongoing COVID-19...

01 Jun

Federal Tax, SBA

Paycheck Protection Program Flexibility Act of 2020

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June 1, 2020

The U.S. House has passed, by a vote of 417-1, the Paycheck Protection Program (PPP) Flexibility Act of 2020. The bill would provide more flexibility for participants in the PPP program, including allowing those...

29 May

SBA

New Guidance Regarding Paycheck Protection Program Loan Forgiveness

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May 29, 2020

The Department of the Treasury and the Small Business Administration provided new regulations adding additional guidance to the loan forgiveness process of the Paycheck Protection Program (PPP). Please click here for an article from Wilentz,...

28 May

Federal Tax, SBA

Paycheck Protection Program Interim Final Rules

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May 28, 2020

Interim final rules on calculating loan forgiveness amounts under the Paycheck Protection Program (PPP) have been issued by the Small Business Administration (SBA). They generally mirror the PPP loan forgiveness application instructions the SBA...

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