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AICPA asks Congress for deadline extension on PPP loans

The American Institute of CPAs has requested an extension of at least 60 days from Congress on the March 31 deadline for submitting applications for Paycheck Protection Program loans.

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In the blogs: Into the weeds

CP21Cs and long memories; all smiles; Romney’s proposal; and other highlights from our favorite tax bloggers.

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PPP loans covered less than a month of small biz expenses

As a fresh round of federal relief loans is getting distributed to U.S. small firms hit by a pandemic crisis that will soon stretch to a year, new research shows that last year’s tranches of the Paycheck Protection Program covered ...

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Rural states get larger share of latest PPP loans

Small businesses in Nebraska, Oklahoma and other rural states have been the most successful at getting federal pandemic relief in the $284 billion round of aid that opened this month, buoyed by a new rule that authorizes loans to many ...

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IRS offers option when PPP loan forgiveness is denied

Businesses who didn’t receive forgiveness on their Paycheck Protection Program loans can now claim a tax credit instead, thanks to a provision in last month’s coronavirus stimulus package.

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SBA releases streamlined PPP forgiveness forms

The U.S. Small Business Administration released a one-page form aimed at simplifying the process of applying for forgiveness of Paycheck Protection Program loans, along with newly revised and updated forms to meet the requirements of the latest stimulus legislation.

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SBA and Treasury reopen Paycheck Protection Program

The U.S. Small Business Administration and the Treasury Department relaunched the Paycheck Protection Program on Monday to new borrowers, prioritizing loans from community lenders.

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