COVID Relief Assistance
Tax Implications of PPP Funds Finally Align with Congressional Intent
On December 20, 2020, Congress agreed to terms of the Emergency COVID Relief Act of 2020 (the Act). The Act,…
The Top 10 PPP changes in the pending Bipartisan Emergency COVID Relief Act of 2020
This week, details on the Emergency Coronavirus Relief Act were released and the proposed legislation includes significant updates to the…
Webinar: Tax Implications of PPP Loans
The CARES Act stated that forgiveness of a Paycheck Protection Program (PPP) loan would be considered tax-exempt income, but it…
The Top 10 PPP changes in the Bipartisan Emergency COVID Relief Act of 2020
On December 21, 2020, Congress passed the Emergency Coronavirus Relief Act (the Act), a component of the Consolidated Appropriations Act,…
What You Need to Know About PPP Economic Uncertainty Certification
On December 9, 2020, the Small Business Administration (SBA) released Paycheck Protection (PPP) Loan FAQ 53 which answers the question “Why are some PPP borrowers receiving a Loan Necessity Questionnaire?” As we previously…
PPP Loan Necessity Questionnaire and More Documentation Requirements
For many borrowers of Paycheck Protection Program (PPP) loans, the loan necessity questionnaires – Form 3509 (used by for-profit entities) and Form 3510 (used by…
SBA Releases Details of PPP Loan Borrowers
On December 1, 2020, per order from U.S. District Judge James Boasberg, the Small Business Administration (SBA) released the names,…
CARES Act Enhances Ability to Claim Charitable Deductions for Donated Food Inventory
With the Coronavirus Aid, Relief, and Economic Security (CARES) Act being signed into law on March 27, 2020, Congress added…
Liquidity Assessment Clarification in New PPP Forms
In this 2 Minute Business Activity Assessment video, Tommy Lee dishes some wisdom re: the Q2 2019 v Q2 2020…
“Economic Uncertainty?” PPP Loan Forgiveness Requirements Contextualized
This 4 minute, 30-second video clip from a recent PPP webinar, features Aprio PPP experts Justin Elanjian and Tommy Lee….