Tax Warrior Chronicles

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here:  #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

From the beginning, the Small Business Administration (SBA) has struggled with making the Paycheck Protection Program (PPP) process easy for borrowers to navigate. One confusing question has been do businesses work through the SBA or through their lender to secure forgiveness? A new portal launched on August 4th by the SBA targets borrowers with loans up to $150,000 and allows them to apply for forgiveness directly

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

On November 18, 2020, the IRS released Revenue Ruling 2020-27, amplifying Notice 2020-32, and simultaneously issued Revenue Procedure 2020-51. Both provide further clarity on deductibility of expenses paid with Payroll Protection Plan (PPP) funds and, not surprisingly, leave us with more unanswered questions.

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

Let us take a break from the election and get back to our favorite (read: most confusing) stimulus, the Paycheck Protection Program (PPP). Over the next week, we will provide various updates that occurred since our last PPP blog update. Today, we will focus on an update from last week that provides insight into how the Small Business Administration (SBA) will review PPP loans of $2 million or more. If your PPP

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

Welcome to the 15^th iteration of what is new with the Paycheck Protection Program. There are no prizes for remembering anything in the first 14, but we hope to provide some clarity on specific issues addressed in the Frequently Asked Questions (FAQs) on PPP Loan Forgiveness (Forgiveness FAQs) issued on August 4. The Forgiveness FAQs are the first piece of significant additional guidance issued since our last

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

Treasury kicked off the holiday weekend on Friday, May 22, by releasing its 14^th Interim Final Rule (IFR) addressing loan forgiveness for the Paycheck Protection Program (PPP) loans.  This new IFR clarified certain issues while leaving others outstanding.  Today’s blog will focus on the clarifications so borrowers, many nearing the end of their 8-week Covered Period, can make decisions around what is known. 

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

Many hoped the delay in guidance regarding Payroll Protection Program (PPP) loan forgiveness meant SBA and Treasury were taking their time coordinating an application and associated guidance to provide borrower’s clarity. Regrettably, on Friday evening, May 15, the SBA released the PPP Forgiveness Application with no additional guidance issued by the Treasury.  While we had a passing thought that maybe the

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

While many await formal guidance about the Paycheck Protection Program (PPP) loan forgiveness, the SBA and Treasury were busy issuing various other guidance this week.  Today, we outline and provide our thoughts about this week’s guidance, including deductibility of expenses paid with PPP funds and PPP eligibility standards.

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: Updates#1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

Our last Paycheck Protection Program (PPP) blog on Thursday, April 16, covered long-awaited guidance for self-employed individuals and partnerships. However, that same day, the SBA announced the PPP ran out of money.  Today, we bring you good news about additional funding and an update on eligibility guidance.

 As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: Updates #1, #2, #3, #4, #5, #6, #7,#8,#9,#10,#11,#12,#13, #14, #15, #16, #17, #18,

#19, #20, #21, #22, #23

For some reason the SBA really likes issuing CARES Act guidance Tuesday evenings around 5:00PM.  This was again the case on Tuesday, April 14^th when it issued its third interim final rule (regulation) related to the Paycheck Protection Program (PPP).  The third interim final rule provides guidance for individuals with self-employment income who file a Form 1040, Schedule C and provides an update specific