Search Results for "fica"

Recent guidance from the IRS has created some confusion over the tax-deductibility of expenses paid by a Paycheck Protection Program (“PPP”) loan recipient using PPP funds under the recently-established CARES Act. Although lack of clarity and miscommunication has accompanied much of the rules originating from Washington in response to the

Late on Friday, May 15, the SBA released the application form that Paycheck Protection Program (“PPP”) loan recipients will use to request that their loans be forgiven. Together with its instructions, the PPP forgiveness application form consists of 11 pages, and may be found on the SBA’s and the Treasury’s

On Friday, May 15, New Hampshire Governor Chris Sununu announced the creation of the Main Street Relief Fund, authorizing the allocation and expenditure of $400 million to provide critical financial support to small, for-profit businesses located in New Hampshire that have been impacted by the COVID-19 pandemic. The funds being

Jeff Skaggs was recently quoted in a WG&L Accounting & Compliance article about the FASB clarification on the reporting of fees for originating Small Business Administration (SBA) loans, an issue caused by the recently signed coronavirus stimulus package. The full article can be found here.