This is not a drill! We cover all the recent updates and new information regarding tax deadline shifts – what is included and what is not, the second draw opportunity for the Paycheck Protection Program and the targeted EIDL advance application.
CARES
The SBA pushed out guidance on the new “PPP Second Draw Loans” yesterday. While we still don’t have sight of the application and the “portal” isn’t open for banks to submit loan packages we do have more answers – not all, but more.
This “second-draw” of forgivable loans is aimed at “harder hit” small businesses.
What do liquid lunches, PPP, Unemployment, and Cape Cod Bridges have in common? This bill.
You got/took/accepted an EIDL Loan … (kind of like saying 4C’s college) … So where do you go from here?
The Treasury is calling the shots and taking away everyone’s ability to play timing games with PPP forgiveness.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allows those subject to RMDs in 2020 to essentially skip them… as the Patriots say… “We’re on to 2021”
Ever heard the phrase, “the sooner, the better?” You guessed it! That phrase directly applies to tax planning.
If you haven’t applied, and you have experienced, or foresee the potential for “economic uncertainty” caused by the pandemic for your business you should consider applying.
A summary of the recently signed into law CARES Act—also referred to as the Stimulus Package.
On Friday, March 27th President Trump signed the CARES Act. The 2.2+ trillion-dollar act has within it a host of stimulus and relief provisions to help the country respond and rebound from the economic calamity brought upon by the pandemic.