Small Business Administration - Paycheck Protection Program
- On March 27 2020, The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law with the purpose to provide fast and direct economic assistance for American workers and families, and small businesses. Part of the $2 trillion economic relief package included the Small Business Paycheck Protection Program.
With the amount and frequency of information released, The Georgia Society of CPAs has created a page dedicated to monitoring any PPP news or documents released. GSCPA will be communicating updates as they become available. Please follow GSCPA’s social media channels for alerts on the latest breaking news.
SBA's PPP Essential Documents and Forms
SBA's PPP Essential Resources and Guidance
- Updated FAQ for Lenders and Borrowers
- How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documents to Provide-SBA Guidance
- First Draw Paycheck Protection Program Loan Increases After Enactment of the Economic Aid Act-SBA Guidance
- PPP Interim Final Rule - Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act
- SBA Guidance on Accessing Capital for Minority, Underserved, Veteran and Women-Owned Business Concerns
- PPP Loan Forgiveness Rules and Regulations
- PPP Borrowers Disclosure of Certain Controlling Interest
- AICPA PPP Loan Amount Calculator
- The Three Step Process: Disaster Loans
- Coronavirus Emergency Loans Business Guide and Checklist
SBA: Paycheck Protection Program News
SBA Officially Drops PPP Loan Necessity Questionnaire Requirement
Source: Journal of Accountancy
House Passes PPP Loan Forgiveness Bill, Treasury Issues Harsh Forgiveness Regulations -- What You Need To Know
Source: forbes 5/31/21
PPP Extended to May 31
source: gscpa.org 3/31/21
PPP Quiz: 5 Frequently Asked Questions
Source: journalofaccountancy 3/25/21
Senate Passes PPP Deadline Extension
Source: journalofaccountancy 3/25/21
SBA Eyes Early April to Begin Restaurant Revitalization Fund Rollout
Source: journalofaccountancy 3/24/21Source: journalofaccountancy.com 3/3/21
IRS Provides Guidance for Employers Claiming the Employee Retention Credit for 2020 Including Eligibility Rules for PPP Borrowers
Source: gscpa.org 3/1/21
New PPP Changes Attempt To Ease Small Businesses' Access
Source: journalofaccountancy 2/22/21
SBA Announces PPP Process Changes
Source: journalofaccountancy 2/10/21
PPP Guidance Calculations Guidance Released
Updated PPP Loan Forgiveness Applications and Rules Unveiled
Source: journalofaccountancy 1/20/21
Guidance Issued for PPP First-Draw Loan Increases, Reapplications
Source: journalofaccountancy 1/14/21
PPP Re-Opens to First Time Borrowers Today; Second Draw Applications Accepted on Jan. 13
Source: gscpa.org 1/12/21
SBA Extends Application Deadline for COVID-19 Economic Injury Disaster Loan Program
Update on PPP Deductibility
Source: gscpa.org 12/22/20
COVID Economic Aid Relief Package Agreed On Dec. 20
GSCPA on PPP Pre-Guidance
Trade Groups Push Lawmakers for Deductibility of PPP Loan Business Expenses
PPP Forgiveness and Your Clients
Source: cpapracticeadvisor 11/28/20
AICPA Urges SBA and OMB to Reconsider PPP Loan Necessity Questionnaires
Source: journalofaccountancy 11/25/20
AICPA Mobilizes Members to Push for Deductibility of PPP-Funded Expenses
Source: journalofaccountancy 11/23/20
IRS Doubles Down On Nondeducibility Of PPP-Funded Expenses
Source: journalofaccountancy 11/19/20
SBA To Require PPP Loan Necessity Form From Large Borrowers
Source: journalofaccountancy 11/9/20
SBA Clarifies Deferral Period for PPP Loan Payments
Source: journalofaccountancy 10/7/20
SBA Procedural Notice on PPP Loans and Changes of Ownership
PPP Loan Forgiveness: What CPAs Should Be Doing Now
Source: journalofaccountancy.org 9/23/20
SBA Releases New PPP FAQ
Source: sba.org 8/4/20
The PPP Loan Forgiveness Process Just Got Easier
New AICPA Tool Automates PPP Loan Forgiveness Process
Source: journalofaccountancy 7/20/20
PPP Forgiveness Promises 'A Busy Fall' For Accountants
Source: accountingtoday 7/10/20
Mnuchin: Any PPP Extension Would Be 'More Targeted'
Paycheck Protection Program Extended to August 8
Source: cpapracticeadvisor 7/6/20
Trump Signs 5-Week PPP Extension
Source: journalofaccountancy 7/1/20
Senate Approves Extending Small Business Program
Source: newyorktimes 6/30/20
Small Business Owners With Criminal Past Can Now Apply for PPP Loans, SBA Says
Source: foxbusiness 6/25/20
SBA Issues New PPP Loan Guidance: What You Need To Know and FAQs
PPP Recipients Can Apply Early For Loan Forgiveness, SBA Says
Source: journal of accountancy 6/23/20
US Dept of Treasury and SBA Release Revisions to First Interim Final Rule on PPP
Source: U.S. Treasury 6/11/2020
Trump Signs Bill Changing Paycheck Protection Program into Law
Source: Marketwatch.com 6/5/20
PPP Forgiveness Changes Coming as Senate Passes House Bill
Source: Journal of Accountancy 6/4/20
SBA Releases Paycheck Protection Program Report
Source: treasury.gov 5/30/2020
SBA Releases Business Loan Program Temporary Changes; Paycheck Protection Program - Requirements - Loan Forgiveness
Source: treasury.gov 5/23/20
SBA Releases Business Loan Program Temporary Changes; Paycheck Protection Program - SBA Loan Review Procedures and related Borrower and Lender Responsibilities
source: gscpa.org 5/23/20
SBA Releases Interim Rule on Loan Forgiveness for PPP Released
Source: gscpa.org 5/23/20
Interim Final Rule on Treatment with Entities with Foreign Affiliates
Source: treasury.gov 5/18/2020
Interim Final Rule on Eligibility of Certain Electric Cooperatives
SBA: Interim Final Rule on Loan Increases
Source: treasury.gov 5/13/20
Paycheck Protection Program Loans
Source: treasury.gov 5/3/20
SBA to Make Economic Injury Disaster Loans Available to U.S. Agricultural Business Impacted by COVID-19 Pandemic
Source: sba.gov 5/5/20
IRS Notice 2020-32 on Expense Deductions the PPP Loan
SBA Releases Paycheck Protection Program Report
Source: treasury.gov 4/16/2020
More Information On SBA Loans
Source: gscpa.org 4/3/2020
U.S. Department of Labor releases Q and A on Families First Coronavirus Response Act
First Guidance Released by DOL on Families First Act
IRS Releases Filing and Payment Deadlines Questions and Answers
Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave
Source: gscpa.org 3/20/20
On Wednesday, March 18, 2020, the President signed into law: H.R. 6201, the "Families First Coronavirus Response Act."
Source: The Desk of the White House 3/19/20