PPP loan help in CT

PPP Loan Forgiveness

PPP Direct Forgiveness Portal Created & Why the Loan Questionnaire Was Discontinued

Bailey Scarano Blog, Tax & Money Tips / By

Are you still waiting to hear of your PPP loan was forgiven? You are not alone. PPP Direct Forgiveness Portal The SBA announced that it is launching a streamlined application portal to allow borrowers with PPP loans $150,000 or less through participating lenders to apply for forgiveness directly through the SBA. The new forgiveness platform […]

PPP Direct Forgiveness Portal Created & Why the Loan Questionnaire Was Discontinued Read More »

IRS States that Expenses Paid with PPP Loan Proceeds Are Not Deductible

Bailey Scarano Blog, Tax & Money Tips / By

There has been a lot of confusion and discussion about what is, and is not, deductible when it comes to Paycheck Protection Program (PPP) loan funds. While it was clear that loans that are forgiven would not be considered taxable income, there was still the question of whether expenses paid with a forgiven PPP loan

IRS States that Expenses Paid with PPP Loan Proceeds Are Not Deductible Read More »

New PPP Rule Changes Forgiveness Application Process

Bailey Scarano Blog, Tax & Money Tips / By

One of the lingering questions about the Paycheck Protection Program (PPP) has been what will be required during the forgiveness application process. On October 8, 2020, the SBA released the Interim Final Rule on Additional Revisions to Loan Forgiveness and Loan Review Procedures Interim Final Rules (that’s a mouthful!), which answers some of these questions.  The stated

New PPP Rule Changes Forgiveness Application Process Read More »

Scroll to Top