The US House Passed Updated PPP Loan Forgiveness Rules As reported by the Journal of Accountancy 05/28/20 The U.S. House approved legislation Thursday making it easier for small businesses and other recipients of Paycheck Protection Program (PPP) funding to qualify for forgiveness of the loans. The House bill, called the Paycheck Protection Flexibility Act, H.R. […]

The Small Business Administration and Treasury Department on Friday May 15th released the application for business owners to fill out in order to have their Paycheck Protection Program loans forgiven. The borrower is expected to complete the application and submit it to their lender, who will ultimately be responsible for assessing forgiveness. The process can be completed […]

As of May 6, 2020 PAYCHECK PROTECTION PROGRAM LOANS Frequently Asked Questions (FAQs) The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the Coronavirus Aid, […]

Families First Coronavirus Response Act On March 18 the Families First Coronavirus Response Act, FFCRA was passed to address concerns surrounding  COVID-19.  Included in the measures, to assist both employers and employees during this time are the Emergency Paid Sick Leave Act and the Emergency Family and Medical Leave Expansion Act.  These measures are effective […]

Is your business vulnerable to payroll fraud by your payroll provider? If you are using a payroll service provider that tax impounds you probably are open to the possibility of payroll fraud. Earlier this month a payroll company, MypayrollHR made the news for the unthinkable.  35 million of employee pay and tax deposits suddenly went […]