Additional guidance on PPP forgiveness released: read it here.
The IRS has concluded no deductions will be allowed for expenses paid with PPP Funds. Members of Congress may overrule this.
Richey May partnered with the Mortgage Bankers Association to provide a live webinar on Friday, April 3, 2020 covering the SBA PPP Program details. The live event was open to member, but you can access the recording here.
The Paycheck Protection Program is designed to help businesses cover payroll and other expenses during the crisis. The final guidelines have not been released yet.
The SBA released Docket SBA-2020-0015 with the Interim Final Rule to implement sections 1102 and 1106 of the CARES Act, aka the Paycheck Protection Program (PPP). You can read the full text here.