Accountants + Business Advisors

JUST RELEASED: Interim Final Rule and Application for PPP

4.2.20

JUST RELEASED: Interim Final Rule and Application for PPP

Thursday, April 2, 2020
 
**Note – Guidance given in all COVID-19 government assistance programs was provided with the most current information made available to Apple Growth Partners at the time of response. Clarifications and further guidance is being disseminated from government authorities in an ‘on-going’ matter. All guidance should be reaffirmed prior to the submission of any application and/or program**

Dear Clients:

Below is the interim final rule just published by Treasury, along with the Paycheck Protection Program (PPP) application. 

Please note these critical changes: 

  • PAGE 11 OF PDF (g) iii  Federal employment taxes imposed or withheld between February 15, 2020 and June 30, 2020, including employer’s share of FICA and income taxes required to be withheld, must be subtracted from gross wages
  • Interest rate is 1%

DOWNLOAD: Interim Final Rule
DOWNLOAD: PPP Application
FAQs – Updated with the interim final rules – Corrected FAQ #9 (4/3/20)

Our COVID-19 Response Team is standing by, ready to help your business apply with your Engagement Team. We’re proud to be your partner in navigating these continuous changes. Contact our COVID-19 Response Team with questions – COVID19@applegrowth.com.

Your AGP COVID-19 Response Team





Apple Growth Partners’ published material provides general coverage of its subject area and is presented to the reader for educational purposes based on the most current regulatory information available at the time it was written.  All communications, whether written or oral should be reaffirmed prior to the submission of any application. All information in this published material and on our website is provided in good faith; however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, compliance with any law (federal, state or local) or professional standard or completeness of any information. We  assume no responsibility to any recipient of this material to correct or update its contents for any reason, including changes in any law or professional standard.  It is not intended to be audit, tax, accounting, advisory, consulting or investment advice.  The information in this article is also not a substitute for legal advice and may not be suitable in a particular situation. Consult your attorney for legal advice. 

Our articles, other published materials and website occasionally contain links to other web pages. Links to organizations and government agencies are provided as a convenience to our readers. The firm does not endorse and is not responsible for any third-party content that may be accessed from its website and does not recommend or endorse the use of any third-party’s services. The links are to be accessed at the user’s own risk, and the authors of this website make no representations or warranties about the content of these links.