By Kathy Davis and Robert Jackson, CPA Thursday, January 14, 2021 On Monday of this week the SBA re-opened first draw PPP applications to Community Financial Institutions (which include Community Development Financial Institutions, Minority Depository Institutions, Certified Development Companies and Microloan Intermediaries) and second draw applications to those same lenders on Wednesday. Beginning tomorrow (Friday, …
By Kathy Davis and Robert Jackson, CPA The SBA has released the application for the Second Draw PPP loan, SBA Form 2483-SD. This second round is intended for those recipients that have experienced a significant decline in revenues in 2020. This round also offers further benefits to those in the restaurant industry, hotels and others …
Second Draw Paycheck Protection Program (PPP) Loans Read More »
November 20, 2020 By Kathy Davis, CPA, and Robert Jackson, CPA | COVID-19 Response Team Late Wednesday, November 18, 2020, the IRS issued Revenue Ruling 2020-27. The IRS is taking the position that expenses paid with Paycheck Protection Program (PPP) loans during the covered period are not deductible if, as of the end of the …
