Small Business Paycheck Protection Program

Updated March 25, 2021

+ Senate Passes PPP Deadline Extension (3-25-21)

+ New PPP guidance implements changes from American Rescue Plan Act (3-18-21)

+ The Case for PPP Deadline Extension (3-9-21)

+ AICPA calls on SBA to change 'unfair' PPP guidance, deadline (3-5-21)

+ PPP Rules Adjusted for Self-Employed (3-3-21)

+ AICPA Urges PPP Deadline Extension (3-2-21)

+ To Tax or Not to Tax: Should PPP Loans That Are Forgiven Under Federal Law be Subject to the Texas Franchise Tax? (2-25-21)

+ Small Businesses Get Exclusive PPP Access for 2 Weeks (2-23-21)

+ SBA Changes PPP Process (2-10-21)

+ AICPA Raises PPP Concerns (2-4-21)

+ PPP Loans and the Texas Franchise Tax (2-2-21)

+ PPP Advice for Firms: Preach Patience to Clients (2-1-21)

+ Tips for CPAs on Newest Round of PPP (1-21-21)

+ Guidance: PPP Calculations (1-1-21)

+ Guidance: PPP First Draw Loan Increases and Reapplications (1-14-21)

New & Updated PPP Applications (1-9-21)

+ Date Set for Limited PPP Reopening (1-8-21)

+ Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act (1-7-21)

+ Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans (1-7-21)

+ Do PPP Borrowers Face a Surprise State Tax Bomb? (12-29-20)

+ PPP Expense Deductibility & Forgiveness (12-27-20)

+ Many Tax Provisions COVID Relief Bill (12-27-20)

+ COVID-19 Relief Bill Addresses Key PPP Issues (12-22-20)

+ Associations Lobby for PPP Loan Deductibility Fixes (12-3-20)

+ Expenses Used for PPP Loan Forgiveness: Deductible or Not? (12-3-20)

+ IRS Guidance: PPP Expense Deductibility (11-19-20) | Rev. Rule 2020-27

+ Concerns Expressed Over PPP Loan Forms (11-18-20)

+ PPP Loan Necessity Form for Large Borrowers (11-6-20)

+ PPP Forgiveness Deadline Clarified (10-13-20)

+ PPP Forgiveness Simplified for Loans Under $50,000 (10-9-20)

+ SBA Clarifies Deferral Period for PPP Loan Payments (10-7-20)

+ PPP: Change of Ownership Guidance (10-5-20)

+ Who Benefited from the Paycheck Protection Program? Our Texas Analysis Offers an Early Look (9-4-20)

+ Lender Accounting for Forgivable PPP Loans (8-28-20)

+ PPP forgiveness guidance addresses owner-employee compensation, rent-related costs (8-25-20)

+ PPP: Health Insurance & EIDL Info. (7-12-20)

+ Preparing for a Potential Audit of Your Client's Paycheck Protection Program Loan(July/August 2020 Today's CPA)

+ Phishing Attacks Exploit the U.S. Small Business Administration (7-10-20)

+ New PPP Forgiveness FAQs (8-5-20)

+ PPP: Frequently Asked Questions (8-4-20)

+ PPP Forgiveness: No Need to Rush, and Other Tips (7-24-20)

+ SBA Closes EIDL Advance Program after Granting $20 Billion (7-13-20)

+ PPP Loan Application Deadline Extended to Aug 8 (7-4-20)

+ PPP Loan Forgiveness: Status of Notice 2020-32 (7-1-20) | IRS Notice 2020-32

+ PPP: Client Forgiveness Services Q&As for CPAs (6-30-20)

+ PPP Lender Accounting Issues Addressed by New TQAs (6-30-20)

+ New PPP Guidance Addresses Maturity Dates, Loan Amounts (6-27-20)


+ PPP Recipients Can Apply Early for Loan Forgiveness, SBA Says (6-23-20)

+ REVISED RULE: PPP Revision to Third & Sixth Interim Final Rules (6-16-20)

+ Loan Forgiveness Form 3508EZ:  Instructions | Application form (6-16-20) | News summary (6-17-20)

+ REVISED RULE: PPP Revision to First Interim Rule (6-11-20)

New Guidance: Forgivable PPP Loans (6-10-20) | Technical Question and Answer (TQA) 3200.18

Partial PPP Loan Forgiveness Remains if 60% Threshold Not Met (6-8-20)

PPP Forgiveness: Trump Signs Changes into Law (6-5-20)
Watch Facebook Live Broadcast Replay Review & Q&A
See Paycheck Protection Flexibility Act | Comparison DRAFT  (6-4-20)

PPP Loan Forgiveness Guidance: Read Summary | View Guidance (5-26-20)

Revised AICPA PPP Loan Forgiveness Calculator (5-19-20) | AICPA Asks for More Clarity

SBA and Treasury Release PPP Loan Forgiveness Application | Instructions and Application  (5-15-20) | AICPA Urges More Detail (5-16-20)

AICPA Loan Forgiveness Matrix (5-5-20)

AICPA PPP Loan Forgiveness Recommendations (4-29-20)

Funding Directed to Underserved Communities (5-28-20)

SBA Loan Review Procedures and Related Borrower and Lender Responsibilities (5-22-20)

New FAQ 48 - Deadline Extended for SBA Form 1502  (5-19-20)

FAQ No. 47 - Safe Harbor for Repayment Extended to May 18 | AND | Safe Harbor for PPP Loans Under $2 Million (5-13-20)

Guidance: Laid-off Employees Who Refuse to be Rehired (5-4-20)

AICPA Challenges Nondeductibility of PPP-Related Expenses | IRS Notice 2020-32 (5-1-20)

How to Calculate Loan Amounts | Loan Calculation summary
Program basics flyer

AICPA Addresses CPA Firm-Lender Issues Related to PPP (4-24-20)  | AICPA Guidance update - Issues Related to CPA Involvement (4-22-20)

The Department of Treasury has released the Paycheck Protection Program (PPP) application and supplemental information, all available on its website. View more information below:

As a reminder, funds from this program:

  •  Can be used for employee salaries under $100,000, paid sick or medical leave, insurance premiums, and mortgage, rent and utility payments;
  • Are 100% forgivable if used for the above purposes; and
  • Are available to businesses or 501(c)(3) nonprofits with less than 500 employees, including sole-proprietors, independent contractors, and other self-employed individuals.

While the application and documentation requirements are simple, make sure you review all the documents before advising any clients. Additionally, consider your clients’ intentions with other Small Business Administration loan programs when advising them on funding possibilities.