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President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
The IRS recently issued three revenue procedures providing guidance with respect to the timing of tax-exempt income from PPP loan forgiveness.
The initiative is only for loans of $150,000 or less, which make up 92% of the PPP loans distributed. The new online portal is reportedly designed to streamline the process both for borrowers and ...
The Herald previously reported on the struggles to obtain forgiveness faced by many small business owners who obtained their PPP loans through Kabbage. Under the rules of the program, the loans ...
The Employee Retention Credit is equal to 50 percent of qualified wages paid to eligible employees between March 13, 2020, and December 31, 2020. [ 14] Eligible employee is defined differently depending on the size of the employer. If the employer averaged 100 or fewer full-time employees [ h] during 2019, then all of its employees are eligible ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [ 1]
The PPP program was created by Congress in March 2020 to help small businesses struggling with COVID-19 closures and disruptions. Under the terms of the program, small businesses could obtain ...
Signed into law by President Donald Trump on April 24, 2020. Paycheck Protection Program and Health Care Enhancement Act ( H.R. 266) is a $484 billion law that increases funding to the Paycheck Protection Program and also provides more funding for hospitals and testing for COVID-19 . The bill passed the Senate by voice vote on April 21, 2020.
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