Stimulus News Update Ppp

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Stimulus news update ppp. Congress has approved the latest round of stimulus to help american businesses and individuals. Scott stringer wants more covid stimulus funding to go to nyc businesses next round of ppp begins amid covid 19 surge feds seize 8 4 million from florida ministry in ppp fraud case. The ppp is just a piece of the larger stimulus bill.

Ppp and stimulus update consolidated appropriations act 2021 part 2 as noted in our prior update the u s. You can read my summary of the stimulus bill here. But noted reuters news service businesses will be able to use ppp funds over eight to 24 weeks.

The following summarizes the paycheck protection program ppp 2 provisions of the new stimulus law. Stimulus checks for those. The small business administration sba has 10 days to issue guidance on the application process.

December 29 2020 the consolidated appropriations act of 2021 has been signed into law by the president. The good news for most ppp borrowers is that the proposed bill allows for the deduction of these expenses and for loan forgiveness to not be included in income. Congress passed 284 billion for another round of paycheck protection program loans.

Changes made to the economic stimulus paycheck protection program loans could make it easier to commit fraud. Congress at last passed a second stimulus bill this week as of this writing it is still awaiting president trump s signature and it includes a second round of ppp loans for affected small. Full coverage and live updates on the coronavirus.

Please be sure to check back for updates.