Originally Posted: April 2, 2020
Updated: July 6, 2020
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide economic relief for certain individuals and businesses that have been negatively impacted by the COVID-19 pandemic.
Under the CARES Act, the Paycheck Protection Program has been created to help small businesses and individuals maintain their full-time employees, as well as continue making payments on essential expenses. Below are resources you can find related to the Paycheck Protection Program.
U.S. Small Business Administration, Department of the Treasury & IRS Resources
- Paycheck Protection Program Frequently Asked Questions
- The SBA Paycheck Protection Program Website
- U.S. Department of the Treasury Paycheck Protection Program Website
- IRS Coronavirus Tax Relief
- President Trump Signs Five-Week Extension for Paycheck Protection Program Loan Applications
- Paycheck Protection Program Update: Borrowers Allowed More Time
- Paycheck Protection Program Loan Forgiveness Application & Webinar (includes webinar recording and presentation slide deck)
- Additional Guidance on the Good-Faith Certification for the Paycheck Protection Program
- Webinar Recording & Resources: Paycheck Protection Program Loan Forgiveness Calculation (includes a planning spreadsheet for forgiveness calculation)
- IRS Notice 2020-32: Guidance on Deductibility of Expenses under Paycheck Protection Program
- The Paycheck Protection Program and Health Care Enhancement Act
Disclaimer: This communication is intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.