COVID-19: Economic Legislation

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Paycheck Protection Program

• Your PPP Loan Has Been Forgiven — Now What? (by GLGA member CliftonLarsonAllen, 11/22/21)
• PPP Loans: Overview of Prior Guidance (by Morrison & Foerster, 10/05/21)
• SBA Issues Final Rule on Appeals Process for PPP Loan Review Decisions (by Morrison & Foerster, 09/22/21)
• PPP Appeals – What You Need to Know (by GLGA member BKD, 08/12/21)
• Safe Harbor May Help Organizations Qualify for Employee Retention Credit (by GLGA member CliftonLarsonAllen, 08/12/21)
• PPP Loan Necessity Questionnaire Retired, Review Prep Still Critical (by GLGA member CliftonLarsonAllen, 07/19/21)
• Revised PPP Loan Forgiveness Applications and Guidance – Update #4 (by JD Supra, 06/01/21)
• 5 Pivotal Business Hygiene Lessons Learned From the PPP (by Inc., 05/12/21)
• A Guide to Applying for PPP Loan Forgiveness (by Forbes, 04/30/21)
• Small Businesses Have 2 More Months to Apply for Forgivable PPP Loans. Here’s What You Need to Know (by CNBC, 03/26/21)
• Changes to PPP Loan Program Give Smallest Businesses a Two-Week Priority Window to Apply (by ABC News, 02/22/21)
• How to Tackle Unresolved First and Second Draw PPP Loan Issues (by GLGA member CliftonLarsonAllen, 02/18/21)
• You Received a PPP Loan That Exceeds the Maximum Allowed — Now What? (by GLGA member CliftonLarsonAllen, 02/15/21)
• PPP Second Draw Loans: How Much Are You Eligible For? It Depends! (by GLGA member CliftonLarsonAllen, 02/02/21)
• Updates on PPP Loan Forgiveness (by GLGA member CliftonLarsonAllen, 01/28/21)
• What You Need to Know about PPP Loan Forgiveness (by GLGA member LB Carlson, 01/25/21)
• Game Changer for SBA PPP $150K Loans — 3508S Forgiveness Application (by GLGA member CliftonLarsonAllen, 01/22/21)
• How to Apply for the Second Round of PPP Loans for Small Businesses (by MarketWatch, 01/11/21)
• Third-Round Paycheck Protection Program (PPP): What Is It and How to Apply (by the National Law Review, 01/04/21)
• The New Stimulus Bill’s Sweeping Changes to the Paycheck Protection Program (by GLGA member Husch Blackwell, 12/29/20)
• Congress Reauthorizes PPP and Provides Some Needed Tax Relief (by GLGA member CliftonLarsonAllen, 12/23/20)
• COVID-19 Relief Bill Addresses Key PPP Issues (ensures tax deductibility for business expenses paid with PPP loan funds) (by Journal of Accountancy, 12/21/20)
• COVID Relief Bill Adds Second Round of PPP Loans Plus the PPP Tax Breaks the Treasury Department Opposed (by CNBC, 12/21/20)
• Unsure Whether You’ll Lose Tax Deductions for a Forgiven PPP Loan? Wait Until 2021 to File for Forgiveness (by JD Supra, 12/10/20)
• SBA PPP Loan Forgiveness Application
• Treasury Disallows 2020 Deduction for Expenses Paid Using Forgivable PPP Loan Funds (by GLGA member CliftonLarsonAllen, 11/20/20)
• Why You Shouldn’t Worry About PPP Loan Forgiveness Yet (by Forbes, 10/27/20)
• Great News for PPP Loans $50,000 or Less (by CliftonLarsonAllen, 10/09/20)
• PPP Loan Audits: What to Expect, and How to Appeal (by JD Supra, 09/16/20)
• Why Third-Quarter Taxes Are Confusing for Small Businesses in the Paycheck Protection Program (by CNBC, 09/12/20)
• How to Get Your PPP Loan Forgiven (by the US Chamber of Commerce, 09/11/20)
• How PPP Forgiveness Could Impact Taxes and Financial Reporting (by MossAdams, 09/08/20)
• New PPP Guidance on Owner-Employees and Rent/Mortgage Interest Forgiveness (by GLGA member Husch Blackwell, 08/31/20)
• New SBA Forgiveness IFR Addresses Owner-Employee Comp and Rent-Related Costs (by GLGA member CliftonLarsonAllen, 08/26/20)
• PPP Loan Forgiveness Has Started, but You May Want to Hold Off on Applying (by The Motley Fool, 08/14/20)
• PPP Forgiveness: No Need to Rush, and Other Tips (by the Journal of Accountancy, 07/24/20)
• How to Account for Forgivable PPP Loan Proceeds (by GLGA member CliftonLarsonAllen, 07/17/20)
• Taxation of Forgiveness of Paycheck Protection Program Loans (by GLGA member CliftonLarsonAllen, 07/10/20)
• Congress Extends PPP Five More Weeks. Here’s How To Apply (by Forbes, 07/02/20)
• The Impact of the PPP Flexibility Act and Related SBA Releases of Updated Form 3508 (by GLGA member CliftonLarsonAllen, 06/18/20)
• What Does 60% Mean? (by GLGA member CliftonLarsonAllen, 06/04/20)
• New Law Relaxing PPP Rules: What You Need To Know (by Forbes, 06/05/20)
• SBA Issues Interim Final Rule on PPP (by GLGA member LB Carlson, 05/26/20)
• PPP Loan Forgiveness Guidance: What We Like and Don’t Like (by GLGA member CliftonLarsonAllen, 05/20/20)
• Treasury Department Fact Sheet (pdf download)
• Answers to Your Paycheck Protection Program FAQs (by GLGA member CliftonLarsonAllen, 04/14/20)
• How To Calculate Payroll Costs For Your Paycheck Protection Program Loan (Forbes, 04/05/20)
• FAQ: Paycheck Protection Program Loan Forgiveness (by GLGA member Husch Blackwell, 04/03/20)

Consolidated Appropriations Act, 2021

• Congress Passes Year-End COVID Relief Legislation (12/22/20)
• Consolidated Appropriations Act, 2021 – Full Text
• Consolidated Appropriations Act, 2021 – Summary of COVID Relief Provisions

• COVID Relief Bill: Five Things to Consider Now (by GLGA member CliftonLarsonAllen, 01/05/21)
• Congress Includes COVID-19 Economic Relief Provisions for Employers and Individuals in Federal Government Funding Bill (by GLGA member Ogletree Deakins, 12/28/20)

Coronavirus Aid, Relief, and Economic Security (CARES) Act

• Coronavirus Aid, Relief, and Economic Security (CARES) Act – Section by Section (03/25/20)
• Coronavirus Aid, Relief, and Economic Security (CARES) Act – Summary (03/25/20)
• FAQs: Employee Retention Credit under the CARES Act (IRS)

• New Federal Infrastructure Legislation Eliminates Employee Retention Credit (by GLGA member Husch Blackwell, 11/15/21)
• Safe Harbor May Help Organizations Qualify for Employee Retention Credit (by GLGA member CliftonLarsonAllen, 08/12/21)
• Main Street Loan Program Winds Down (by GLGA member BKD, 12/31/20)
• Main Street Loan Demand Increases; SEC Opines on ‘True Sale’ Treatment (by GLGA member BKD, 09/18/20)
• IRS Issues Guidance on Recapturing Excess Employment Tax Credits (by CPA Practice Advisor, 07/27/20)
• Changes to the Main Street Lending Program (by GLGA member Husch Blackwell, 05/01/20)
• About Form 7200, Advance Payment of Employer Credits Due to COVID-19 (IRS)
• IRS Provides Guidance Under the CARES Act to Taxpayers with Net Operating Losses (IRS, 04/09/20)
• FAQ: Employee Retention Credit for Employers under CARES Act (by GLGA member Husch Blackwell, 04/03/20)
• Tax Savings Opportunities from the CARES Act (by GLGA member CliftonLarsonAllen, 03/31/20)
• The Small Business Owner’s Guide to the CARES Act (3/27/20, pdf download)
• Coronavirus Emergency Loans Small Business Guide and Checklist (by the US Chamber of Commerce; 3/27/20, pdf download)

Keeping American Workers Paid and Employed Act

• Keeping American Workers Paid and Employed Act – fact sheet (03/25/20)

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