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Second Draw PPP Loans

Late this past Wednesday, the SBA issued Interim Final Rules addressing Second Draw PPP Loans. These PPP Loans were approved in the Stimulus Bill passed by Congress in late December. The last day to apply for a Second Draw PPP Loan is March 31, 2021. If you meet the Second Draw Loan requirements and are interested in...
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For Employers: Treasury Guidance on Employee Payroll Tax Deferral Issued Late Friday

Late Friday the Treasury issued a three page Notice providing some guidance regarding the deferral of employee social security taxes normally withheld from employees paychecks. The guidance still leaves questions and confusion, but here are the bullet points. 1. Employers are the “Affected Taxpayers”, not employees. This is important, because it appears to leave employers...
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