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AICPA Resource: SBA Paycheck Protection Program (PPP) FAQs

“This series of frequently asked questions (FAQs) provides answers to questions we are hearing from our members about the Paycheck Protection Program (PPP).

Check back often as we will update these FAQs as more guidance is released.”

WEBSITE RESOURCE:  https://www.aicpa.org/interestareas/privatecompaniespracticesection/qualityservicesdelivery/sba-paycheck-protection-program-resources-for-cpas/sba-payroll-protection-program-faqs.html

PPP Forgiveness FAQs

Dear Clients and Friends:

Now that lenders have begun to disburse loan funds under the PPP loan program, an increasing number of questions have been raised related to the usage of the loan funds and mechanics of the calculation of the loan forgiveness.  Below is a summary of some of the frequently asked questions we…

Cassady Schiller’s CARES Act Task Force Q&A

Dear Clients and Friends:

As we continue to navigate the current environment, Cassady Schiller’s CARES Act Task Force has the following updates and comments based on questions we have received. It is important to disclaim that the following interpretations are based on information available to us today (April 14), and that these interpretations will likely…

Economic Stimulus to Medium-Sized Businesses

Dear Clients and Friends,

This morning (April 9th) the Treasury Department released another round of funding aimed at supporting America’s medium-sized businesses, by pushing an additional $600 billion into Main Street loan programs.  Additionally, the Treasury Department is providing $500 billion in direct financing to states, counties, and cities to supplement income due to the…

Paycheck Protection Program FAQ

Dear Clients and Friends,

Yesterday (April 6) the Treasury Department released an FAQ document to both borrowers and lenders, providing additional guidance to some of the Payroll Protection Program’s (PPP) most pressing questions to aid in alleviating vagueness between the PPP Application and previous guidance issued the week prior.  The responses provided in the FAQ…

Treasury Department Issues Further Guidance Related to Paycheck Protection Program

Dear Clients and Friends,

As we previously communicated, the Treasury Department released some guidance (PPP Guidance) related to the Payroll Protection Program (PPP) on Tuesday, March 31.  As part of the release, it communicated that the application process would open today and that it would be on a first-come, first-served basis.  Although the guidance…