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SBA Releases Guidance Regarding Early PPP Loan Forgiveness

On June 22, the U.S. Small Business Administration (SBA) released additional guidance regarding Paycheck Protection Program (PPP) loan forgiveness. A recent article from the Journal of Accountancy summarizes the information contained in the release. The new interim final rule primarily addresses changes made by the Paycheck Protection Program Flexibility Act

SBA Releases Application for PPP Loan Forgiveness

On Friday, May 15, the Small Business Administration (SBA) announced an important release for borrowers who received loans through the Paycheck Protection Program (PPP). The bureau made public a form and instructions for borrowers to use to apply for PPP loan forgiveness. The application must be completed and submitted to

Achieving PPP Forgiveness

Businesses that have managed to secure financing through the Paycheck Protection Program (PPP) are fortunate—but also saddled with a lot of red tape. Business owners and managers should be careful that they adhere strictly to the terms of the program in order to qualify for loan forgiveness. In response to

CARES Act Signed Into Law

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The CARES Act is the third round of federal government aid related to COVID-19. We have summarized the top provisions in

Frost & Company, PLLC Plans for Washington Stay at Home Order

In response to the Governor’s order to stay at home we are implementing a few changes in our operations effective immediately. In order to allow us to adhere to the workplace distancing requirements our staff will be working remotely. A few years ago, we invested in technology that allows us

What Does Paid Sick Leave Mean for My Organization?

On Wednesday, March 18, President Trump enacted a coronavirus emergency relief package, the Families First Coronavirus Response Act. The legislation includes relief for American workers required to take time off work because of the coronavirus, the Emergency Paid Leave Act of 2020. In order to help employers manage the cost

Federal Tax Filing Deadline Extended to July 15

On Friday, March 20, 2020, Secretary of the Treasury Steve Mnuchin released a statement that the federal tax filing deadline has moved in response to the ongoing coronavirus (COVID-19) pandemic. The new deadline of July 15, 2020, corresponds with the tax payment deadline previously rescheduled earlier in the week. However,
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