Source: JOURNAL OF ACCOUNTANCY, 5/25/20


Treasury and the U.S. Small Business Administration (SBA) released new Paycheck Protection Program (PPP) guidance Friday night that provided some clarity on several loan forgiveness questions but didn’t address the two parts of PPP that arguably have generated the most concerns among the millions of small businesses and other entities that have received funding. Two new interim final rules issued late Friday build upon the loan forgiveness application and instructions released May 15 but they don’t make changes to either the eight-week period...

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