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At least one of the people involved in the 2021 United States Capitol attack received a PPP loan. Richard Barnett received a $9,300 PPP loan on April 14, 2020. [183] [184] A 38-year-old man in Irvine, California, had falsely claimed to be operating four businesses and had received about $5 million which he allegedly used to buy luxury cars. [185]
Political commentator Ben Shapiro didn’t receive PPP loan forgiveness. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ...
The initiative is only for loans of $150,000 or less, which make up 92% of the PPP loans distributed. The new online portal is reportedly designed to streamline the process both for borrowers and ...
The Employee Retention Credit is equal to 50 percent of qualified wages paid to eligible employees between March 13, 2020, and December 31, 2020. [14] Eligible employee is defined differently depending on the size of the employer. If the employer averaged 100 or fewer full-time employees [h] during 2019, then all of its employees are eligible ...
The IRS recently issued three revenue procedures providing guidance with respect to the timing of tax-exempt income from PPP loan forgiveness.
The CARES Act created the $349-billion Paycheck Protection Program, which provided low-interest loans to small businesses that were forgivable if they maintained their employees and payroll. The $349 billion was fully allocated within 13 days. During those 13 days, 1.6 million loans were approved by nearly 5,000 banks and other lenders. [3]
After months of litigation, the SBA released the dataset Tuesday night on every small business that received a Paycheck Protection Program (PPP) or Economic Injury Disaster (EIDL) loan.
Shortly thereafter, several U.S. representatives tweeted in opposition to Biden's student loan forgiveness program; the White House account responded by quote tweeting the representatives and noting how much each individual representative received in PPP loan forgiveness.