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President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
Meant to keep employees on the payroll during a time of tremendous upheaval in the economy, PPP loans were an attractive program to borrowers because of the interest rate of just 1%, and could be ...
The PPP program was created by Congress in March 2020 to help small businesses struggling with COVID-19 closures and disruptions. Under the terms of the program, small businesses could obtain ...
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3]
The IRS recently issued three revenue procedures providing guidance with respect to the timing of tax-exempt income from PPP loan forgiveness.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
In his PPP loan application, Capps claimed Midwest Business Group had eight employees, an average monthly payroll of $32,715 and paid eligible payroll costs of $380,000 in 2019.
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