News from Hill Country Payroll

PPP Covered Period Increased to 24 Weeks; SBA Releases EZ Forgiveness Application to Support New Forgiveness Guidelines

On June 5, 2020 the President signed the Paycheck Protection Program Flexibility Act into law.  The act modified the PPP forgiveness process and provided some much anticipated relief to business owners.  On June 16, 2020 the Small Business Administration released amendments to the  forgiveness application and instructions.  At the same time, a new EZ forgiveness application and instructions were also released. 

We Have Our PPP Loan - What's Next?

Updated May 18, 2020 to include the Loan Forgiveness Application and related worksheets.

 

Resources for Paycheck Protection Program Rules and Guidance

Last Updated June 20, 2020

You may have questions related to the Paycheck Protection Program...

SBA Provides an Update on Round Two Funding for the Paycheck Protection Program

The Small Business Administration has released results from the first 5 days of the second round...

IRS Releases Draft Form 941 to Support FFCRA and CARES Act Payroll Tax Credits

On Wednesday, April 29th the IRS released a draft revision of the Form 941 for expected use...

Cyber Scam: Employees Being Asked to Confirm Payroll Amounts for Bogus Stimulus Payments

The various programs being offered to help businesses and employees work through the COVID 19...

What Documents and Information Should I Gather from my Employees that are Eligible for Paid Sick Leave or Expanded Family Medical Leave as a Result of COVID 19?

The new small business guidelines for paid sick leave and expanded family medical leave provided...

SBA Rules Open the Door for Faith Based Organizations to Access Forgivable Loans Provided Through the Paycheck Protection Program

With the release of an additional interim rule, the SBA cleared the way for all faith based...

** Updated ** Paycheck Protection Program - Application and Overview for Forgivable Loans Released by Treasury

Updated - Saturday, April 4, 2020

On Thursday, April 2nd, the SBA released interim final rules...

The CARES Act - Paycheck Protection Program - an Extension of the SBA 7(a) Loan Program

On Friday, March 27th Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES)...