On June 2, MCB principals Jude Covas, Matt Dwyer, Phil Busenitz and Cindi Park presented a webinar for clients seeking information about how to maximize Paycheck Protection Program loan forgiveness. The principals reviewed the forgiveness application in detail, and also discussed eligible and ineligible payroll costs, covered period, and more. Specific examples were created to illustrate key points. Questions submitted in advance by participants were answered during a Q&A. Pending legislation and key issues that have yet to be addressed were also highlighted.
June 3 Update: As we mentioned in our PPP Loan Forgiveness Webinar, new legislation was being negotiated in Congress to extend deadlines and add flexibility. Senate Approves Paycheck Protection Program Flexibility Act of 2020; President Trump Expected to Sign.
As we have been doing with all SBA guidance during these past several weeks, we will be sure to update you with any additional insight as soon as possible. Continue to check back here for the most up to date tax information and changes in response to coronavirus. If you have questions about this or related topics contact an MCB Advisor at 703-218-3600 or click here.
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