Payroll

The American Institute of CPAs (AICPA) has recommended a defined set of documents for lenders to rely on as well as some key clarifications in the Treasury Department and Small Business Administration’s Paycheck Protection Program (PPP) application ...

Paycheck Protection loans, which are provided through SBA-approved lenders, are available to small business borrowers to cover payroll and other operating costs. Included among the application requirements is specific documentation related to payroll.

For the calculation of the Average Monthly Payroll cost under the Paycheck Protection Program (PPP), the Gross Payroll approach should be used for the application, according to the recommendation from the AICPA-led small business funding coalition.

The Department of the Treasury (Treasury) announced on April 1 that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an economic impact payment.

This tool is available for small businesses, CFOs, and accounting firms to help them navigate the complex and dynamic program, increasing the speed of the application process.

Downloadable PDF of the Small Business Administration's Paycheck Protection Program borrower application form. For use by small businesses requesting Coronavirus relief loans from the SBA.

As projections of the coronavirus death toll soar, forecasts for the ensuing economic carnage have also quickly turned much darker – both for the depth and duration of the damage.

Initial U.S. unemployment insurance claims rose last week to over 6.6 million, bringing the total number of people to file initial claims in the last two weeks to nearly 10 million.