Tax News from Bucknam & Conley

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PPP Loan Forgiveness Extended: What to Know

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Today’s blog is a summary of Bill HR 7010 passed by the Senate on 6/3/2020. The likelihood of forgiveness of a significant portion of your loan is dramatically increased by these four provisions: The eight-week “covered period” under CARES has been extended to 24 weeks (nearly six months!), so you have three times longer to spend the loan…
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PPP Loan Amnesty: Everything You Need to Know

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Many companies are rightly confused by the gyrations of the U.S. Treasury and Small Business Administration (SBA) regarding qualifications and rules for the Paycheck Protection Program (PPP).  Observers have aptly described the government’s process as “building a plane while airborne.”  Small businesses are caught in a perfect storm of unclear guidance, moving goalposts, and a…
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