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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 ...
The version of the bill passed by the Senate included the expanded funding for rural and minority communities, for SBA disaster funding, and the money for hospitals and testing, but it did not include more funding for state and local governments, nor the increased SNAP benefits. [1] The bill passed the Senate by voice vote on April 21, 2020.
"The answer to this one is actually exciting, and yes," said Misty Erickson, Tax Research Manager at the National Association of Tax Professionals. If you’re a small business owner, you can ...
While many small-business owners complained of missing out on crucial funding from the Paycheck Protection Program, others mistakenly ended up receiving their money twice — or multiple times.
The U.S. Treasury Department released Monday a highly anticipated trove of data identifying every company that has received a loan of more than $150,000 from the Paycheck Protection Program (PPP ...
If the employer is a recovery startup business, then it is based on qualified wages paid between January 1, 2021, and December 31, 2021. [m] [n] [3] Qualified wages are wages subject to social security tax and paid to employees between January 1, 2021, and September 30, 2021, limited to up to $10,000 per quarter per employee in 2021.
The church agreed to repay more than $70,000 in PPP loan money used to make payments on the principal mortgage balance on one of its four properties. ... the government paid her more than $10,000 ...
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