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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 IRS recently issued three revenue procedures providing guidance with respect to the timing of tax-exempt income from PPP loan forgiveness.
Provisions of the Paycheck Protection Program and Health Care Enhancement Act include the following. Appropriates an additional $320 billion of funding for the Paycheck Protection Program, which provides low-interest loans for payroll costs and other expenses to small businesses that are forgivable under certain circumstances. [19]
The Coronavirus Aid, Relief, and Economic Security Act, [b] [1] also known as the CARES Act, [2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.
This program began with the first coronavirus stimulus package, passed in March 2020. This round of the PPP provides funding for up to $284 billion in loans. Second Stimulus Bill: Paycheck ...
The 22nd District Agricultural Association, which operates the Del Mar Fairgrounds, has reached a settlement of $5,664,015 over allegations that it improperly secured a Paycheck Protection Program ...
On April 24, a $484 billion bill was passed to help fund the CARES Act-created Paycheck Protection Program (PPP), provide $75 billion in funding to hospitals, and implement nationwide testing for the virus. [226] [227] [228]
The Palm Beach County State Attorney's Office in 2023 created a task force to investigate fraudulent Paycheck Protection Program claims, with charges to be pursued at the state level.