Tag: ppp loan forgiveness taxable income self employed

  • Loan Forgiveness Taxable Income

    Loan Forgiveness Taxable Income

    The U.S. Small Business Administration released a one-page form aimed at simplifying the application process to forgive Paycheck Protection Program loans, as well as newly updated and revised forms that conform to the requirements of the most recent stimulus legislation.  The COVID-19 aid package Congress passed last month revived the PPP with $284 billion of financing for small-scale businesses looking for forgiven loans to help deal with the financial fallout of the coronavirus epidemic. The law required that the SBA release simplified … Read more

  • Ppp Loan Forgiveness Taxable Income

    Ppp Loan Forgiveness Taxable Income

    The U.S. Small Business Administration has released a single-page form that aims to simplify the process of applying for the forgiveness of Paycheck Protection Program loans, together with revised and updated forms to meet the requirements of the most recent stimulus legislation.  Congress approved the COVID-19 relief plan last month and included $284 billion of financing to small businesses in need of loans. The funds were used to reduce the economic burden of the coronavirus pandemic. It also included … Read more