Comment on PPP Round 2: Who is eligible, what expenses can be paid, and what is the tax treatment?

PPP Round 2: Who is eligible, what expenses can be paid, and what is the tax treatment?

Shortly before the end of the bizarre and painful 2020 calendar year, the Consolidated Appropriations Act for 2021 (the Act) was signed into law, providing an additional $284 billion appropriation for the Paycheck Protection Program (PPP). The new round of PPP funding is available for both new borrowers and some repeat PPP borrowers that meet specified criteria.

 

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