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Archives for June 2020

Webinar Round-Up: PPPFA Forgivable Loan Accounting

June 24, 2020   |   Posted in: Business Advisory Services, Tax Laws, Timely News

Partners S. Scott Seamands and Stanley Woo hosted our quarterly virtual affordable housing roundtable, along with our client Mutual Housing of California. We have hosted these quarterly roundtables since the early 1990’s but in the current environment the roundtables have become virtual meetings. This quarter we outlined the issues related to obtaining loan forgiveness and other aspects of the SBA Paycheck Protection Program (PPP). We also ... more

Paycheck Protection Program Flexibility Act of 2020

June 08, 2020   |   Posted in: Affordable Housing, Not For Profit, Timely News

The Paycheck Protection Program Flexibility Act (PPPFA) was signed into law on June 5, 2020, to modify certain provisions related to the forgiveness of loans under the Paycheck Protection Program (PPP). One change allows recipients of loan forgiveness under PPP to also defer a portion of 2020 payroll taxes, but there are several other modifications.  The following chart summarizes the key provisions compared to the original CARES Act ... more


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