Jessica L. Jeane, J.D. Director of Public Policy & Communications October 24, 2020
The IRS released draft 2020 Form 1040 and 1040-SR Instructions overnight on October 23, which includes instructions for Schedules 1 through 3. Additionally, the U.S. Small Business Administration (SBA) has released, and is expected to formally publish, a Paycheck Protection Program (PPP) Notice for public comment on Monday, October 26.
The PPP, enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, (P.L. 116-136), provided forgivable loans to eligible small businesses, certain non-profit organizations, veteran’s organizations, Tribal ...