Main Street Practitioner Blog

Tax and Accounting News for Practitioners from Main Street to Wall Street

  • Jessica L. Jeane, J.D. Director of Public Policy & Strategic Communications January 20, 2021 The U.S. Small Business Administration (SBA), in consultation with Treasury, released late in the evening of January 19 a new Paycheck Protection Program (PPP) interim final rule (IFR) and revised loan ...

  • Jessica L. Jeane, J.D. Director of Public Policy & Strategic Communications January 17, 2021 The U.S. Small Business Administration (SBA) has released additional Paycheck Protection Program (PPP) guidance regarding forgiveness application resubmissions and excess loan amount errors.  PPP Loan ...

  • SBA Press Release Number 21-07  January 13, 2021 SBA Re-Opening Paycheck Protection Program to Small Lenders on Friday, January 15 and All Lenders on Tuesday, January 19 The U.S. Small Business Administration (SBA), in consultation with the U.S. Treasury Department, will re-open the Paycheck ...

  • The IRS on January 11 sent its Taxpayer First Act Report to Congress – a comprehensive set of recommendations to enhance and reimagine the taxpayer experience and IRS operations. The bipartisan Taxpayer First Act (TFA) ( P.L. 116-25 ), enacted in July 2019, is the most significant reform legislation ...

  • Jessica L. Jeane, J.D. Director of Public Policy & Strategic Communications January 9, 2021 Treasury and the U.S. Small Business Administration (SBA) have issued additional Paycheck Protection Program (PPP) subregulatory guidance and applications. PPP Reopening The PPP is scheduled to reopen ...

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  • Jessica L. Jeane, J.D. Director of Public Policy & Strategic Communications January 8, 2021 The U.S. Small Business Administration (SBA) is no longer deducting Economic Injury Disaster Loan (EIDL) Advances from Paycheck Protection Program (PPP) loan forgiveness payments remitted by the SBA to PPP ...

  • January 8, 2021 NEWS RELEASE   SBA and Treasury Announce PPP Re-Opening; Issue New Guidance WASHINGTON – The U.S. Small Business Administration (SBA) , in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January ...

  • Jessica L. Jeane, J.D. Director of Public Policy & Strategic Communications January 7, 2021 Treasury and the U.S. Small Business Administration (SBA) released late in the evening of January 6 guidance on Paycheck Protection Program (PPP) First and Second Draw Loans. The guidance, released as ...

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  • Jessica L. Jeane, J.D. Director of Public Policy & Strategic Communications January 6, 2021 Treasury and the IRS released guidance on January 6 implementing the recent legislative change allowing for the deductibility of expenses paid with a Paycheck Protection Program (PPP) loan. The guidance, ...

  • Jessica L. Jeane, J.D. Director of Public Policy & Strategic Communications January 4, 2021 The U.S. Small Business Administration (SBA) has released a revised Paycheck Protection Program (PPP) Loan Forgiveness Application Form 3508S that has been updated with a new expiration date. The previously ...