Listen to the full twenty-minute podcast episode below.
New Information through 1/8/21 -The SBA released an IFR late on Jan 6th and additional guidance on Jan 8th that provides guidance on the implementation of the new PPP program. Here is a link to the actual IFR, and good summary articles from Forbes and Journal of Accountancy. On this round of PPP, the window is fairly small – the application deadline is March 31st, 2021 – and as banks, etc. have a much better handle on how to do this, the funds will move quickly.
Key Links:
PPP First Draw Borrower Application Form (01-08-21)
PPP Second Draw Borrower Application Form (01-08-21)
Top-line Overview of First Draw PPP (1/8/2021)
Top-line Overview of Second Draw PPP (1/8/2021)
And for a full discussion of all the details:
Tune in to this episode of Startup Success, where our host Kate Adams chats with Steven Lord, head of Burkland’s New York office and Fintech Practice, and Ardy Esmaeili, CPA, head of Tax Services at Burkland, to outline the bill’s parameters and discuss the updates made to the PPP program, new PPP parameters and important tax ramifications.
This episode includes:
- A break down of the PPP provisions in the bill 📝
- New PPP eligibility criteria ✔️
- How this round of loans differs from the last one ❗
- How to obtain a second PPP loan 💵
- Clarifications and changes to tax credits 💲