The Small Business Administration (SBA) has forgiven over 98% of the total Paycheck Protection Program (PPP) loan value that borrowers requested them to forgive; recently, however, SBA has begun to issue more forgiveness PPP loan forgiveness denials. Many of these recent denials issued by the SBA are not consistent with… [Read more]
SBA Loan Forgiveness Denial Appeal Process
During the COVID-19 pandemic, the Small Business Administration (SBA) doled out Payment Protection Program (PPP) loans to qualified businesses. Over the course of the program, SBA granted over $809 billion in loans. SBA is currently processing loan forgiveness and loan denials. Businesses that meet SBA PPP loan forgiveness terms are… [Read more]
How to Appeal an SBA PPP Loan Forgiveness Denial
The U.S. Small Business Administration (SBA) is currently going through loan forgiveness applications to approve or deny claims. Businesses that filed for a PPP loan during the COVID-19 pandemic and used the funds correctly can apply for loan forgiveness. According to SBA, the loan is eligible for forgiveness if, “during… [Read more]
What to Do if My PPP Loan is Not Forgiven?
Business owners who applied for SBA PPP loan forgiveness, but were denied have a limited time frame in which to appeal the forgiveness denial. Read on to learn about the process of appeal, what steps you must take, and the strict timeframe in which you must file to appeal a… [Read more]
2022 Tax Season: What to Look Out For
On January 24th, the Internal Revenue Service (IRS) announced the start of tax season. Now, the agency can accept federal income tax returns for 2021. With tax season officially in progress, the April deadline is quickly approaching. Organizing tax filing information well in advance, and understanding any tax changes for… [Read more]
CPA vs Tax Attorney: What’s the difference?
In some cases, it may be difficult to distinguish what your CPA is capable of helping you with and which tasks are better suited for a tax attorney. Both are experts when it comes to tax matters but in different ways. While your CPA is an expert at preparing and… [Read more]
How your PPP loan can create criminal exposure
In the midst of the Coronavirus pandemic, the CARES Act provided the funding for the SBA to implement the Paycheck Protection Program (PPP) to provide financial assistance to businesses. While many jumped at the opportunity to receive financial support, the aftermath of business audits has made some regret they did. … [Read more]