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SBA Opens Applications to More Lenders on Friday and Monday

The Small Business Administration (SBA) has announced that lenders with $1 billion or less in assets can start making Paycheck […]

Posted By Tonneson
In Business, Business Tax, COVID-19 Updates
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January 7, 2021Posted By Tonneson

What’s New for PPP Loans under the CAA

On December 27, President Trump signed the Consolidated Appropriations Act (CAA) which was in part enacted to further assist small […]

November 19, 2020Posted By Tonneson

IRS Issues Safe Harbor Rule for PPP Loan Expenses

On Wednesday, the Internal Revenue Service (IRS) issued new guidance on the deductibility of PPP loan eligible expenses in Revenue […]

November 11, 2020Posted By Tonneson

SBA Requiring Borrowers of PPP loan in Excess of $2M to Submit Questionnaire

The Small Business Administration (SBA) has recently compiled a Questionnaire comprised of 21 questions for large borrowers: Form 3509 for […]

November 10, 2020Posted By Tonneson

Tonneson & Company Named GGI Member Firm of the Year 2020

Tonneson & Company is proud to have been named a Member Firm of the Year 2020 by Geneva Group International […]

September 2, 2020Posted By Tonneson

Additional Guidance on Payroll Tax Deferral

Last Friday, the IRS issued guidance on the payroll tax deferral that President Trump signed in a presidential memorandum on […]

August 31, 2020Posted By Tonneson

PPP Forgiveness Rules for Owners and Related Party Expenses

The Small Business Administration (SBA) along with Treasury issued additional guidance regarding who is considered an owner for a C […]

August 5, 2020Posted By Tonneson

New FAQs for PPP Loan Forgiveness

On August 4, after several weeks of silence, the Small Business Administration (SBA) along with Treasury has issued a new […]

July 22, 2020Posted By Tonneson

PPP Loan Forgiveness Tool Now Available Ahead of Final Guidance

The AICPA has officially launched its PPP Loan Forgiveness Tool (the Tool) which will assist borrowers with filling out the […]

July 21, 2020Posted By Tonneson

SBA and Treasury Release Data on PPP Loan Recipients

On July 6, the Small Business Administration (SBA), in consultation with Treasury, released detailed loan-level data regarding the loans made […]

July 21, 2020Posted By Tonneson

AICPA Makes Recommendations for Inclusion in Next Relief Bill

With Congress back in session this past Monday, the AICPA has issued recommendations for the next relief package, which is […]

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