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Blog: Accounting Unbuttoned

Where Perkins explores accounting topics and news.

On May 13th, Treasury updated its Paycheck Protection Program (PPP) Frequently Asked Questions document by adding #46. As a reminder, in FAQ #31, Treasury had added an unclear requirement requiring that each borrower assess their ability to access other sources of liquidity in relation to their certification for the...

May 7, 2020 The SBA issued revised guidance via FAQ #43 extending the “safe harbor” deadline from May 7th until May 14th relating to repayment of any PPP loan already funded. All borrowers were required to reevaluate whether their loan certification was valid based on revised (but unclear) guidance requiring...

The Treasury Department posted updated Frequently Asked Questions (FAQs) on April 23, 2020. FAQ #31 deals specifically with large companies and whether they qualify for PPP loans when they might have other adequate sources of liquidity. However, the FAQ#31 answer states that all borrowers should review their certification...

We want to advise clients to be on the lookout for a surge of calls and email phishing attempts related to the Coronavirus (COVID-19). These contacts can lead to tax-related fraud and identity theft. The Internal Revenue Services issued a reminder to taxpayers that they are...

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act (the CARES Act or Act), with its reported $2.3 trillion in spending or stimulus. The Act, while primarily targeting economic stabilization and stimulus, also contains a host of...

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