Pellegrino, Saccomani & Wells, CPA's, LLP
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NEWS
01/17/2021

COVID-19 Special Update: Paycheck protection program resumes and introduces a second draw

SBA in consultation with the US Department of Treasury reopened the Paycheck Protection Program (PPP) for the first draw loans the week of January 11, 2021. SBA will begin accepting applications for the second draw loans on January 13, 2021.

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10/20/2020

Covid-19 Special Update: New exemption from forgiveness reductions for PPP loans under $50,000

On October 8, 2020, the Treasury Department and Small Business Administration (SBA) released a simplified Payroll Protection Program (PPP) forgiveness application (Form 3508S) and instructions for loans of $50,000 or less, as well as an Interim Final Rule (IFR) which explains the changes.

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10/20/2020

Covid 19 Special Update- Coronavirus relief for retirement plans and IRAs

The Coronavirus Aid, Relief, and Economic Security (CARES) Act makes it easier for you to access your savings in Individual Retirement Arrangements (IRAs) and workplace retirement plans if you're affected by the coronavirus. This relief provides favorable tax treatment for certain withdrawals from retirement plans and IRAs, including expanded loan options.

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