PPP changes are moving forward -
Yesterday the Senate unanimously passed the House relief Bill known as the Paycheck Protection Flexibility Act. It now just needs to be signed by President Trump which is anticipated anytime.
This will extend the current 8 week forgiveness period to 24 weeks and moves the FTE safe harbor date from June 30th to Dec 31st. The repayment period is now 5 years @ 1%.
Of course there are details (hiding the devil) that I will be studying in the coming days. I will follow up once it is final - in the meantime - a sigh of relief is in order!