Last night the Senate passed unanimously, the Paycheck Protection Flexibility Act. The House passed this legislation last week with a 417 to 1 vote. Congress is confident that this bill will be signed by the President.
Many businesses are currently in the 8-week covered period and are doing calculations for the forgiveness application. The Act will loosen requirements on the Paycheck Protection Program.
The major provisions:
Additional guidance will be forthcoming.
This material is generic in nature. Before relying on the material in any important matter, users should note date of publication and carefully evaluate its accuracy, currency, completeness, and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.
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