T.I.E. BlogT.I.E. Blog

(The.Idea.Exchange) Blog. Timely articles on a wide range of topics including new tax legislation, accounting regulations, best practices, industry news, business insights and more.

Simplified PPP Loan Forgiveness Application

The US Small Business Administration (SBA) and Treasury have published updated Paycheck Protection Program (PPP) loan forgiveness guidance and forms, including a one-page application for borrowers that received a PPP loan of $150,000 or less – Form 3508S. Before the…

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PPP Round 2

Reopening of PPP Loan Program The SBA and Treasury announced that the new PPP will re-open the week of Jan. 11 with community financial institutions exclusively allowed to make first-draw PPP loans on starting Jan. 11 and second-draw PPP loans…

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Important PPP Changes and Guidance

IMPORTANT NOTE: On January 6, 2021 the SBA issued approximately 120 pages of new regulations regarding PPP loans.  We have updated the below article on PPP Changes with significant new details, including: New methods to calculate a 25% reduction in…

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Unemployment fraud increasing exponentially

The U.S. Department of Labor’s Inspector General estimated $26 billion in unemployment benefits could end up being pocketed by fraudsters.  NortonLifeLock, which has 4.5 million customers, has seen  a 6,140% spike in the number of unemployment insurance fraud claims from…

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