PP2 Latest Information

Dear Valued Business Clients,

Re: PPP2 and Self Employed tax credits for Covid-19 related leave

The priority deadline for the PPP round 2 applications is March 9, 2021

If your business has been affected by Covid-19, and you haven’t applied for the  round 1 or round 2 PPP loans yet, there may be a forgivable loan available to you.

To qualify for the 1st forgivable loan your business needs to have payroll and have been affected by Covid-19.

To qualify for the 2nd forgivable loan  your business also needs to show a 25% decrease in income when comparing a quarter in 2020 to same quarter in 2019.

Please see below link from the Small Business Administration for further details and qualifications:


Covid-19 sick and family leave tax credits under FFCRA

If you or a family member under your care has been sick with Covid-19, your self -employed business can be eligible for a tax credit. Please let our office know when processing your tax returns so we can confirm amount and eligibility. This is specifically for partnerships and Schedule Cs.

See below link from IRS for further information: