{"id":1526,"date":"2021-03-08T03:18:34","date_gmt":"2021-03-08T03:18:34","guid":{"rendered":"https:\/\/www.harringtoncpas.com\/?p=1526"},"modified":"2021-03-08T03:18:34","modified_gmt":"2021-03-08T03:18:34","slug":"pp2-latest-information","status":"publish","type":"post","link":"https:\/\/www.harringtoncpas.com\/pp2-latest-information\/","title":{"rendered":"PP2 Latest Information"},"content":{"rendered":"

Dear Valued Business Clients,<\/p>\n

Re: PPP2 and Self Employed tax credits for Covid-19 related leave<\/b><\/strong><\/p>\n

The priority deadline for the PPP round 2 applications is March 9, 2021<\/b><\/u><\/strong><\/p>\n

If your business has been affected by Covid-19, and you haven\u2019t applied for the \u00a0round 1 or round 2 PPP loans yet, there may be a forgivable loan available to you.<\/p>\n

To qualify for the 1st<\/sup> forgivable loan your business needs to have payroll and have been affected by Covid-19.<\/p>\n

To qualify for the 2nd<\/sup> forgivable loan \u00a0your business also needs to show a 25% decrease in income when comparing a quarter in 2020 to same quarter in 2019.<\/p>\n

Please see below link from the Small Business Administration for further details and qualifications:<\/p>\n

https:\/\/www.sba.gov\/funding-programs\/loans\/coronavirus-relief-options\/paycheck-protection-program\/second-draw-ppp-loans<\/a><\/p>\n

Covid-19 sick and family leave tax credits under FFCRA<\/b><\/u><\/strong><\/p>\n

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.<\/p>\n

See below link from IRS for further information:<\/p>\n

https:\/\/www.irs.gov\/newsroom\/new-irs-form-available-for-self-employed-individuals-to-claim-covid-19-sick-and-family-leave-tax-credits-under-ffcra#:~:text=Eligible%20self%2Demployed%20individuals%20will,Certain%20Self%2DEmployed%20Individuals%20PDF<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2019t applied for the \u00a0round 1 or round 2 PPP loans yet, there may be a forgivable …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/posts\/1526"}],"collection":[{"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/comments?post=1526"}],"version-history":[{"count":0,"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/posts\/1526\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/media?parent=1526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/categories?post=1526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.harringtoncpas.com\/wp-json\/wp\/v2\/tags?post=1526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}