All in COVID-19 Updates
According to emails received by the New York Post, the SBA expects to begin processing PPP loan forgiveness applications this week. Nearly two months have passed since the SBA began accepting applications on August 10, but to date, none of the 96,000 requests had been processed. All loans over $2 million will be audited.
It looks like there is going to be one last attempt at Congress considering a new long shot bill. This is the latest version of the Heroes Act and there are rumors the vote could happen this Wednesday. The price tag on this version of the Act is $2.2 trillion.
The CARES Act has a lot of little things that you can take advantage of this year:
Over the counter drugs and feminine hygiene products can be paid for with your HSA.
Taxpayers who have outstanding tax debts will have liens or levies suspended, and new delinquent accounts will not be sent to the collection at this time.
Distributions from retirement accounts will not incur the 10% penalty for certain taxpayers.
