Last week, the IRS posted guidance on what else is extended to May 17, besides individual 1040s, which are normally due April 15.
All in COVID-19 Updates
COVID-19 Weekly Digest (March 31, 2021)
Last week, Congress voted to extend the PPP to May 31, giving small businesses an additional two months to submit applications. The SBA will have until June 30 to finish processing loans.
COVID-19 Weekly Digest (March 24, 2021)
As of March 21, the SBA had approved more than eight million loans totaling over $718 trillion for the entire loan program. So far this year, three million loans totaling nearly $196 million have been approved. However, with the program due to expire at the end of this month, Congress is working to extend the program to May 31.