The SBA has targeted the end of this week for reopening the application portal for the $16.25 billion Shuttered Venue Operators Grant (SVOG) program. Technical problems forced the SBA to close the portal for repairs only hours after it opened on April 8.
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TOPICS
Management accounting
How hiring practices have shifted as a result of the pandemic
Companies should consider benefits and challenges of hiring workers outside their geographic area.
Shuttered Venue Operators Grant program closes for repairs on its opening day
The SBA opened its new application portal for the $16.25 billion Shuttered Venue Operators Grant (SVOG) program, but shut it down for repairs due to “technical difficulties” that prevented the platform from accepting applications.
Biden signs PPP deadline extension into law
The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 when President Joe Biden signed the extension into law.
PPP quiz: 5 frequently asked questions
Businesses and the CPAs who serve them have many questions about the administration and implementation of the Paycheck Protection Program. See if you can answer some of the questions most often asked of the AICPA’s PPP experts.
Number of US companies planning space reduction grows slightly
Questions asked as part of a quarterly economic sentiment survey show that more companies expect to cut back on office space in the coming year.
SBA eyes early April to begin Restaurant Revitalization Fund rollout
The SBA is targeting early April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund.
SBA raises COVID-19 EIDL loan limit to $500,000
The SBA announced that starting the week of April 6 it will more than triple the maximum amount that small businesses and nonprofits can borrow under the COVID-19 Economic Injury Disaster Loans (EIDL) program.
Shuttered Venue Operators Grant program to open April 8
The SBA will begin accepting Shuttered Venue Operators Grant applications on April 8. Entities interested in applying can sign up for updates via a splash page for the new SVOG application portal.
A new risk management tool, and PPP and tax deadline updates
Hear or read about the Association’s new risk management resource, plus news on tax deadlines, potential PPP application deadline changes, and more.
New PPP guidance implements changes from American Rescue Plan Act
The SBA issued an interim final rule incorporating revisions to the Paycheck Protection Program made by the American Rescue Plan Act. The new guidance also rules that entities that receive a Shuttered Venue Operators Grant cannot subsequently receive a PPP loan.
House passes PPP deadline extension in 415-3 vote
The U.S. House of Representatives voted 415-3 Tuesday night to extend the Paycheck Protection Program application deadline by 60 days. The PPP Extension Act of 2021 moves the PPP application deadline from March 31 to May 31 and allots an additional 30 days for processing applications received by May.
Climate change disclosure comments sought by SEC
The Securities and Exchange Commission is seeking public comment on its disclosure rules and guidance related to climate change disclosures.
SBA defers EIDL payments until 2022
The SBA extended deferral periods for all disaster loans, including those made through the COVID-19 Economic Injury Disaster Loan (EIDL) program. With the deferral, small businesses that received a COVID-19 EIDL loan won’t have to make a first payment on the loan until next year.
SBA targets early April for Shuttered Venue Operators Grant launch
The SBA expects to begin accepting Shuttered Venue Operators Grant applications early next month, an agency spokesperson confirmed. The SBA also released an updated pre-application checklist clarifying the requirements for applicants to submit audited financial statements and single audits.
AICPA’s Simpson pushes for PPP deadline delay at congressional hearing
The AICPA’s vice president for Firm Services, Lisa Simpson, CPA, CGMA, told a congressional committee during a hearing that Congress should push back the application deadline for the Paycheck Protection Program by at least 60 days.
AICPA takes case for PPP deadline delay to Congress
The AICPA sent a letter encouraging congressional leaders to push back the Paycheck Protection Program’s March 31 application deadline at least 60 days.
SBA issues guidance but no start date for Shuttered Venue Operators Grant program
The SBA recently released fresh guidance for the Shuttered Venue Operators Grant (SVOG) program, but the agency still cannot say when the $15 billion program will start accepting applications.
AICPA calls on SBA to change ‘unfair’ PPP guidance, deadline
The AICPA reiterated its recommendation that the SBA delay the end of the Paycheck Protection Program (PPP) application period by at least 60 days and also urged the SBA to make retroactive new rules issued this week changing the formula sole proprietors use to calculate their maximum loan amounts.
Employee retention credit guidance update and rising economic confidence
This podcast with transcript shares analysis of the latest IRS guidance on the employee retention credit and takes a look at CPA executives’ sentiment about the economy.
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