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Paycheck Protection Program Application Now Available

Tax Prep, Planning & Strategy|

The Paycheck Protection Program application is now available for small businesses and not-for-profits that wish to apply for benefits under the Small Business Administration’s new disaster assistance loan program.

The Paycheck Protection program, launched as part of last week’s Coronavirus Aid, Relief and Economic Security (CARES) Act, offers smaller employers financial relief which, when used for employee salaries, sick and medical leave, insurance, and mortgage and rent, will not need to be repaid.

Eligible employers include 501(c)(3) and 501(c)(19) not-for-profit organizations and businesses with less than 500 employees, sole proprietors and self-employed professionals.

Access the application by clicking here.

We will continue to provide updates as they become available. WCS is here to help you navigate through this time of uncertainty. Please do not hesitate to call our offices and speak to your representative about how this could affect your situation and how WCS can help you during this unprecedented and challenging time.

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wcscpas Weyrich Cronin Sorra @wcscpas ·
10 Oct

"Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are six iss ...

wcscpas Weyrich Cronin Sorra @wcscpas ·
8 Oct

"Most not-for-profit leaders are familiar with the concept of excess benefit transactions and the need to avoid them. But a refresher course may be in order, particularly when you consider that 501(c)(3) organizations determined by the IRS to have violated the rules can be li ...