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Take A Look At The New PPP Legislation

PPP Loan Forgiveness | PPP Flexibility Act | Ohio CPA Firm

What Will The PPP Look Like In 2021?

2021年新的综合拨款法案(CAA)包含许多预期的条款, including:

  1. PPP贷款减免费用的抵税性- PPP或PPP2贷款减免不会产生税务责任.
  2. 15万美元以下的PPP贷款自动减免——那些贷款低于15万美元的借款人应该等到SBA提供简化表格后再寻求减免.
  3. PPP 2.对于之前获得PPP贷款的合格企业(可能从1月开始)，将提供0(第二次抽取贷款)，这尤其受到继续感受到COVID不利影响的企业的欢迎.
  4. 以前没有获得PPP贷款的公司现在可以使用原来的标准申请PPP贷款.
  5. 按照原来的标准，501(c)(6)组织现在有资格获得PPP贷款.
  6. 小企业管理局债务减免计划的延期和相关的本金和利息减免不应纳税.
  7. EIDL预付款不再应纳税，也不抵消与PPP贷款相关的宽免.

Below are additional details regarding the bill. 请查看这些信息，并注册参加即将举行的网络研讨会，以获得更多的澄清. 

In the meantime, if you have questions, 您可以联系您的Rea顾问或回复此电子邮件，我们将确保我们的PPP工作组成员看到您的问题.

PPP Forgiveness & Additional Provisions To Be Aware Of:

  1. Forgiveness related expenses are deductible
    1. 这一规定还澄清，借款人资产的计税基础和其他属性不会因贷款减免而减少. The provision is effective as of the date of enactment of the CARES Act. The provision provides similar treatment for Second Draw PPP loans，适用于本规定颁布之日后结束的纳税年度.
  2. Simplified Forgiveness Application (so-called “Automatic Forgiveness”)
    1. For loans under $150,000:
      1. Sign and submit a certification that is one page in length, which includes:
        1. 借款人因担保贷款而能够保留的员工数量;
        2. the estimated total amount of the loan spent on payroll costs, and
        3. the total loan amount.
      2. Attest that complied with Paycheck Protection Program loan requirements.
    2. Applies to loans made before, on, or after the date of enactment, including the forgiveness of the loan.
  3. Second Draw Loans (PPP2)
    1. For harder-hit businesses
    2. New applications should be available within about a week. 合资格的客户应立即与贷款机构商讨二次抽取贷款事宜. SD Loans are expected to be funded starting in January.
    3. Maximum SD loan amount of $2 million. Borrowers may receive an SD loan amount of up to 2.5X the average monthly payroll costs in 2019. Entities in the Accommodation and Food Services industries may receive loans of up to 3.5X average monthly payroll costs.
    4. Borrower employs not more than 300 employees;
    5. Have used or will use the full amount of their first PPP loan; and
    6. 与2019年同一季度相比，借款人在2020年任何一个日历季度的总收入至少减少了25%.
    7. 拥有多个地点的企业是符合初始PPP要求的实体，每个实体地点的雇员不得超过300人.
    8. May only receive one PPP second draw loan.
    9. Loan forgiveness.
      1. Additional eligible expenses:
        1. Covered operations expenditures. 支付任何软件、云计算以及其他人力资源和会计需求.
        2. Covered property damage costs. 2020年期间发生的公共骚乱造成的财产损失相关费用不在保险范围内.
        3. Covered supplier costs. Expenditures to a supplier pursuant to a contract, purchase order, 或在贷款发生时，对受助人的业务至关重要的，在取出贷款之前有效的货物订单. 易腐货物的供应商成本可以在贷款之前或期间计算.
        4. Covered worker protection expenditure. 个人防护装备和适应性投资，以帮助贷款接受者在3月1日期间遵守联邦健康和安全指南或与COVID-19相关的任何同等州和地方指南, 2020, and the end of the national emergency declaration.
        5. These additional expenses apply to original PPP loans also.
      2. 60/40 cost allocation between payroll and non-payroll costs
      3. Same covered period (between 8 and 24 weeks)
      4. 澄清雇主提供的其他团体保险福利包括在工资成本中. This includes group life, disability, vision, or dental insurance.
      5. Applies to loans made before, on, or after the date of enactment, including the forgiveness of the loan.
  4. 最初通过PPP贷款的企业现在可以使用相同的标准申请
    1. 偿还全部或部分初始PPP贷款的企业，可以按照相同的标准重新申请偿还的金额.
    2. Farmers and ranchers who operate as a sole proprietor, independent contractor, self-employed individual, who report income and expenses on a Schedule F, and were in business as of February 15, 2020, may utilize their gross income in 2019 as reported on a Schedule F. 贷款人可能会重新计算以前批准给这些实体的贷款，如果它们会导致更大的贷款.
  5. 501(c)(6)和目的地营销组织现在有资格获得PPP贷款，如果:
    1. 该组织从游说中获得的收入不超过15%;
    2. 游说活动不超过活动的15%;
    3. The cost of lobbying activities of the organization did not exceed $1,000,000 during the most recent tax year that ended prior to February 15, 2020, and
    4. The organization has 300 or fewer employees.
  6. Extension of the SBA debt relief program
    1. Subsidizes payment of principal and interest (P&I) on small business loans guaranteed by the SBA under the 7(a), 504 and microloan programs, established under the CARES Act.
    2. All borrowers with qualifying SBA loans prior to the CARES Act will receive an additional three months of P&I, starting in February 2021. 今后，每个借款人每月的还款上限为9000美元.
    3. After the three-month period described above, 被认为服务不足的借款人——即受疫情影响最小或最严重的借款人——将额外获得5个月的P&I payments, also capped at $9,000 per borrower per month. They include food service and accommodation; arts, entertainment and recreation; education; and laundry and personal care services.
    4. Gross income does not include forgiveness of these loans. 该法案还澄清，允许扣除本节未包括在收入中的金额支付的其他可扣除费用, 而且，由于这些金额被排除在总收入之外，计税基础和其他属性不会减少.
  7. Emergency EIDL Grants
    1. 购买力平价借款人不得再从其购买力平价减免金额中扣除其EIDL预付款.
    2. 署长应颁布规则，确保借款人在获得宽免并从该数额中扣除其实际贷款额时得到完整.
    3. 通过EIDL Advance计划，为低收入社区的合格实体提供额外的定向资金.
    4. 使收到EIDL预付款的低收入社区的实体有资格获得相当于该实体根据《安全的赌博软件》收到的金额与10美元的差额的金额,000.
    5. Provides $10,向低收入社区的合格申请人提供1万笔赠款，这些申请人由于资金耗尽而没有获得赠款.
    6. Gross income does not include forgiveness of emergency EIDL grants. 该法案还澄清，允许扣除本节未包括在收入中的金额支付的其他可扣除费用, 而且，由于这些金额被排除在总收入之外，计税基础和其他属性不会减少.

For more information about the PPP, reach out to your Rea advisor or contact us to be directed to a member of our PPP Task Force.