Program Extension Earlier this week, Congress passed legislation that extends the application for Payroll Protection Program (PPP) Loans until August 8, 2020. So if you were considering applying and had not yet done so, there is approximately $130 Billion still...
The President signed this bill on June 4th, 2020 that modifies some crucial parts to the Payroll Protection Program (PPP) Loan Forgiveness process. Many provisions regarding the usage of your funds have been modified. While we hope that this is the final iteration of...
WELCOME BACK! All of us at Phocus Companies sincerely appreciate your business and hope that you and your family are doing well during these truly unique times we find ourselves in. We are pleased to announce that we will be reopening our office to visitors and...
CONGRESSIONAL ACTION TO ENACT THE PAYCHECK PROTECTION FLEXIBILITY ACT The US Senate unanimously passed the legislation approved by the House that will make changes to the PPP Loan forgiveness rules. Among the highlights are the expansion of the 8-week covered period...
On Saturday the SBA released the application for forgiveness for Payroll Protection Program loans. In addition to providing guidance on the full time equivalents (40 hours versus 30 originally indicated) and what is included in Utilities, another huge change was...
Stimulus Update We have learned that after Wednesday, May 13, 2020, the Internal Revenue Service will no longer accept direct deposit information on their website for filers who have not previously supplied banking information for direct deposit. This means that IF...
