In case it's helpful, here are the 'rumors' I've heard about what may be coming
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| This week auto workers got back to work in Detroit. |
down the pike from Washington D.C. in terms of the Paycheck Protection Program (PPP).
- Next week, May 28th, the Treasury is expected to issue more guidance on rules related to PPP forgiveness.
- No new funding for the PPP program is expected right now. Once the current amount is gone, it's gone.
- Personal protective equipment (PPE) may become a deductible expense for tax purposes for businesses.
- The PPP forgiveness amount will hopefully soon be confirmed by Treasury as tax free.
- SBA might extend the 8 week covered period into a 16 or 24 week period. They are taking into consideration how businesses may have a hard time bringing back all of their employees if there are still governor's executive orders keeping them closed.
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