For those employers planning to apply for the Paycheck Protection Program: there are new developments related to this program since yesterday. It seems likely that we will hear more today. The most important change is that late yesterday we learned that the federal funding is not yet available to the lending banks so the banks (all that I know) are not ready to accept the applications. As a result, we will reschedule this work that was planned for today for a later date – Monday at the earliest. Meanwhile, over the weekend I expect to take further training in this program and hopefully be able to answer questions about the program and the latest changes.
Today it is more important to focus on urgent issues for those people with interrupted cash flow.
I will broadcast live with updates on this issue from https://www.facebook.com/TonyNovakCPA at 10:00 AM eastern time. Updates and action lists are posted on the blog page at www.tonynovak.com.
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