HILL TAX BRIEFING: Accountants Ready for Next Round of PPP Loans

The revival of the Paycheck Protection Program has CPAs bracing for a very busy start to 2021.

The PPP facilitated hundreds of billions of dollars in government-backed small business loans that can be forgiven if used to cover payroll and other eligible business expenses. The most recent pandemic aid legislation included an additional $284 billion for the PPP and allowed certain businesses to apply for a second loan.

Frank Balestreri, consulting partner-in-charge at Sensiba San Filippo LLP, was scheduled to take some time off in late December. Instead, he spent the last week of the year preparing ...