Bloomberg Tax
April 10, 2020, 8:46 AM

CPAs Mobilize to Save Small Clients, Protect Their Firms

Amanda Iacone
Amanda Iacone

Panicked, small-business owners started calling Drucker & Scaccetti’s public accounting offices in Philadelphia nonstop last week.

Owners didn’t want to miss a chance to borrow some much-needed cash to cover rent and payroll for the next eight weeks—especially if the low-interest loan eventually would be repaid by the federal government. But they had questions, and little guidance to help them in their urgent rush to start submitting applications for the Payroll Protection Program, $349 billion in small business loans created in the latest virus relief package (Public Law 116-136).

“It’s so ...

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