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The Paycheck Protection Program ( PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self-employed workers, sole proprietors, certain nonprofit organizations, and tribal businesses continue paying their workers.
The CARES Act created the $349-billion Paycheck Protection Program, which provided low-interest loans to small businesses that were forgivable if they maintained their employees and payroll.
He submitted fake payroll and tax documents to secure loans from private lenders and the Small Business Administration, and pandemic relief grants from the Governor's Office for Emergency Relief ...
American Taxpayer Relief Act of 2012. An act to extend certain tax relief provisions enacted in 2001 and 2003, and to provide for expedited consideration of a bill providing for comprehensive tax reform, and for other purposes. The American Taxpayer Relief Act of 2012 ( ATRA) was enacted and passed by the United States Congress on January 1 ...
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PPP caps payroll costs at $100,000 on an annualized basis per employee.
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