UPDATED 3/4 New rules confirmed for Sch C filers : Certain recent law changes benefit those who have not yet applied for PPP Loan Forgiveness or applied for a new PPP loan.
Changes to the Employee Retention Credit make it retroactively available to more employers but it must be claimed on your 2020 4th quarter payroll tax return and are also available for 2021 wages.
New provisions allow previous Small Business recipients of PPP loans to access additional funds if they meet certain criteria.
A new round of PPP loans launched this week and is available through March 31, 2021. Options exist for both first time borrowers and second draw loans for those who meet the criteria.
California is offering grants through multiple funding rounds for certain California based Small Businesses earning less than 2.5 million in gross receipts.