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The Paycheck Protection Program allows entities to apply for low-interest private loans to pay for payroll and certain other costs. A PPP loan amount is approximately equal to 2.5 times the applicant's average monthly payroll costs.
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Releases included customizable payroll reports, a simplified Paycheck Protection Program (PPP) Loan Forgiveness tracker and a streamlined PPP application report that’s been downloaded more than 80,000 times to date. Nationwide, Gusto enabled more than $2.5 billion worth of approved PPP loans.
Together, Dodge and his wife and co-conspirator, Tammy Dodge, attempted to obtain $2.5 million in COVID-19 relief funds by setting up fake businesses to obtain money from the Paycheck Protection ...
Tax debt relief is a way the government helps you when you can’t afford to pay your tax bill. This comes in the form of a payment plan or a settlement in which the IRS agrees to settle your...
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.
The job cuts would mean at least 32,000 layoffs throughout the industry without federal payroll stimulus help, airlines say.
In addition, Ellis admitted to obtaining nearly $300,000 in PPP funds and other relief aid in connection with an entity she lied about owning, according to authorities.
The tax is paid by employers based on the total remuneration (salary and benefits) paid to all employees, at a standard rate of 14% (though, under certain circumstances, can be as low as 4.75%). Employers are allowed to deduct a small percentage of an employee's pay (around 4%). [7] Another tax, social insurance, is withheld by the employer.
The American Taxpayer Relief Act of 2012 (ATRA) was enacted and passed by the United States Congress on January 1, 2013, and was signed into law by US President Barack Obama the next day. ATRA gave permanence to the lower rates of much of the "Bush tax cuts".