Tax Facts

8559 / What are the paycheck protection loans and economic injury disaster loans for small business owners?

The CARES Act provided opportunities for small business owners to get direct cash loans to keep their businesses afloat—even without a formal, documented showing of financial loss at the outset, which is being presumed under the new law. Small businesses taking out loan assistance should be prepared to provide documentation in order to obtain loan forgiveness under the payroll protection...

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