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Tag: Robert M. Russell

SBA Issues Important New PPP Forgiveness Guidance – Owner Compensation And Nonpayroll Expenses, Including Related-Party Rentals

On August 24, 2020, the U.S. Small Business Administration (“SBA”) issued an interim final rule (“IFR”) with important guidance on previously unanswered questions about certain Paycheck Protection Program (“PPP”) loan expenses eligible for forgiveness.  After months of silence from the SBA, the IFR, titled Treatment of Owners and Forgiveness of Certain