Paycheck Protection Program Flexibility Act of 2020

Law Financial services Law

Date: 23rd Nov, 2024 Source: Congress.gov Country: USA Original Source

Brief

The Paycheck Protection Program Flexibility Act of 2020 was enacted on June 5, 2020. This law amends provisions related to loan forgiveness under the Paycheck Protection Program (PPP), allowing recipients to defer payroll taxes and modifying terms for PPP loans. The law extends the covered period for loan forgiveness from June 30, 2020, to December 31, 2020, and reduces the percentage of loan amount that must be used for payroll costs from 75% to 60%.

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Paycheck Protection Program Flexibility Act of 2020

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Paycheck Protection Program Flexibility Act of 2020

Brief

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