On Monday, the Small Business Administration (SBA) and Treasury issued an interim rule relating to Paycheck Protection Program (PPP) forgiveness issues. The purpose of this interim final rule is to provide additional guidance concerning the ownership percentage that triggers the applicability of the owner-employee compensation rule for forgiveness purposes and limitations on the eligibility of certain non-payroll costs for forgiveness including transactions with tenants or sub-tenants and rent payments to a related party.

Here is thelinkto this interim final rule.

For more information about all COVID-19 tax and business matters, visit http://www.isdanerllc.com/covid-19-tax-business-implications/