PPP Loans Update

On Friday, June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA). Following is a summary of some of the changes that will impact our clients: You now have 24 weeks. If you received PPP funds, you can choose to extend the 8-week period to 24 weeks, or you can keep the original period if that is a better answer for you. The original rules were that you had to use the funds in the eight-week period from when funds were received. The PPPFA extends the time period to 24 weeks. If you are in the process of receiving funds, you will receive the 24 weeks automatically. Deadline is now December 31st. You can use the 24-week period to restore your wor

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© Copyright 2018, Cornerstone 360. All Rights Reserved

Cornerstone CPA Group, LLC

6420 West 95th Street Suite 202 
Overland Park, Kansas 66212

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Main Phone: 913.381.8350 
Fax: 913.381.7589