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- Small business COVID-19 resource center
- Paycheck Protection Program: Legal & Tax FAQs
FAQ
Paycheck Protection Program
Experts from Practical Law and Checkpoint address the common questions we’re hearing as small businesses and their advisors navigate the new Paycheck Protection Program.
PPP Application and Loan terms
Loan forgiveness application process
Loan forgiveness calculations
Taxes
Last Updated: 8/12/2020
References
- CARES Act, P.L. 116-136, March 27, 2020
- Paycheck Protection Program Flexibility Act, P.L. 116-142, June 5, 2020
- P.L. 116-147, July 5, 2020
- SBA FAQs dated as of June 25, 2020
- SBA FAQs on PPP Loan Forgiveness dated as of August 4, 2020
- Treasury Information Sheet for Borrowers, March 31, 2020
- SBA Procedural Notice, effective July 23, 2020,
- PPP Loan Forgiveness Application Instructions, June 16, 2020
- IRS Notice 2020-32
- IRS COVID-19-Related Employee Retention Credits: Interaction with Other Credit and Relief Provisions FAQs dated as of May 27, 2020
Additional resources
This page was created by Thomson Reuters legal and tax experts to assist your small business. For further in-depth coverage, access free COVID materials via the following Thomson Reuters platforms.

Practical Law Global Coronavirus Toolkit
A trusted resource leveraged by legal professionals and corporate counsel, Practical Law offers free access to content specific to navigating COVID-19 and business interruptions.

Checkpoint Edge COVID-19 folder
Leveraged by tax and accounting professionals, Checkpoint Edge offers free trial access to a COVID-19 folder that includes support, service, training and video tutorials.