Tax Resolution Attorney John P. Willis Writes About The Launch Of The Second Payroll Protection Program For Small Businesses.
Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR helps business owners breathe a sigh of relief as he reviews some of the details of the newly launched second round of the Payroll Protection Program.
Fairhope, AL, January 28, 2021: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published a new article on his website entitled “The New Year Brings Renewed Hope For Small Businesses With Second PPP Program.” Mr. Willis encourages business owners to apply for the PPP without delay.
Willis states, “Some small businesses were able to stay alive only because of the initial Payroll Protection Program launched by the Small Business Association and Treasury Department last year.” He continues, “However, despite receiving a PPP loan, some businesses were not able to make it.” He further states, “Many businesses are still hanging on, some through sheer determination. And now, fortunately, there is relief in sight once more as the Small Business Administration and the Treasury Department have relaunched a second Paycheck Protection Program.”
“According to a January 11th article posted at AccountingToday.com,” writes Willis, “The program, funded with $284.5 billion thanks to the latest stimulus package passed by Congress late last month, opened Monday to so-called “first draw” PPP loans for those small businesses who didn’t take advantage of the program last year. “Second draw” PPP loans will be available starting Wednesday. Initially only community financial institutions will be able to make the first-draw and second-draw loans, but the SBA and the Treasury said Friday that the program would be open to other lenders shortly thereafter.” https://www.accountingtoday.com/news/sba-and-treasury-reopen-paycheck-protection-program?position=editorial_1&campaignname=ACT_Daily_Daily-01122021&utm_source=newsletter&utm_medium=email&utm_campaign=ACT_Daily_Daily%2B%27-%27%2B01122021&bt_ee=ZyoZ0QJg89uoVT%2Bad3tdIFC93a30OQrkiaPtf9jGirFJReCC87bGPKuKTQdQb4sB&bt_ts=1610449290313
As Willis points out, “Initially there were some expenses that were not allowed under the original PPP program. However many of those restrictions were reversed, which I wrote about in this month’s blog and is great news for business owners this tax season. (see: No Deduction Denied)”
Willis includes the updates in his article along with details of set aside funds specifically for small businesses in low- and moderate-income communities.
The entire article can be read at: http://www.irsallstar.com/articles/the-new-year-brings-renewed-hope-for-small-businesses-with-second-ppp-program.php
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 21 years and, he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed, and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities. The entire blog can be found at http://www.irsallstar.com/blog/irs-tax-controversy-even-death-cant-stop-the-irs.php
To learn more about Mr. Willis and his law firm please visit http://www.IRSALLSTAR.com or call toll-free 877-254-4254.