By the time this is over, there’s one letter small business owners may never want to see again: P.
The Paycheck Protection Program, or PPP for short, was initially passed under the CARES Act as a way to help business owners keep employees on the payroll, as well as to help cover rent while the economy was shut down. But today it’s become a bureaucratic game of Clue that has left many of my own clients, and likely countless other small-business owners across the country, throwing their hands in the air and wondering if it isn’t better to simply give the money back.
Perhaps they should rename it PPPSD — Paycheck Protection Program Stress Disorder.
Rules are constantly changing, the IRS and Congress are clashing over what’s next, and rumors and speculation about whether PPP will be extended,