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The Paycheck Protection Program ( PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self-employed workers, sole proprietors, certain nonprofit organizations, and tribal businesses continue paying their workers.
The CARES Act created the $349-billion Paycheck Protection Program, which provided low-interest loans to small businesses that were forgivable if they maintained their employees and payroll.
Gusto, Inc. is a company that provides a cloud-based payroll, benefits, and human resource management software for businesses based in the United States. Gusto handles payments to employees, and contractors and also handles electronically the paperwork necessary to help client companies comply with tax, labor, and immigration laws. [3] Gusto is operational in all 50 US states. [4]
He submitted fake payroll and tax documents to secure loans from private lenders and the Small Business Administration, and pandemic relief grants from the Governor's Office for Emergency Relief ...
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Four Sacramento-area men with ties to a former Internal Revenue Service worker have been sentenced to a federal prison term for their role in a plot to fraudulently obtain more than $3 million in ...
It is an example of the second type of payroll tax, but unlike in other jurisdictions, it is paid directly by employees rather than employers. Unlike the first type of payroll tax as it is applied in Canada, though, there is no basic personal exemption below which employees are not required to pay the tax.
PPP caps payroll costs at $100,000 on an annualized basis per employee.
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