Journal of Accountancy Podcasts

Accountants played a crucial role in helping millions of organizations, most of them small businesses, receive $525 billion in Paycheck Protection Program loans last year. Now, the PPP is back and businesses will again be looking to CPAs for advice and assistance in accessing the program, which provides forgivable loans that borrowers can use for payroll and other essential expenses as the COVID-19 pandemic continues to roil the economy. What do CPAs need to know about the new PPP? How is it different from the program that ran for five months before its loan application window closed in August? And what should accountants be doing to help businesses access the $284 billion available in the PPP’s second iteration? Those topics and more are addressed by Erik Asgeirsson, president and CEO of the AICPA’s business subsidiary CPA.com, and Lisa Simpson, CPA, CGMA, the AICPA’s vice president–Firm Services. What you’ll learn from this episode: When lenders can start submitting PPP loan applications to the U.S. Small