Paycheck Protection Program – Maybe Next Week
It reminds me of a joke about umpires talking about what constitutes a ball or a strike. The final grizzled old umpire says “Somes I calls ball. Somes I calls strikes. They ain’t nuthin till I calls em.”
Effectively your umpire is going to be the bank using the rule book that the SBA has not yet written.
Paycheck Protection Program – Devilish Details – Some Uncertainty
The Paycheck Protection Program is an extension of the Small Business Administration 7(a) program. SBA needs to make up the exact rules and then the rules have to be implemented by the 1,800 banks that are part of the program. For you to participate you need to contact a bank.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.