Get Your PPP!!
Get your PPP!!
Although the deadline to start accepting Payroll Protection Program applications was Friday, April 3rd it seems most banks did not actually start until this past Monday. For 1099 Contractors applications are scheduled to start this Friday, April 10th. From what we have seen must have documents are:
- 2019 – 940 Annual Payroll Tax Return
- 2019 – 944 Annual Payroll Tax Return
- 2019 – 941 Quarter 1 & 2020 – 941 Quarter 1
- Payroll Summary Report to include dates 01/01/2020 to 02/15/2020 or closest date after 02/15/2020
- Independent contractors and sole proprietors will need their 2019 – 1099’s and 2019 – 1040
You should contact the bank you already have an established relationship with so you can apply directly with them. They will ask for your company’s business name, address, date established, and tax identification number among other basic questions. However, REMEMBER, all these programs are being rolled out in a very fluid manner and your bank is understanding their process as they go in order to meet the PPP deadlines.
At NaviPay we are providing all documentation needed for our clients and trying to help as much as possible to make sure our clients have everything they need to so they are as far up in line as possible. The PPP program is first come first serve once approved, so time is of the essence in the process. If you are not a NaviPay client we are still more than happy to help you as much as we can but hope to call you a client soon. If you have any questions please feel free to Click Here and Contact US!