In a new press release, the AICPA called on Congress to extend the application period for the Paycheck Protection Program (PPP) by at least 60 days.
The deadline is currently March 31, but many applicants are still running into problems with the U.S. Small Business Administration’s PPP processing platform, which has refused to accept some applications due to system problems and has delayed thousands of other applications in validation checks.
“The PPP process issues are many,” Barry Melancon, AICPA president and CEO, said in the press release sent March 2. “It is well documented that small businesses, nonprofits and the CPAs who advise them are experiencing error codes when submitting a PPP loan application. We continue to provide input to the [SBA] about these problems and are hopeful more progress will be made soon.”