The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 when President Joe Biden signed the extension into law on Tuesday, March 30.
The U.S. Senate voted 92-7 to approve the PPP Extension Act of 2021 a week prior, sending the legislation to the president for his signature.
The AICPA praised the passage of the PPP Extension Act, which extends the filing deadline for PPP applications by 60 days and provides an additional 30 days for the SBA to finish processing applications received by May 31. Read more.