May 2020 - Whitley Penn

The collection of previous press releases from Whitley Penn.

Emily Landry, CPA Named to 2020 TXCPA Rising Star

Fort Worth (May 29, 2020) – Emily Landry, CPA, Tax Manager in the Fort Worth office, was named as an honoree for the 2020 Texas Society of Certified Accountants (TXCPA) Rising Stars.  These CPA members are 40-years-old or younger and have demonstrated exemplary leadership skills and active involvement in TXCPA, the accounting profession and their communities.

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Ailene Comple-Makalintal Earns Advanced Single Audit Certificate from the AICPA

Houston, TX (May 20, 2020) – Ailene Comple-Makalintal, an Audit Manager in Whitley Penn’s Public Sector group, has earned the Advanced Single Audit Certificate from the American Institute of CPAs (AICPA). Comple-Makalintal has more than eight years of audit public accounting experience working with clients in the following industries: school districts, institutions of higher education, non-profit organizations,

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May 18, 2020 – SBA Releases Application for PPP Loan Forgiveness

May 18, 2020 – The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act established the Paycheck Protection Program (“PPP”) that provides funding for small businesses financially impacted by the COVID-19 pandemic. Loans made under the PPP are eligible for forgiveness if the proceeds are used for qualifying expenses in the eight-week period beginning on the loan

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May 14, 2020 – SBA Issues Additional Guidance Regarding PPP Loan Certifications

May 14, 2020 – The SBA previously issued guidance as part of its Paycheck Protection Program (“PPP”) FAQs clarifying the requirement that loan applicants provide a good-faith certification that the loan was necessary because they were adversely affected by the coronavirus pandemic. (See the Whitley Penn Tax Alert Additional Scrutiny for Certain PPP Loan Borrowers dated April 30, 2020).

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Robert Allen Appointed to AICPA Forensic and Valuation Services (FVS) Committees

Fort Worth, TX (May 12, 2020) – Whitley Penn Forensic Litigation, and Valuation Services Managing Director Robert Allen has been appointed to the AICPA’s (American Institute of Certified Public Accountants) Forensic and Valuation Services (FVS) – Business Valuation Committee for 2020-2021. Allen has more than 18 years of financial advisory and valuation experience.  His areas

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May 1, 2020 – Deductibility of Expenses Funded with PPP Loan Proceeds

The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act established the Paycheck Protection Program (“PPP”) that provided loan funding for qualifying small businesses. Under the CARES Act, the proceeds received by a borrower from a PPP loan may be forgiven if the borrower uses the proceeds to pay specified expenses (including payroll costs, interest on qualified

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