IRS Plans on Moving Tax Deadline from April 15th to May 15th; SBA Announces That EIDL Loan Repayments Will Be Delayed Until 2022; PPP Application Deadline Moved to May 31!

A number of pretty big announcements from the IRS and SBA:

1. IRS Plans on Moving Tax Deadline from April 15th to May 15th [More Info Here from Bloomberg]

2. SBA Announced that EIDL Loan Repayments will be delayed until 2022

  • For all SBA disaster loans made in 2020, the first payment due date is 24 months, extended from 12 months, from the date of the note.
  • For all SBA disaster loans made in 2021, the first payment due date is 18 months, extended from 12 months, from the date of the note.
    • More info about this EIDL announcement here

3. The 2nd round of Payment Protection Program was suppose to expire March 31st. But the House passed a PPP deadline extension to move it to May 31st. The bill will likely easily pass the Senate as well. More info about this extension here

4. Many people have already started receiving the Third Stimulus Payment. Click here to check when your payment is supposed to arrive. [Click on My PaymentOK → Then Enter the requested information just like its listed on your tax return

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