The revamped COVID-19 relief program also allows some companies to apply for a second draw of up to $2 million.
PPP borrowers will also be able to deduct expenses paid for with their loans, reversing an earlier IRS decision.
The CEO of Berkshire Hathaway said the country owes it to millions of small businesses to renew the Paycheck Protection Program.
A questionnaire asking borrowers to justify their $2 million-plus Paycheck Protection Program loans is confusing and burdensome, says the AICPA.
The decision was a victory for media organizations that sued the SBA for access to data about roughly $600 billion in COVID-19 loans to small businesses.
The defendants allegedly tried to steal a total of $175 million from the program, which some had feared would be a magnet for fraud.
Finance executives are more optimistic about the domestic economy, but they expect a slow recovery.
More than 100 executives said small businesses need "much more significant and sustained support" than the PPP to weather the COVID-19 pandemic.
Under proposed legislation, smaller businesses would be targeted, and they would have to show a 50% revenue drop.
The GAO says "minimal" underwriting standards left the $670 billion small business rescue program vulnerable to fraud.
Finance will have to make some judgments when trying to present a normalized view of ongoing financial performance.
“Congress must once again act urgently to support our most vulnerable small businesses through this crisis."
