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AICPA Releases Revised PPP Loan Forgiveness Calculator
The Loan Forgiveness Calculator, updated as of June 24, 2020, uses available guidance from the Small Business Administration and Treasury, along with interpretations of that guidance (see notes throughout) to…
New PPP Loan Forgiveness Applications Released with PP Flexibility Act of 2020
The U.S. Small Business Administration (SBA), in consultation with Treasury, released a revised loan forgiveness application for the Paycheck Protection Program (PPP). The SBA also unveiled a new EZ application…
AICPA Issues Guidance: Accounting for Forgivable PPP Loans
A nongovernmental entity may account for a Paycheck Protection Program (PPP) loan as a financial liability in accordance with FASB ASC Topic 470, Debt, or under other models, if certain…
PPP – Revisions to Loan Forgiveness Interim Final Rule and SBA Loan Review Procedures – Interim Final Rule
Treasury Release HERE to update for revisions to PPP Loan Review and Forgiveness processes by SBA.
PPP FAQ’s Updated by SBA 6/25/20
Updated FAQ’s for Borrowers and Lenders as of 6/25/20, including clarity on new payroll period change (#20) and loan maturity (#49) HERE.
PPP Loans End 6/30/20 – Apply ASAP
Urgent reminder! The deadline for SBA to approve Paycheck Protection Program (PPP) loan applications is Tuesday, June 30. This loan program provides loan forgiveness for retaining employees by temporarily expanding…
AICPA Releases PPP Loan Forgiveness Calculator
On May 20, 2020, the AICPA has offered an initial version of a PPP Loan Forgiveness Calculator, to be used to support calculations for the PPP Loan Forgiveness Application. Please…
PPP Loan Forgiveness Steps For Employers
As of May 12, 2020, AICPA has prepared a step-by-step guide for employers to maximize loan forgiveness at the end of the 8 week covered period. Access the guide HERE.