The AICPA’s revised PPP Loan Forgiveness calculator is now available (Excel file download).
Late Friday night, the Treasury Department and the SBA issued the PPP loan forgiveness application, which includes guidance on PPP loan forgiveness. The AICPA’s Firm Services/PCPS team has updated the calculator to reflect the information provided in the application. However, the guidance issued does not provide clarity in all of the areas that the profession and the small business funding coalition continues to call for, in efforts to help CPAs assist small businesses. The AICPA released this comment to continue to push Treasury to create clarity and flexibility, including questions surrounding the 8-week loan period.
Want to learn more about the PPP loan forgiveness application? Join us next week with Kurt Oestriecher to:
- Review round two of PPP loan statistics;
- Discuss PPP loan forgiveness issues;
- Analyze the PPP loan forgiveness form and instructions; and
- Discuss documentation requirements needed.