Here to Help with PPP Loan Forgiveness

For those that received a Paycheck Protection Program (PPP) loan, the time is rapidly approaching to apply for “forgiveness.” We are available to guide and assist you with the process. Ways in which we can assist you include:

  • Assembling your draft application for submission to your Small Business Administration (SBA) approved lender
  • Assisting with collection and organization of documentation required to be submitted or retained in connection with the submission of your application
  • Assistance with inquiries, reviews, or audits of your PPP loan
  • Determining if you qualify for use of the new EZ PPP Loan Forgiveness Application
  • Determining whether use of the new 24 week forgiveness period is preferential over the original 8 week “covered period”
  • Availability of new safe harbors for excluding wage reductions and reduction in the number of FTEs
  • Maximizing benefits associated with the reduction in required payroll costs to 60%
  • Calculating FTEs and payroll reductions
  • If you file a Schedule C, assistance relative to how owner compensation replacement is calculated
If you have questions on PPP loan forgiveness or if you would like assistance in completing the PPP Loan Forgiveness Application, we have a team ready to assist you. If assistance is desired, please contact your ACT representative or email us at  info@actcpas.com .