SBA PPP forgiveness FAQs issued 8/4/20

Technical topics regarding tax preparation.
#1
Joan TB  
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Here is a link to the latest FAQs from the SBA regarding PPP loan forgiveness.
https://www.sba.gov/sites/default/files/2020-08/PPP%20Loan%20Forgiveness%20FAQs%208-4-20-508.pdf

Personally, I am not going to rush into the forgiveness application process. Who knows what Congress may do about "blanket forgiveness" for smaller taxpayers.....
 

#2
JR1  
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A bill has been introduced claiming bipartisan support (what is that??) to do a one page attestation for PPP's under 150k! So keep waiting.
Go Blackhawks! Go Pack Go!
Remembering our son, Ben Jan 22, 1992 to Aug 26, 2011.
For FB'ers: https://www.facebook.com/groups/BenRoberts/
 

#3
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I need to print this out so I can read it later. But it's interesting that the very first question addresses what SP's, independent contractors and people with no employees are supposed to do about applying for forgiveness. Usually you need to delve down to page 8 of the 10 pages to find something remotely connected.
 


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