dsocpa wrote: Then the law was changed to 24 weeks. I took numerous webinars regarding PPP calculation and forgiveness, read the SBA IFR’s and still was unsure. Anyway, with the $100k cap ($20,833) + HI and matching the total came to ~ $1k over the PPP loan balance. The bank eventually accepted that figure as amount spent on payroll but not until every bank statement for 2020 and all HI invoices for paid in 2020 were provided. In addition the amounts deducted from the business account had to match the bank statement. Same with matching contributions made in 2020 for 2020. Fortunately, being unsure regarding the HI and Match and salary when computing the PPP-2 loan amount the match and HI were not included even though now I know, PNC at least will allow those to be added to the cap, of 20,833. Forgiveness for PPP2 was approved without any questions from the bank or documents provided - not even the payroll register.
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