PPP Loan Forgiveness Updated FAQs – August 7 COVID-19 Update
The Small Business Administration (SBA) and Department of Treasury released an updated Paycheck Protection Program (PPP) Loan Forgiveness FAQ with detailed instructions on Tuesday, August 4, 2020 as the COVID-19 pandemic continues.
The FAQs cover:
- General loan forgiveness
- Payroll costs
- Nonpayroll costs
- Reductions
Future legislation may impact this and other PPP-related guidance. We will continue to monitor possible updates, promptly advising you should the current documents be revised or amended.
If you have questions about PPP-related matters, please connect with your PKF Texas Business Advisory team members.
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Additionally, we are keeping PKFTexas.com/COVID-19 up-to-date with information and resources to assist you as we all navigate these quickly-changing times.