- General loan forgiveness – provides some detail around the forgiveness application and process;
- Payroll costs – answers and provides some examples in determining and calculating those payroll costs and time periods includable in the payroll costs eligible for forgiveness;
- Non-payroll costs -answers and provides some examples in determining and calculating other forgiveness-eligible operating costs for PPP loan proceeds not required to be used for payroll expenses; and
- Loan forgiveness reductions – provides illustrations of how the amount of PPP loan proceeds eligible for forgiveness may be reduced when employee headcount or employees’ salaries or hourly wages decline during the applicable calculation period.
Partridge Snow & Hahn’s COVID-19 Advisory Group is ready to answer questions regarding PPP loan forgiveness and the newly released FAQs. For additional information and resources visit the firm’s COVID-19 Advisory Group page.