May 6, 2020
If you or your customers have received, or expect to receive, Paycheck Protection Program (PPP) funding, you likely have several questions and concerns:
- What specifically qualifies for loan forgiveness?
- How do you account for the proceeds and the loan forgiveness?
- When can you apply for loan forgiveness?
On top of that, there are tax considerations for both corporations and pass-through entities surrounding the program, including federal and state tax treatment of forgiveness and rule conformity.