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Maximizing relief funds through PPP loan forgiveness

by The 100 Companies
PPP forgiveness

In the wake of the coronavirus pandemic, many PR firms have maximized government relief funds through the Paycheck Protection Program (PPP).

The SBA and Treasury have continuously released guidance on the loan forgiveness program that permits PPP loans to be converted into grant funds. Most recently, the SBA posted a revised loan forgiveness application (Form 3508) and EZ version (Form 3508EZ). The EZ form requires fewer calculations and documentation for eligible borrowers. The Interim Final Rules have been updated clarifying the qualifications for forgiveness of PPP loans.

We encourage you to consult with your trusted advisors on PPP and loan forgiveness.

– Mike Belfer, CPA, CGMA, MST/Partner, Leader of the Public Relations and Advertising Group & Martin Arking, CPA/Tax Leader, Anchin, Block & Anchin LLP

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