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.

hands typing on a laptop; image used for a COVID-19 update about the Paycheck Protection Program (PPP) Loan Forgiveness Application

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 Entrepreneurial Advisory Services team members.

Byron Hebert, CPA, CTP
Practice Leader/Director, EAS
BHebert@PKFTexas.com
(713) 860-1455

Sam Razmandi, CPA
Director, EAS
SRazmandi@PKFTexas.com
(713) 860-5442

Matt Goldston, CPA, CVA, CM&AA
Director, EAS
MGoldston@PKFTexas.com
(713) 860-5439

Danielle Supkis Cheek, CPA, CFE, CVA
Director, EAS
DCheek@PKFTexas.com
(713) 860-5422

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.