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We Accepted Our PPP Funds, Now Exactly What? An Updated Guide to Loan Forgiveness September 3, 2020

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We Accepted Our PPP Funds, Now Exactly What? An Updated Guide to Loan Forgiveness

The average number of FTE employees on payroll per month employed between February 15, 2019 and June 30, 2019; between January 1, 2020 and February 29, 2020; or any consecutive 12-week period between May 1, 2019 and September 15, 2019 in the case of a seasonal employer.

Documents can installment loans for bad credit sometimes include payroll taxation filings (typically Form 941) and state quarterly business and individual worker wage reporting and jobless insurance coverage income tax filings. Papers may protect durations more compared to particular time frame.

Non-Payroll Documentation

Business Mortgage Interest Payments: Copy of this loan provider amortization schedule and receipts or terminated checks confirming qualified re payments through the Covered Period; or loan provider account statements from February 2020 and also the months associated with the Covered Period through 30 days following the end associated with Covered Period verifying interest amounts and qualified payments.

Company lease or Lease re payments: Copy regarding the present lease contract and receipts or terminated checks confirming qualified re payments through the Covered Period; or lessor account statements from February 2020 and through the covered duration through a month following the end of this covered period confirming eligible payments. (more…)

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