SBA PPP Loan Forgiveness Application: What Small Business Owners Need to Know (Currently Unavailable)
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC |
The SBA released the official PPP Loan Forgiveness Application on May 15, 2020. With the onset of the COVID-19 virus and the shutdown of the worldwide economy Congress authorized Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program loans. Are you eligible for a PPP loan? Should you apply for the loan? If your company or client received a PPP loan, some or all of the loan amount can be forgiven. Borrows will need to apply for forgiveness and provide documentation to show how the funds were spent. This course will discuss the expenses eligible for forgiveness and the documentation required to document forgivable expense amounts. We will walk through the SBA PPP Loan Forgiveness Application so attendees can familiarize themselves with the requirements.
Publication Date: July 2020
Designed For
CPAs, CFEs, CMA, CIAs, CFFs, MAFF, CGMAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.
Topics Covered
- Review of the Paycheck Protection Program
- EZ PPP Forgiveness Application: Updated 6/16/2020
- PPP Forgiveness Application: Updated 6/16/2020
Learning Objectives
- Identify the requirements for the PPP loan forgiveness
- Identify how to complete the PPP Loan Forgiveness Application
- Recognize eligible expenses that can be paid by PPP loan funds
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of individual and business clients.
Advance Preparation
None
