The Small Business Administration (SBA) has announced a new interim final ruling discussing Paycheck Protection Program Loan (PPP Loan) forgiveness. More specifically, the ruling addresses the treatment of owners and forgiveness of nonpayroll costs, including rent payments to a related party.
Here are three items discussed in the SBA ruling:
DGC has a proven process that utilizes our sophisticated model and incorporates our data analytics experience and accounting expertise to maximize PPP Loan forgiveness. If you have questions, please contact a member of your DGC client service team or George Shaw, CPA at 781-937-5125 / firstname.lastname@example.org or Kimberley Train, CPA, ABV at 781-937-5112 / email@example.com. You can also visit DGC's coronavirus web page at dgccpa.com/coronavirus which is frequently updated with new resources to help you deal with the financial impact of the coronavirus on you and your business.