LUTZ BUSINESS INSIGHTS

 

General Guidance on Paycheck Protection Program (ppp) Forgiveness Calculation

This guidance was developed to assist Borrowers with understanding and preparing the calculation of eligible loan forgiveness for their PPP Loan. The Borrower is required to attest to the accuracy of the forgiveness calculation, whereas the Lender is only required to verify that supporting documentation was submitted along with the attestation by the Borrower.

During the course of this loan program, the guidance provided by the Small Business Association (SBA) has been vague, and the following definitions, frequently asked questions (FAQs) and practical advice are intended to be a resource as Borrowers complete the calculation. Note, unless stated otherwise, all discussion points are related to Borrowers that are business entities, not sole proprietors, or independent contractors.

This information, which is subject to revision, is based upon the technical guidance available as of the below updated date. This information is provided for informational purposes only. It should not be construed as legal, business, accounting or tax advice and should not be relied upon as such.

 

Updated 5/5/2020

DOWNLOAD THE PPP CALC GUIDE BELOW

This guidance was developed to assist Borrowers with understanding and preparing the calculation of eligible loan forgiveness for their PPP Loan. The information included in this guide, which is subject to revision, offers insight on:

  • The Basics Of The Paycheck Protection Program
  • Definitions Of Important Terms Related To The Loan
  • Frequently Asked Questions
  • Calculation Tips And Examples
  • Practical Advice From Our Experts

RECENT POSTS

Lutz adds Tyler Hohenstein as Senior Accountant

Lutz adds Tyler Hohenstein as Senior Accountant

  LUTZ BUSINESS INSIGHTS  Lutz adds Tyler Hohenstein as Senior Accountant Lutz, a Nebraska-based business solutions firm, welcomes Tyler Hohenstein to its Grand Island office. Tyler joins Lutz’s tax department as a Senior Accountant. He is responsible for providing...

read more

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

115 Canopy Street, Suite 200

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850