Online Job Junction 2019 Ppp Forgiveness Application Line 8

Instructions for ppp schedule a.

Job skills for administrative assistant absentee ballot application new york city. Borrowers will receive a unique invitation to the ppp loan forgiveness portal when a minimum of 8 weeks has passed from loan disbursement. Modified total multiply line 6 by line 7. Loan forgiveness application revised june 16 2020 expiration date.

Thats the end of the calculation. With the release of the new ppp loan forgiveness applications and the passage of the ppp flexibility act the sba continues to include new guidance on how loan forgiveness works and on ppp loans in generalheres whats new. The paycheck protection program ppp loan forgiveness applications must be completed online by the authorized signor on the original ppp loan application.

Sba form 3508 0620 page 1. 8 things to know about ppp loan forgiveness if youre considering applying for a ppp loan or youve received one its critical to make sure you qualify for as much forgiveness as possible. Owners can be paid up to eight weeks worth 852 of.

Lines 1 through 5. For an 8 week covered period this amount is capped at 852 of 2019 compensation up to 15385. Enter the amount from line 3 of ppp schedule a on line 5 of the loan forgiveness application form.

Forgiveness amount enter the smallest of lines 8 9 and 10. Originally the forgiveness window was eight weeks but under the ppp flexibility act the forgiveness window is. The updated ppp loan forgiveness application and instructions can be.

Filling out the ppp forgiveness application form 3508ez. Extension of the forgiveness period. Below is the information that will be required to be submitted with the forgiveness application.

As stated on line 31 of the borrowers 2019 form 1040 schedule c. Forgiveness amount line 11. Forgiveness amount enter the smallest of lines 5 6 and 7.

But theres one more thing youll need to be aware of.