Online Job Rev Ppp Forgiveness Application Table 1

10312020 sba form 3508 0520 page 1.

Job resume examples 2020 medicaid application sc. How to complete the ppp loan forgiveness application. Enter the amount from line 3 of ppp schedule a on line 5 of the loan forgiveness application form. Last month it was announced the paycheck protection program ppp loan forgiveness application had received a major overhaul.

Loan forgiveness application expiration date. The calculation form schedule a and the schedule a worksheet. Lines 11 13 calculate the fte reduction quotient.

Enter average fte box 2 from ppp schedule a worksheet table 1. If you have received a paycheck protection program loan you must complete ppp loan forgiveness application if you want your ppp loan to be forgiven. Sba form 3508 is made up of several parts including 1 a loan forgiveness calculation form 2 a ppp schedule a 3 a ppp schedule a worksheet 4 a list of documents and information that must be submitted with the completed application and a list of documents that must be maintained by the borrower for a period of 6 years and 5 a ppp.

Lines 1 through 5. While applying for forgiveness may still seem daunting even with this simper form the ez form requires fewer calculations and less documentation for eligible borrowers. Line 10 totals the payroll costs listed on ppp schedule a with the amount carried to line 1 of the ppp loan forgiveness calculation form.

If you plan to use the paid sick leave refundable credit on your 2020 taxes you cant count paid sick leave or family leave toward ppp forgiveness. The details of that reduction are discussed later in this article. Enter the amounts from ppp schedule a worksheet tables as directed.

Salary and fte reduction calculation tables ppp schedule a worksheet tables 1 and 2. Enter cash compensation box 1 from ppp schedule a worksheet table 1. To apply for forgiveness of your paycheck protection program ppp loan you the borrower must complete this application as.

Loan forgiveness application revised june 16 2020 expiration date. Instructions for ppp schedule a. Loan forgiveness application revised june 16 2020 expiration date.

The updates were required to comply with the changes set forth in the ppp flexibility act of 2020. Prior to passage there was feedback that aspects of the program needed to be changed to avoid confusion and make it easier for borrowers to apply. The application contains three major parts.

The ppp caps forgiveness on salaries commissions wages and tips at 100000 per year per employee.