Yesterday, the U.S. Small Business Administration (SBA) and the Department of the Treasury released a document outlining how Paycheck Protection Program (PPP) borrowers should calculate revenue reduction and maximum loan amounts for second-draw PPP loans. The guidance also lists the documents borrowers must provide to support each set of calculation.
See the Journal of Accountancy article, PPP calculations guidance released, for more information and details regarding documentation requirements.
If you have any questions, contact your accountant, and remember to follow us on LinkedIn to stay up to date on all of our posts.
If you have any questions, contact your accountant, and remember to follow us on LinkedIn to stay up to date on all of our posts.
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