PPP Loan Forgiveness FAQs
The SBA & Treasury released additional guidance: Frequently Asked Questions For Loan Forgiveness. Many of the 10 pages of questions and answers relate to timing issues for expenses and interpreting what counts as payroll and nonpayroll expenses. The new FAQs appear to repeat past guidance about reductions to loan forgiveness, as when borrowers are not able to rehire qualified staff and provide new examples regarding pay reductions. See the loan application and instructions for additional information.