On Tuesday, August 4, the U.S. Treasury and Small Business Administration released additional FAQs related to the Paycheck Protection Program (PPP) forgiveness process. The new FAQs primarily address transportation costs, mortgage interest and employer health and retirement contributions, among other clarifications. View the full FAQ document here: https://home.treasury.gov/system/files/136/PPP–Loan-Forgiveness-FAQs.pdf
RKL Partner Ryan Hurst reviewed the 10-page FAQ document and taped a video to walk recipients through the major issues resolved and what big unknowns remain, as well as other notable PPP updates. Contact your RKL advisor (https://www.rklcpa.com/about/firm-leadership/) with specific questions around applicability to your organization’s PPP loan.
Find more guidance and insights in our Business Recovery Resource Center: https://www.rklcpa.com/business-recovery-resource-center/