The “Paycheck Protection Program Flexibility Act of 2020” was signed into law on June 5, 2020. This seminar, co-presented on June 11, 2020, by Steven Moyer, CPA, PFS, CGMA, CSEP – Owner and Director of Tax Services and Brent Thompson, CPA CMA CGMA – Director and Manager, provides more information on how the law affects your PPP loan forgiveness, including these key provisions:
- Changing the 8-week covered period to 24 weeks
- Changing the payroll ratio test from 75/25 to 60/40
- Providing a longer time to restore your full-time equivalents
- Providing new relief for businesses that can not open due to a government order
If you have any questions, please contact us online or via phone at 215-723-4881. We will continue to issues these updates as information becomes available.