The American Institute of CPAs (AICPA) released recommendations on the appropriate documents and calculations that small businesses should use to qualify for loan forgiveness under the CARES Act’s Paycheck Protection Program (PPP).
“Loan forgiveness is a key element of the Paycheck Protection Program, and the steps for qualification should be simple, straightforward and designed to help small businesses succeed,” said Mark Koziel, the AICPA’s executive vice president for firm services.
Read on for details of the group’s recommendations.