MPL General Counsel Corner – PPP Forgiveness FAQ released; Another Stimulus Bill On the Horizon?

Last night, the Department of Treasury issued the first (likely of many) FAQ on PPP forgiveness.  A good overview was provided by Alan Gassman at Forbes.com.  Check out the chart at the bottom of the article for a quick reference guide.

For those that are starting the forgiveness process, below are links to the applications and instructions:

• Loan Forgiveness Application Form
• Loan Forgiveness Application Form (Instructions)
• EZ Form – Loan Forgiveness Application
• EZ Form – Loan Forgiveness Application (Instructions)

With the constantly changing landscape, I think it is wise to do your research and talk to your professional advisors and mentors.  A few helpful coronavirus resource pages, which contain helpful forgiveness tools, are listed below:

• US Chamber of Commerce Resource Page
• NFIB
• AICPA
• RKL CPA
• Stambaugh Ness CPA
• EisnerAmper CPA

• What’s the Next Stimulus Package Look Like – There are about $2.4 trillions reasons why a deal has not been reached thus far.  A deal is rumored to be coming by Friday (which coincidentally is when the Senate goes out for recess).
• Upcoming Webinars and Helpful Resources
  • NFIB – PPP and EIDL – Your Questions Answered Live (8/5; 12-1pm)
  • Stambaugh Ness – PPP Forgiveness Risks You Need To Know NOW (8/11; 2pm)

Please see all of our prior updates at this link or if you would like to be added to our email list, please click here. 

As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com) or anyone in our office with questions or comments.