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PPP Loan Forgiveness Documentation
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Retirement
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Forgiveness Reduction Factors & Salary Reduction Calculation
FTE Reduction Factor
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Effect of Layoffs / Furloughs
Safe Harbor for Forgiveness Reduction Factors
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Applying for Forgiveness
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Definitions
Calculations
Deductibility of Expenses
Length of the Covered Period
Start Date for the Covered Period
Forgiveness Threshold
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Other
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Other CARES Act Loans
PPP Loan Forgiveness
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Support Center
Safe Harbor for Forgiveness Reduction Factors
Portal Login Support
PPP Loan Forgiveness Documentation
PPP Loan Forgiveness Eligibility
PPP Loan Forgiveness Payment
Allowable Expenses (Payroll Costs)
PPP Loan Forgiveness General Information
Retirement
Mortgage and Other Debt
Rent and Other Lease Expenses
Utilities
Self-employment
Disallowed Costs or Costs Not Included in Payroll Costs
Forgiveness Reduction Factors & Salary Reduction Calculation
FTE Reduction Factor
Baseline Period
Calculation Approach
Exclusions
Effect of Layoffs / Furloughs
Safe Harbor for Forgiveness Reduction Factors
Safe Harbor for Demonstrating Need for the Loan
Applying for Forgiveness
Auditability of the Loan
Definitions
Calculations
Deductibility of Expenses
Length of the Covered Period
Start Date for the Covered Period
Forgiveness Threshold
Loan Repayment
Other
Payroll Tax Deferral
Other CARES Act Loans
PPP Loan Forgiveness
Safe Harbor for Forgiveness Reduction Factors
If I rehire people by December 31 does that get me Safe Harbor from the FTE reduction calculation?
I reduced my staff on May 1 and my Covered Period began May 5. After receiving my PPP funds, I hired my staff back on June 1 and kept them through December 31. Does that give me Safe Harbor?
Do I qualify for Safe Harbor if I restore my FTE count on December 30?
We can reduce hours any amount so long as we restore by December 31, right?
If our company has a reduction in FTEs since the quarantines began, what options do we have as to the actual date we need to return to that same FTE total?
Our loan funded on April 16 and we will most likely exhaust our funds with our next payroll cycle on June 16. Since business has not picked up at all, we will need to furlough an FTE.
If I needed to increase my FTE by one, is it as simple as hiring a full-time employee the day before June 30?
If we chose to proceed with the eight-week option, do we have to continue with staff levels until December 31 or June 30 for Safe Harbor?
Between February 15 and April 26, 2020, we did in fact have lower FTE than at February 15, however at the end of our Covered Period on June 11, our FTE count was the same as February 15.
If we have a project that temporarily bumps the FTE count above the baseline period for more than one pay period, does that qualify for restoring the FTEs before December 31?
If we furloughed 35 employees and brought them back, plus hired another 20 employees within that 24-week period, will that be factored in?
If my 24-week period ends in August and we furloughed employees for three months but will rehire most of them after the end of our Covered Period, will the Safe Harbor still apply?