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We would like to give everyone an update on where things stand regarding PPP forgiveness.
Currently, Congress and the SBA have been changing rules seemingly every week. This has led to confusion on what the most up to date guidance is on the forgiveness application, and also raised concerns that previously submitted forgiveness applications may be negatively affected by new changes. Further, there has been a bill proposed that any loans $150,000 and under will be forgiven automatically; all that will need to be submitted is a certification that the funds were used for their intended purpose.
Due to these factors, it is the firms position that everyone holds off on submitting forgiveness applications until the dust settles. Regardless of what the government decides to do, we can help with the forgiveness process when the time comes. If you have any questions related to PPP forgiveness or would like to have the firm complete your forgiveness application, please contact our lead on this subject, Mike Ahlstedt, at michael@taxsense.com.
Mike Ahlstedt, CPA
Henderson, Grealis & Associates / TaxSense®
225 Water Street
Suite 212A
Plymouth, MA 02360
781-849-6070 x 293
508-817-5516 (fax)
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