New PPP Forgiveness Guidance Addresses Owner-Employee Compensation, Rent-Related Costs
The US Small Business Administration and Treasury published an interim final rule Monday, August 24, that provides clarity on Paycheck Protection Program loan forgiveness issues related to owner-employee compensation calculations and the eligibility of nonpayroll costs related to certain lease and property ownership scenarios.
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** This information is provided for general educational purposes only. Before taking any action based on this information, we strongly encourage you to consult with a professional accounting advisor about your specific situation.