Bloomberg Tax
May 26, 2020, 4:09 PM

Treasury Clarifies Rules on Paycheck Protection Loan Forgiveness

Amanda Iacone
Amanda Iacone

Treasury and the Small Business Administration have issued new guidance on pandemic loan forgiveness eligibility, clarifying the definition of full-time equivalent workers and explaining the impact of staffing reductions.

In a pair of interim final rules, released over the long Memorial Day weekend, Treasury addresses some lingering questions surrounding the Paycheck Protection Program, including how to calculate reductions and exemptions that help to determine how much of the loans can be forgiven. The documents also sketch out the lender review process for forgiveness applications.

Small business owners are anxious to know how much of their loans are eligible for ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.