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Forgiveness in 2021: How the Economic Aid Act is Changing PPP – Focusing on Loans Above $150,000

February 2, 2021

The Economic Aid Act signed on December 27, 2020, reopened the SBA’s Paycheck Protection Program – and made significant changes to the forgiveness process.

Viventium continues to deliver the insight and hands-on analysis you need to maximize your grant amount while complying with the SBA’s complex forms, rules, and guidance.

If your 1st or 2nd draw loan will be more than $150,000, please join Viventium’s own Yonina F. Shineweather, CPA, for a step-by-step guide to completing Forms 3508, Schedule A, and the Worksheet.

You’ll learn:

  • What the new key dates are for your forgiveness calculations;
  • How headcount and wage reductions can jeopardize your forgiveness – and what safe harbors can protect you;
  • Which conflict between the forgiveness form and the SBA rules may impact your forgiveness amount; and
  • How payroll cost limits for owner-employees are changing.

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