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Simplifying Forgiveness: The New Form 3508S

11-05-2020


The SBA’s long-awaited announcement of a simplified application for forgiveness raises new questions:

  • Does your company qualify for the simplified process?
  • What is the difference between the 3508EZ and the 3508S, and which should you use?
  • Which forgiveness reductions are waived for 3508S filers?
  • How many limitations still apply to 3508S filers, and why does the form not display line items for them?
  • What information do you need from your payroll solutions provider to complete Form 3508S?



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