The American Institute of CPAs (AICPA) released their updated version of a loan forgiveness calculator on May 18, 2020 for small businesses that received loans from the SBA under the Paycheck Protection Program (PPP). The AICPA’s more detailed and user-friendly version includes the guidance and assumptions from the Small Business Administration’s (SBA) version of the calculator, which was published on May 15, 2020. In addition, the AICPA version includes extensive notes, points out unclear portions of the forgiveness guidance, and notates its continued recommendations for additional guidance and clarity from the Treasury and SBA to the still unaddressed areas of the law.
You may access the AICPA PPP Loan Forgiveness Calculator here. (Excel file – will download)
This calculator is also posted on the AICPA’s SBA PPP resources page on their website.
To access the calculator that the SBA released on May 15, 2020, click here.
In addition, the National Law Review‘s website includes a helpful article summarizing the key areas of the application.
Should you have any questions, please do not hesitate to reach out to your tonneson + co representative.