Covid 19 Center

 

The information in this page is based on laws, rules, regulations, and related guidance with respect to the Paycheck Protection Program (PPP), including guidance issued by the U.S. Small Business Administration (SBA) on August 11, 2020. We will periodically update this information, so please check back often and consider bookmarking this page. In the event of any discrepancies between the information on this site and the SBA’s site, please follow official SBA guidance.

Update 10-7-20 -SBA clarifies deferral period for PPP loan payments

Update 10-8-20 – PPP forgiveness simplified for loans of $50,000 or less

Important Links

PPP LOAN FORGIVENESS DOCUMENTS REQUEST FORM

COMPLETE LOAN FORGIVENESS GUIDE

HOW TO FILL OUT YOUR PPP LOAN FORGIVENESS APPLICATION

PPP LOAN FORGIVENESS EXAMPLES

 

 

When is the covered period for payroll costs to be incurred and/or paid?

To qualify for loan forgiveness, the funds must be used for eligible costs incurred or paid during a 24-week (168 day) covered period (ending December 31, 2020, at the latest); if you received your loan before June 5, 2020, then you can choose an 8-week (56 day) or 24-week (168 day) covered period.

You can seek forgiveness for payroll costs for the covered period based on either of the following, at your election:

  • Covered period: The period that begins on the date you received the PPP loan proceeds; or
  • Alternative payroll covered period: If you have a biweekly or more frequent payroll schedule, the period that begins on the first day of the first pay period after you received the PPP loan proceeds.

Payroll costs for the covered period must be paid or incurred during the period to be eligible. If payroll costs are incurred during the last pay period within the covered period selected, but paid after the end of the covered period selected (but on or before the next regular payroll date), these payroll costs will still be eligible for forgiveness. (For example, this may happen when your pay cycle ended on the payday of Friday, October 2, but the covered period selected ended on October 1.)

A Note on FTE’s

FTE counts both full-time (FT) and part-time (PT) employees. An FT employee is counted as 1.0 FTE, and a PT employee is counted by average number of hours per week divided by 40. For example, a PT employee working 32 hours would count as 0.8 FTE. The SBA also offers a simplified method that assigns all PT employees as 0.5, if that is preferable.

Completing Forms 3508 & 3508 EZ (Click on Links Below)

Covid-19 Reporting Instructions – Must Read if a Platinum Pay User

Filling out Form 3508EZ Video Tutorial

Filling out Form 3508 Video Tutorial

3508S Instructions

Fillable Form 3508S

Form 3508EZ Instructions

Fillable Form 3508EZ

Form 3508 Instructions

Fillable Form 3508 

FAQ’s and Other Helpful Guidance (Click on Links Below)

Paycheck Protection Program Loan Forgiveness – Recommended Supporting Documents

Eligible Payroll Costs

PPP-Loan-Forgiveness-Calculator

Paycheck Protection Program Loan Forgiveness – Recommended Supporting Documents

Notes on Payroll Documents

PPP Loan FAQs as of 8-11-2020

PPP Interim Final Rule – Treatment of Owners and Forgiveness of Certain Nonpayroll Costs
Effective Aug 24, 2020

PPP Loan Audits FAQs

ReHiring GuideNew

8 v 24 Weeks New

 

 

 

 

April 27, 2020

More PPP Funding Approved, Questions Remain Unanswered-National Law Review Article 4 26 20

Paycheck-Protection-Program-FAQs_04 26 20

PPP-Loan-Forgiveness-Tracker

April 20, 2020

PPP Loan Forgiveness Guidelines 4-20-20

Simplifi_coronavirus_program_comparisonv3.0

April 9, 2020

Paying EPSL & EFMLA Instructions

On April 10, 2020, independent contractors and self-employed individuals can apply for PPP loans

April 7, 2020

PAY CODE CHART 4-7-20

EPSL AND EFMLA UPDATE

April 2, 2020

PPP Loan ChecklistApril 2, 2020

Beneficial Ownership Form

April 2, 2020

COVID-19 Practical Scenario Guide for Employers

April 2, 2020

Payroll Protection Act Summary

April 1, 2020

Family First Cares Relief Summary

March 31, 2020

Economic Disaster Injury Loans Guide for Employers

March 30, 2020

FFCRA_Poster – Mandatory Poster for All Employers

March 25, 2020

Philadelphia and PIDC to provide a $9 million relief fund to small businesses

March 23, 2020

Important Direct Deposit Changes – VERY IMPORTANT

March 23, 2020

Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave.

March 22, 2020

Corona Virus Emergency Legislation FAQ

March 21, 2020

Coronavirus Unemployment: Answers from the Pennsylvania Department of Labor

March 21, 2020

NJDOL Benefits and The Corona Virus: What Employees should know