PPP Tools and Checklists
If you or your clients have received a Small Business Administration (SBA) loan through the Paycheck Protection Program (PPP), estimating the PPP loan forgiveness amount is based on many factors. Use the PPP Loan Forgiveness Estimator, created by Paychex®, to assist you and your clients with understanding how much of the PPP loan may be forgiven by the federal government.
If you or your clients are a new or existing Paychex Flex® customer, access to a more robust estimator is available. It features the ability to generate, save, and print a signature-ready loan forgiveness application. Accounting professionals may access this tool through AccountantHQ (AHQ) on their clients’ behalf.
Have questions? We’re here to help.
By using the Loan Forgiveness Estimator, Powered by Paychex, you are leaving the CCH Incorporated site and CCH cannot attest to the accuracy of any third-party site. Linking to a non-CCH site does not constitute an endorsement by CCH or any of its employees of the information and products presented on the site. You will be subject to the destination site’s privacy policy when you use the Forgiveness Estimator.
Latest Paycheck Protection Program Developments
SBA Issues Year-end PPP Loan Forgiveness Report
Jan. 06, 2022 — The Small Business Administration (SBA) issued it’s year-end Payroll Protection Program (PPP) loan forgiveness report.
IRS Guidance for Treatment of Tax Related to PPP Loan Forgiveness
Nov. 23, 2021 — IRS Provides Important Guidance for Treatment of Tax Exempt Income and Timing Of Basis Adjustments Related to PPP Loan Forgiveness.
Paycheck Protection Program Loan Forgiveness Percentage Increases; 2020 Loan Risks
Oct. 11, 2021 — It is important for 2020 PPP loan recipients to apply for forgiveness as soon as possible to avoid being subject to loan repayment obligations that include accrued interest.
400,000 PPP Loan Recipients Used the Forgiveness Application Portal: 1,300 Lenders Are Participating
Aug. 20, 2021 — The Small Business Association’s (SBA) new PPP direct forgiveness application portal has received almost 400,000 submissions, with nearly 1,300 lenders participating, according to the agency.
SBA Announces Forgiveness Application Portal to Accept Application Beginning August 4th: Over 600 Banks Opt-in
July 29, 2021 — Newly launched PPP forgiveness application portal will begin accepting applications from borrowers that have a PPP loan with a lender that has opted in, on August 4.
Written by Mark Friedlich, Esq., CPA,Paycheck Protection Program Timeline
Webinars & Self-Study
Paycheck Protection Program (PPP) Updated Legislation: Requirements, SBA Guidance and Tax Implications
The New Tax Bill: PPP Deductions, New PPP Loans, EIDLs and Recovery Rebates
PPP Loans: Update and Completing Forgiveness Applications
Quick FAQs: PPP Loans & Forgiveness
PPP Loan FAQs
- What are PPP Loans?
- What are the requirements and rules?
- What is a First Draw Loan?
- What is a Second Draw Loan?
Continuation of PPP (Dec. 2020 Legislation) FAQs
- What relief is included in the Consolidated Appropriations Act, 2021?
- Where can I find a summary of the economic aid for hard-hit businesses?
- Are there changes to PPP in the year-end legislation?
- Are there provisions directly benefitting the restaurant industry?
- What expenses are allowable & forgivable uses for PPP funds?
PPP Loan Forgiveness FAQs
Additional Resources
Overview & Program Rules (Treasury Department)
Small Business Administration Guidelines
