Source: FORBES, 5/16/20

On Friday, May 15th, the SBA issued the Loan Forgiveness Application that will be used by PPP borrowers to determine and report how much of their PPP loan will be forgiven. Most readers know that the Payroll Protection Program loans are extended based upon 2½ months of payroll, health insurance and retirement plan expenses, and are forgiven based generally on the same expenses plus certain interest, rent and utility expenditures that are made in the first eight weeks following the date that the first loan proceeds are received, subject to dozens of rules, many of which are ambiguous or uncertain. 

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