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Form 3508S The S form is the simplest forgiveness form, requiring the fewest calculations and least amount of documentation. You may use Form 3508S if your loan amount was $150,000 or less for an individual First or Second Draw PPP Loan.
Do I need to calculate FTE for 3508EZ?
However, Borrowers who file Form 3508 EZ by meeting the second set of requirements (checking the second box on page 1 of Form 3508EZ), are still required to calculate FTEs, but as of January 1, 2020 and as of the last day of their Covered Period.
How do I fill out PPP EZ forgiveness application?
5:23 12:11 How to Fill Out PPP Loan Forgiveness EZ Application If You're SELF ... YouTube Start of suggested clip End of suggested clip Application first where it says covered period go ahead and write the date of your PPP loanMoreApplication first where it says covered period go ahead and write the date of your PPP loan disbursement. Again. Then use your phone or a calendar. And counter had 24.
Who can use the PPP EZ forgiveness application?
Borrowers are eligible for loan forgiveness for the following costs: 1. Eligible payroll costs. Borrowers are generally eligible for forgiveness for the payroll costs paid and payroll costs incurred during the 24-week (168-day) or 8-week (56-day) Covered Period (or Alternative Payroll Covered Period) (\u201cpayroll costs\u201d).
What documents are required for 3508EZ?
Business Rent or Lease Payments: Copy of the current lease agreement and receipts or cancelled checks verifying eligible payments for the Covered Period or lessor account statements from Feb 2020 and from the Covered Period through one month after the end of the Covered Period verifying eligible payments. Required.
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Form 3508S The S form is the simplest forgiveness form, requiring the fewest calculations and least amount of documentation. You may use Form 3508S if your loan amount was $150,000 or less for an individual First or Second Draw PPP Loan.
Who can use the PPP loan forgiveness application form 3508EZ?
This 3508EZ PPP Forgiveness Application form may be used by businesses with PPP loans of more than $150,000 who qualify based on SBA requirements we'll discuss in a moment.
When can I use 3508EZ?
When To Use The 3508EZ Form. The 3508EZ form is for borrowers that received first or second draw PPP loans of more than $150,000.
What documents do I need to submit with 3508EZ?
Business Rent or Lease Payments: Copy of the current lease agreement and receipts or cancelled checks verifying eligible payments for the Covered Period or lessor account statements from Feb 2020 and from the Covered Period through one month after the end of the Covered Period verifying eligible payments. Required.
What is the difference between form 3508 and 3508EZ?
The 3508S and 3508EZ PPP forgiveness forms are shorter and easier to fill out than the standard 3508 form, so they will require less of your time. However, if you don't meet the requirements of the S or EZ forms, you'll have to take the time to fill out the longer 3508 form.
Related links
PPP EZ Loan Forgiveness Application + Instructions
30 Jul 2021 — SBA form. 3508EZ. PPP EZ Loan Forgiveness Application + ... Paycheck Protection Program (PPP) EZ Loan Forgiveness Application Form ...
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