The AICPA on Wednesday, April 29, issued a series of recommendations to the U.S. Small Business Administration (SBA) for adoption and possible guidance for small businesses to use in calculating loan forgiveness under the Paycheck Protection Program (PPP).
Among its recommendations added to a press release, the AICPA urged that the eight-week covered period under PPP should align with the beginning of a pay period, not when businesses receive the loan proceeds. The organization also recommended implementing an eight-week period once stay-at-home restrictions are lifted.
The full list of recommendations is available on the AICPA’s website.