Who can use the PPP EZ Forgiveness Application? Form 3508 EZ
The SBA (in conjunction with the Treasury) have released a simplified version of the PPP forgiveness application, but the BIG question is.....who can use it? Who can use the EZ form vs. the regular forgiveness application?
Borrowers need to self-certify that they hit one of three criteria in order to qualify to use the 3805 EZ form.
This form does not require the detailed calculations of wage reductions or FTE reductions. It is straight-forward and easier to fill out....hence "EZ".
Remember to DOCUMENT all the expenses related to the PPP loan. Find guidance here: https://youtu.be/6tlCbJaoDPo
Find Small Business PPP Resources here: http://learn.claracfo.com
To book a time to talk about your PPP Loan go here: https://claracfo.as.me/claritysessions
Find us at: https://claracfo.com/
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.