Business owners who received a PPP loan have 10 months following the end of the 24-week Covered Period to submit to their lender for forgiveness. Assuming you received your PPP loan in mid-April, you have until July 31st to complete the forgiveness application with the IRS.
- Practice owners with PPP loans of $150k or less would use the 3508S
- Practice owners can file the short-form, Form 3508EZ, if they did not reduce their employee hours and also did not reduce employee salaries by more than 25%
- Everyone else uses the form 3508
We can help you apply for PPP Loan Forgiveness with your lender. Our fee for to complete the Form 3508S is $750, discounted to $500 if you use our firm’s payroll service, while our fee is $1,000 to complete the Form 3508EZ or $1,500 for the Form 3508.
Please email us at firstname.lastname@example.org to request our help with our PPP Loan forgiveness application.