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debbie97
Level 1

Trying to calculate loan forgiveness on the payroll compensation. I received my money 5/4/2020 8 week period ending 6/28/20 can I include the payroll paid on 6/30/20

 
1 Comment 1
MaryLandT
Moderator

Trying to calculate loan forgiveness on the payroll compensation. I received my money 5/4/2020 8 week period ending 6/28/20 can I include the payroll paid on 6/30/20

Hello there, debbie97,

 

You need to calculate within the 8 week period which ends 6/28/20.

 

I suggest consulting with your tax advisor if the load forgiveness still calculates until 6/30/20. They can provide specific instructions to ensure you have accurate records.

 

I'm adding this page to learn more about the loan in QuickBooks Online: Paycheck Protection Program loan forgiveness.

 

Stay in touch with me if there's anything else you need concerning payroll. I'll be around to help you.

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