In times like these, we know it’s now more important than ever to have access to the most up to date information and relevant resources to support you and your business. We’re working hard to deliver you a new and improved experience, tailored to your individual needs. You’ll start seeing some changes later this month.
SBA Paycheck Protection Program resources for CPAs
The Coronavirus (the virus that causes COVID-19) is having an unprecedented effect on the economy. Main Street’s small businesses are struggling to stay afloat as they’re forced to close to protect the health and safety of employees and customers. Through recently enacted federal legislation, there are opportunities for help through U.S. Small Business Administration (SBA) loans.
One of the most impactful is the Paycheck Protection Program (PPP), designed to provide access to cash so that businesses can keep paying their employees and other expenses such as health insurance premiums, rent or mortgage payments and utilities. This important financial relief will help small businesses return to being fully operational quicker once conditions improve.
In this resource center designed for CPA firms, you’ll find tools to help you educate and advise your clients on the program.
This page has been updated as of May 20, 2020.
Get updates and the latest insights on PPP forgiveness in the May 21 event, hosted by Mark Koziel, EVP Firms Services, and Erik Asgeirsson, President & CEO, CPA.com. Erin Roche with the Elliott Group provides a firm perspective.
When you click the link, please look for an Excel file calculator to download rather than opening in a new window.
CPE & Learning
Hear latest updates on guidance from Treasury and SBA as well as review of top firm questions. The Town Hall is led by AICPA executive leads Mark Koziel, EVP Firms Services, and Erik Asgeirsson, President & CEO, CPA.com.
AICPA Requesting Flexibility in Timing of PPP's 8-Week Clock
Request of Treasury to provide flexibility for the 8-week period in order to assist businesses be able to meet the requirements and obtain loan forgiveness.
Frequently Asked Questions (FAQs) about the PPP
This series of FAQs provides answers to questions we are hearing from our members about the Paycheck Protection Program (PPP).
AICPA Update: PPP guidance and recommendations; IRS deadlines
May 15 update on PPP guidance and recommendations from Association CEO Barry Melancon, CPA, CGMA and Erik Asgeirsson, President & CEO, CPA.com.
PPP - Client risks and agent considerations
Association CEO Barry Melancon, CPA, CGMA highlights three key areas CPAs should consider when helping clients with the PPP loan process.
SBA PPP Loan Forgiveness Application
Keep this application handy to know what information to have available when applying for PPP loan forgiveness.
Sample PPP Application
Provide your clients with a sample application so they’re prepared to apply.
Frequently Asked Questions (FAQs) about the PPP
This series of frequently asked questions (FAQs) provides answers to questions we are hearing from our members about the Paycheck Protection Program (PPP).
Forgiveness Calculation Steps (PDF)
Step-by-step guide to maximizing PPP loan forgiveness.
PPP Loan Forgiveness Services Matrix (PDF)
Matrix to help the CPA determine which service is appropriate to provide for PPP loan forgiveness.
AICPA Recommendations – PPP Application & Forgiveness Processes (PDF)
The AICPA has provided recommendations for documentation to lenders as well as recommendations for a few key calculations to help drive effective, consistent PPP application and forgiveness processes. These are recommendations the AICPA is asking the SBA and Treasury to consider and do not represent authoritative guidance.
PPP loan forgiveness calculator (Excel)
This calculator uses available guidance from the SBA and Treasury and along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness. When you click the link, please look for an Excel file calculator to download rather than opening in a new window.
PPP payroll calculators for loan application
The PPP provides three scenarios for calculating maximum loan amounts depending on how long the business has been in operation and whether it’s seasonal. You can add all three to your COVID-19 resource library. They’re designed so that your client can complete them following the steps outlined in the calculator. When you click the link, please look for an Excel file calculator to download rather than opening in a new window.
- PPP Loan Calculator – Non-seasonal & In business 2/15/19 – 6/30/19 (Excel)
This calculator will apply for most businesses that operated in 2019.
- PPP Loan Calculator – Nonseasonal & NOT in business 2/15/19 – 6/30/19 (Excel)
This calculator will apply for new businesses.
- PPP Loan Calculator – Seasonal business (Excel)
This calculator will apply for clients that don’t operate year-round.
- PPP Loan Calculator – Self-Employed (Excel)
This calculator will apply for self-employed individuals.
SBA loan snapshot (PDF)
A resource to help your clients get a basic understanding of SBA loan options
SBA loan overview (PDF)
A side-by-side comparison of SBA loans.
Emergency funding to offset Coronavirus impacts on your business (PDF)
Use this co-brandable resource to help your small business clients understand the new Payroll Protection Program (PPP) funding option.
Main Street Lending (MSL) funding options (PDF)
Learn more about key aspects of the three programs available to small- and medium- sized businesses.
Following are links to guidance related to PPP. There are areas of the Act where additional clarification from the Treasury and SBA is needed. Your judgement and interpretations of the Act and supplemental guidance may be necessary.
Released from U.S. Treasury
News Articles, Podcasts and Webcasts
- AICPA Says Treasury and SBA PPP Loan Forgiveness Application Leaves Many Questions, May 16, 2020
- AICPA Town Hall Update: CARES Act and PPP, May 14, 2020
- Small businesses should focus on PPP's intent, keep using funds, May 5, 2020
- SBA allows increased PPP loans to partnerships, extends safe harbor to May 18, May 14, 2020
- SBA provides safe harbor for PPP loans under $2 million, May 13, 2020
- SBA addresses how to calculate PPP loans, other issues, April 27, 2020
- SBA warns that larger companies may not qualify for PPP loans, April 24, 2020
- Application advice for SBA loans podcast, April 9, 2020
AICPA Offers Recommendations for Firm-Lender Relationship for Paycheck Protection Program
The AICPA made recommendations on the firm-lender relationship for CPA firms assisting small business clients with the Paycheck Protection Program.
Lenders and PPP loans: How can CPAs help?
Guidance related to performing services in connection with PPP loans related to lender relationships.
Issues related to CPA involvement with PPP loans
The Center for Plain English Accounting has issued this Special Report: Small Business Loans under the Payroll Protection Program: Issues Related to CPA Involvement
Important ethical implications to consider for COVID-19 PPP loan applications
Answers to questions about helping your small business clients with their loan applications under the new federal Paycheck Protection Program.
Update: Impact of accepting PPP agent fees on independence
PEEC has concluded that accepting an “agent fee” for advisory services under the PPP Act does not in and of itself impair independence (as of April 13)