I was wondering if any of you have seen CPA firms applying for PPP loans and having it forgiven? Two CPA firms around me have received PPP and had it forgiven. Wonder what was the eligibility requirement for them..... maybe their business had a decline as they are not bigger firm than most normal sole prop CPA firms.
-
-
First no one has had it forgiven yet. Their was no eligibility requirement except you had to be a business to receive the money. Money was based on payroll or amount of profit on Schedule C. -
I think CPA firms are pretty private with their information, so I wouldn't expect to see if a CPA firm applied for a PPP Loan. I haven't heard of ANY firm of any type having their forgiveness application accepted by their lender and SBA, yet. All firms had to sign that they qualify, such as fewer than 500 employees at a location. Why are you singling out CPA firms in your question? Is your question about CPA firms? Qualifications? Forgiveness? There are public documents out there, obtained via FOIA, that list PPP Loan recipients in great detail if loan is over $150,000 (or some $ amount) and lesser detail (no names) if less than. See if those answer your question.Comment
Comment