Updated 6/25/2020. Borrowers or their CPA advisers can use the tool to fill out the forgiveness application. Companies should contact their financial or legal advisors or the Small Business Administration for more information regarding eligibility. The current version of the calculator may be downloaded HERE. *Unabridged Software does not provide financial or legal advice. The AICPA has updated its PPP loan forgiveness calculator as of guidance released June 25 th. The loan forgiveness calculator will be discussed today during a 3 p.m. AICPA town hall on the CARES Act and PPP, part of a weekly online series on these topics. Any qualified borrower of a PPP loan of $50,000 or less may use SBA Form 3508S to apply for loan forgiveness and be exempted from any reductions in their loan forgiveness amount based on reductions in full-time equivalent (FTE) employees or reductions in employee salary or wages. The American Institute of CPAs (AICPA) has created a loan forgiveness calculator (excel spreadsheet download) for the Paycheck Protection Program (PPP) to help resolve outstanding issues with the process.. The tool incorporates the PPP forgiveness calculator developed by the AICPA and is available to any business approved for a PPP loan, regardless of the lender it worked with to receive funding. PPP Loan Forgiveness Calculator Last updated June 8, 2020 . SBA PPP Loan Forgiveness Calculator. Download the Information Checklist to Apply for PPP Loan Forgiveness. The calculator is based on existing PPP guidance from the Department of Treasury and Small Business Administration (SBA), as well as additional recommendations added by the AICPA. The calculator is based on existing PPP guidance and additional recommendations from AICPA. The AICPA has released a PPP loan forgiveness calculator, which can be used to estimate loan forgiveness. Download the PPP Loan Forgiveness Calculator. AICPA Creates PPP Loan Forgiveness Calculator By Jeff Berman | May 14, 2020 at 02:27 PM The goal is to resolve remaining issues that created a “major stumbling block” to … The latest version can be downloaded here, in the calculators section. In May 2020, AICPA launched a PPP loan forgiveness calculator, which it shared with the Treasury Department and SBA, because questions around loan forgiveness have been a major stumbling block to successful PPP implementation. This is a powerful tool for helping borrowers plan for forgiveness, organize documentation and prepare the loan forgiveness application. The Loan Forgiveness Calculator uses available guidance from the Small Business Administration and Treasury, along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness. On June 5, 2020 the Paycheck Protection Program Flexibility Act of 2020 was signed into law that will, among other things, extend the time period allowed for businesses to spend PPP loan proceeds and ease restrictions on eligible forgivable expenses. Download the 8-Week Full Time Equivalent (FTE) Calculator. In order to apply for loan forgiveness for the PPP program, you are required to complete the U.S. Small Business Administration Form 3508. Download the 24-Week Full Time Equivalent (FTE) Calculator. The tool will produce all government-required forms automatically. Thank you for visiting our PPP Loan Forgiveness Calculator! The AICPA updates this tool each time additional guidance is received, so make sure to regularly check that you have the most current version. 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