Updated information from ICPA secretary, Dirk DeVuyst-

At the link noted below you will find FAQs for the PPP effective yesterday, 04/07/20. This document is SBA’s official interpretation of the CARES Act and of the Paycheck Protection Program Interim Final Rule. Consider it required reading for any company who has applied for the PPP.

It’s about an 8 minute read. I suggest you delegate this to your financial manager and that person can report back to you if anything applies to you.

THIS DOCUMENT IS UPDATED FROM TIME TO TIME, and you can go to this same link in the future to read the most recent document.

https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequenty-Asked-Questions.pdf