June 17, 2020 | Posted in:

Revised PPP Forgiveness Application and New EZ Application Published

The Small Business Administration and Department of Treasury have posted a new, revised version of the Paycheck Protection Program(PPP) forgiveness application that reflects the changes of the PPP Flexibility Act.  In addition, a new, borrower-friendly “EZ” version of the forgiveness application has been posted for specific borrowers.  With both applications, the borrowers can choose whether they would like to use the original 8-week period or the extended 24-week period.

EZ Application Eligible Borrowers

The EZ application requires less documentation and fewer calculations from qualified applicants.  Eligible borrowers must meet at least one of the three descriptions listed below.

  • Those who are self-employed with no employees
  • Those who did not reduce the salary or wages of their employees by more than 25% and did not reduce the hours or number of their employees
  •  Those who experienced a reduction in business activity due to COVID-19 and did not reduce the salary or wages of their employees by more than 25%

EZ forgiveness application instructions can be found here. Eligible EZ application borrowers apply here.

Revised PPP Forgiveness Application Details

Due to the passing of the PPP Flexibility Act, a number of changes have been made to the forgiveness application.

  • Health insurance for S-Corp business owners cannot be included in payroll costs.
    • Retirement costs for S-corp business owners can be included in payroll costs.
  • Borrowers do not need to wait until December 31st to apply for forgiveness to use the safe harbors
    • As of the date the loan forgiveness application is submitted, safe harbors for excluding reduction in salary and hourly wages and reduction in the number of employees from loan forgiveness reduction can be applied.
  • Borrowers who received a loan before June 5, 2020, can decide whether to use the 8-week covered period or the 24-week covered period

The revised PPP forgiveness application can be found here.

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Please contact your Alloy Silverstein accountant and advisor if you have any questions or concerns. You may also email


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