Follow the American Institute of CPAs recommendation for PPP loan forgiveness

Follow the American Institute of CPAs recommendation for PPP loan forgiveness

0 have signed. Let’s get to 1,000!
At 1,000 signatures, this petition is more likely to be featured in recommendations!
beret kirkeby started this petition to United States Department of the Treasury and

I am writing you to advocate on behalf of America’s small businesses, an extremely important issue as you know.  The American Institute of CPAs (AICPA) has released recommendations about the appropriate documents and calculations that small businesses should use to qualify for loan forgiveness under the CARES Act’s Paycheck Protection Program (PPP).  Those recommendations include:

1.  The eight-week covered period under PPP should align with the beginning of a pay period, not the date that loan proceeds are received.


2.  The eight-week period should begin only once local stay-at-home restrictions are lifted, not when the loan proceeds are received, giving small businesses adequate time to accumulate sufficient funds to ramp up operations.

3.  Full-time job equivalent (FTE) employees should be calculated using a simple wage-based proxy when hours worked are not tracked by the employer.

4.  Payroll reduction calculations should be based on average payroll per employee per week, not total compensation per employee.


These accountants have the most comprehensive understanding of how to best help small businesses.  Please, please consider adopting their recommendations in order to give true small businesses the best chance at surviving the shutdown.  The law as currently written allows for usage in the eight weeks post-funding, which means many businesses will have exhausted their loans before they can even open.  

Additionally, businesses may have different needs based on where they are located, and that should be addressed.  For example, commercial rents in places like NYC or San Francisco are significantly higher than those in small town America.


Additionally, the IRS recently weighed in on the tax deductions associated with the loans and ruled that expenses are not deductible.  This ruling should be closely examined in order to provide maximum benefit to small businesses, and so that more Federal loans are not necessary, thus creating additional delays in bringing small businesses back to life.

Thank you very much.

0 have signed. Let’s get to 1,000!
At 1,000 signatures, this petition is more likely to be featured in recommendations!