Yes, you have read that correctly. It is the PPP Flexibility Act of 2020. Why the need to include “2020?” Are they expecting a PPP Flexibility Act of 2021, 2022, and so on? The Paycheck Protection Program itself was not designed to last beyond 2020, so hopefully this is not a bad sign of what is ahead. Let’s take a moment to see how this latest Act impacts those who will be looking for forgiveness on their loan. I will assume you already understand basic PPP terms such as ‘payroll costs,’ ‘covered period,’ and FTE, but if you need a…
