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International Automotive Technicians Network
Re: PPP forgiveness
Posted to Shop Management Forum on 5/8/2020

The amount of your loan would have been 2.5 times the average monthly payroll, based on taking a year's payroll records submitted to the IRS and dividing them by 12, then multiplying that number by 2.5.

To get the loan forgiven you have to use 75% of the loa... Login to read more.