GFDA – Payroll Protection Program (PPP) Loan Clarifications for Self-Employment Income and Gaming Revenue

U.S. Treasury has issued another interim rule that clarifies eligibility and payroll calculations for individuals with self-employment income who file Form 1040, Schedule C, as well as details on how partnerships are treated. The rule also clarifies eligible use of PPP loan proceeds and amounts eligible for forgiveness, including documentation that you will need to provide to your lender.