July 23, 2020
Between February 15 and April 26, 2020, we did in fact have lower FTE than at February 15, however at the end of our Covered Period on June 11, our FTE count was the same as February 15. With the Safe Harbor date change from June 30 to December 31, can we use the June 11 FTE numbers to qualify for Safe Harbor?
Posted by Armanino Financial Advisory Team
To qualify for Safe Harbor, you will need to use your FTE numbers based on the earlier of the date you submit your forgiveness application to the lender or December 31, 2020. Do not use the FTE total as of the end of your Covered Period to determine if you have Safe Harbor.