July 23, 2020
I’d like to use the Alternative Covered Period for my payroll. Does my first week of funds spent need to match my first week of forgiveness?
Posted by Armanino Financial Advisory Team
The Alternative Covered Period applies only to your payroll costs and not other costs. Those other costs will be for the period beginning the date you received your PPP funds. The Alternative Covered Period begins with the first day of the first complete pay period that starts after you received the funds.