Home>Levelset Community>Legal Help>On the debt forgiveness on the Paycheck Protection Plan, can you lay off an employee, but rehire another new employee?
On the debt forgiveness on the Paycheck Protection Plan, can you lay off an employee, but rehire another new employee?
It appears they are only going to look at FTE numbers, not the actual employees, so if you have laid off someone but rehire someone else within the next 30 days will you still be able to receive full forgiveness on this Stimulus loan?
1 reply
Mar 28, 2020
You will want to contact a tax professional for this question.
It looks like they aren't overly concerned about who is fired and hired so long as the funds are used to support payroll, mortgage interest, rent, and/or certain utilities.