Quote:
Originally Posted by hubbahubba
Quote:
Originally Posted by jmg
My lender notified me the same day that they approved my application. Three business days later my loan was paid in full. I got the notice from my lender that the SBA approved forgiveness 2 business days after that. Not sure why the notice was 2 days later, probably pending transfer of funds from SBA to my lender before they sent the notice. This was end of Nov into first week of Dec. SBA are probably just getting slammed now because everyone wants to lock in Q4. My accountant assumed forgiveness even if I didn't hear back. Crossing fingers!
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My accountant wants to assume the same. Big difference in my liability for 2020 if forgiveness is pushed to 2021. My Q4 estimated aren't due till Jan 15, I am waiting it out! |
With the QBI deduction possibly going away with Biden's tax plan, I'm trying not to push anything into 2021.