New PPP forgiveness applications released on Jan 19, 2021 – Under $150k no submission of support

In some of our previous posts, we mentioned that the financial institutions, Chambers of Commerce, small business groups, etc. were pushing for the increase of the threshold of form 3508 from the initial amount of $50,000 to the $150,000.  In fact, some of the financial institutions stopped the forgiveness process intake (or never started it)