What was the amount of the PPP Loan? What amount of the loan was forgiven?Paycheck Protection Program. Get information about the SBA loan program that helped businesses keep their workforce employed during the COVID-19 crisis. This notice outlines the State of Michigan's conformity to the federal income tax treatment of loans issued under the Paycheck Protection Program. Your 2019 IRS Form 1040 Schedule C must be provided to substantiate the appliedfor. Use this form to apply for the Paycheck Protection Program (PPP) with an eligible lender for a First Draw loan. The new simple PPP loan forgiveness application should let most PPP borrowers easily apply for forgiveness. And let them do so now. In order to apply for forgiveness of your PPP loan, you are going to need to provide proper documentation of all those expenses.