20WS-1609: Surgent's PPP Loan Forgiveness Case Study: Form 3508S Analyzed and Explained (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Monday, December 28, 2020
1:00pm - 4:00pm Central Time
3 CPE (3 technical) | 3 IRS CE
As 2020 comes to an end, you're facing whether (and how) to apply for Paycheck Protection Program (PPP) loan forgiveness. In this webinar, gain guidance on this process so you can confidently advise your clients. Examine the various Form 3508 series options available to request forgiveness and look at the positions the IRS has taken in Revenue Ruling 2020-27 and Revenue Procedure 2020-51 related to deducting eligible compensatory and noncompensatory expenses. Gain guidance on the PPP loan forgiveness process and walk through a case study that illustrates how the loan forgiveness application process works.
Major subjects
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Case study for Form 3508S
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When to use Form 3508 or Form 3508EZ
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When can a borrower deduct expenses funded with PPP loan proceeds? (IRS Notice 2032, Revenue Ruling 2020-27 and Revenue Procedure 2020-51)
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Forms 3509 and 3510 for borrowers with loans in excess of $2 million
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Appealing loan forgiveness declinations
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Differences between an Economic Injury Disaster Loan (EIDL) and a PPP loan
Learning objective(s)
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Understand the issues associated with preparing the Form 3508 return series
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Know when the IRS will allow PPP borrowers to deduct expenditures funded with PPP loan proceeds
Who should take this program?
Tax practitioners who advise clients on PPP loan forgiveness
Fees
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 Standard Nonmember Fee |
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