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20WS-1645: Surgent's Latest Developments in PPP Loan Application and Forgiveness: Consolidated Appropriations Act Update (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Thursday, February 4, 2021
Time 1:00pm - 4:00pm
Central Time
Location Online
CPE credits CPE 3.0
Field(s)
of study
Taxes - Technical (3.0)
Specialty
credits
3.0 IRS CE approved
Instructor Michael Tucker, PhD, LLM, JD, CPA
Surgent
Fees
Standard Member Fee $139.00
Standard Nonmember Fee $139.00

Description

The new Consolidated Appropriations Act (CAA) provides a new round of funding for Paycheck Protection Program (PPP) loans for businesses that have already taken a loan and for businesses applying for the first time. With this new round of funding comes a new set of rules related to PPP loan application and forgiveness.

Gain guidance on the latest regulations, impacts on PPP loan forgiveness and application topics, and new developments related to the Form 3508 series

Who should take this program?

Any tax practitioner advising clients with respect to PPP loan forgiveness

Major subjects

  • Second round of Economic Impact Payments
  • Employer credits for paid sick and family leave
  • Employee Retention Credit: rules for 2020 and 2021
  • Tax extender rule changes
  • New disaster relief provisions
  • Simplified forgiveness application for covered loans up to $150,000
  • Latest rules regarding eligibility for the various forms in the Form 3508 series (Form 3508S, 3508EZ and 3508)
  • Deductibility of PPP-funded expenditures
  • How to apply for PPP loans for the first time and the second time
  • PPP loans and the Earned Income Credit
  • Entities eligible and ineligible for a PPP2 loan
  • Implications resulting from a PPP loan greater than $2 million
  • New eligible non-compensatory expenditures for purposes of the 60%/40% requirement
  • Round Two of Economic Injury Disaster Loan Advances (EIDL2)

Learning objective(s)

  • Be familiar with the PPP loan issues associated with the new tax and regulatory regime in the Consolidated Appropriations Act

Notes:

Course code Code 20WS-1645
Sponsor Surgent
NASBA ID#: 103212
Level Update
Format Group Internet Based
Prerequisites Prereq. Basic knowledge of individual income tax rules
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.

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