Now that borrowers have exhausted their PPP loan funds, attention turns to the application for forgiveness process and issues. In this session we will look at the options borrowers have when applying for forgiveness, as well as the pros and cons of applying immediately for forgiveness or waiting a while before starting the application process. We'll also look at any recent developments arising as Congress considers additional relief provisions and the Administration begins implementing their own programs.
Mr. Zollars will answer all your questions during this NJCPA live event.
- A review of eligible payroll and non-payroll costs for forgiveness, including additional guidance on health care and retirement costs issued by the SBA
- The various special safe harbors for avoiding or reducing the impact of the FTE reduction of forgiveness
- The SBA's process for forgiveness applications and the appeals process available to borrowers
- Accounting issues that arise with PPP loans, both before and after forgiveness
- Payroll tax deferrals for employees - beginning the deferral period
- Potential IRS guidance on deductibility of expenses that would give rise to PPP loan forgiveness when forgiveness not granted by year end