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Monday, December 14, 2020 Webcast

PPP Loan Forgiveness Case Study: Form 3508S Analyzed and Explained (X1-PPP8-2020-01-WEBNR-349-01)

2:00 PM - 5:00 PM EST

Webcast


Webcast , NJ

3.0 CPE Credits in TX

OVERVIEW

Tax practitioners are focused on whether and how they should apply for Paycheck Protection Program (PPP) loan forgiveness. This program explores the various Form 3508 series options available to request forgiveness and explains the positions the IRS has taken in Revenue Ruling 2020-27 and Revenue Procedure 2020-51 with regard to deducting eligible compensatory and noncompensatory expenses. The program both explains the PPP loan forgiveness process and uses a case study to illustrate how the loan forgiveness application process works. If you are advising clients regarding this process, you will benefit greatly from attending this program.

IMPORTANT NOTE: THIS COURSE INCLUDES COVERAGE OF THE NEW CORONAVIRUS STIMULUS LEGISLATION (CONSOLIDATED APPROPRIATIONS ACT, 2021), NOW SIGNED INTO LAW BY THE PRESIDENT.

DESIGNED FOR

Any tax practitioner advising clients with respect to PPP loan forgiveness

BENEFITS

  • Understand the issues associated with the preparation of the Form 3508 return series
  • Know when the IRS will allow PPP borrowers to deduct expenditures funded with PPP loan proceeds

HIGHLIGHTS

  • Changes to the PPP loan program resulting from the stimulus legislation
  • Case study for Form 3508S
  • When to use Form 3508 or Form 3508EZ
  • When can a borrower deduct expenses funded with PPP loan proceeds? (IRS Notice 2032, Revenue Ruling 2020-27, and Revenue Procedure 2020-51)
  • Forms 3509 and 3510 for borrowers with loans in excess of $2 million
  • Appealing loan forgiveness declinations
  • Differences between an EIDL and a PPP loan

COURSE LEVEL

Update

PREREQUISITES

Basic knowledge of individual income tax rules

INSTRUCTOR

Michael Tucker

Michael J. Tucker, CPA, Ph.D., J.D., LL.M.

Ph.D., JD, CPA

Professional Education Network

Michael J. Tucker is an employee of Surgent McCoy CPE, LLC and a consultant for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of many professional articles and a veteran TV and live-seminar presenter. In addition, he heads up Surgent McCoy's webinar efforts, where he writes and hosts many of the webinars Surgent McCoy sponsors and presents. Mr. Tucker was a professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat Marwick and Deloitte & Touche. Mr. Tucker received his J.D. from New York University, his LL.M. from Georgetown University Law Center, and his Ph.D. from the University of Houston.

PRICING

$139.00 - Member

$149.00 - Nonmember

Pre-Registration Closed

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ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent