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Friday, January 29, 2021 Live Webcast

Latest Developments in PPP Loan Application and Forgiveness: Consolidated Appropriations Act Update (X1-PPP9-2021-01-WEBNR-29-01)

2:00 PM - 5:00 PM EST
webcast

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3.0 CPE Credits in TX

OVERVIEW

The newly-enacted Consolidated Appropriations Act (CAA) has changed the ground rules for applying for new PPP loans and for seeking PPP loan forgiveness. The CAA provides a new round of funding for PPP loans both for those businesses that already have taken a loan and for businesses applying for loans for the first time. With this new round of funding comes a new set of rules related o PPP loan application and forgiveness. Because of this, tax practitioners must nimbly adapt and learn the latest regulations to adequately prepare their clients who need new PPP loans or who wish to pay off prior loans. This program will cover the many new CAA changes as they impact PPP loan forgiveness and new PPP loan applications. The program will also cover the latest developments related to the Form 3508 series.

DESIGNED FOR

Any tax practitioner advising clients with respect to PPP loan forgiveness

BENEFITS

  • 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)

HIGHLIGHTS

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

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

$129.00 - Member

$139.00 - Nonmember

Pre-Registration Closed

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COURSE DEVELOPER

Surgent