IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Tax Treatment of PPP Loan Forgiveness (OnDemand Webinar)

$149.00

SKU: 409175EAU

Description

Gain an understanding of how you might approach this program and others enacted to counter the COVID19 pandemic.This topic will explore the history of Payroll Protection Program (PPP) loan forgiveness by starting with the language of the CARES Act. We will trace through the guidance released by the Internal Revenue Service regarding PPP loan forgiveness and whether expenses incurred with PPP loan funds would be deductible by the PPP loan borrower. Although we will not linger on that history given later statutory changes enacted by Congress, exploring that IRS guidance will help us understand how taxing authorities might approach similar programs enacted to counter the COVID19 pandemic and its effects on the economy. We will then shift to those later statutory changes before concluding with a survey of state and local reactions to those changes.

Date: 2021-07-13 Start Time: End Time:

Learning Objectives

Explore the History of PPP Loan Forgiveness

Distinguish Income Events Related to PPP Loan Forgiveness, as Opposed to the Use of PPP Loan Proceeds

Better Understand IRS Guidance

Analyze Current Status of Federal Law on the Topic

Survey State and Local Legislative Actions Taken in Response to Federal Law Changes

CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Dan Eller-Schwabe, Williamson & Wyatt

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Tax Treatment of PPP Loan Forgiveness (OnDemand Webinar)

$149.00

SKU: 408797EAU

Description

Gain an understanding of how you might approach this program and others enacted to counter the COVID19 pandemic.This topic will explore the history of Payroll Protection Program (PPP) loan forgiveness by starting with the language of the CARES Act. We will trace through the guidance released by the Internal Revenue Service regarding PPP loan forgiveness and whether expenses incurred with PPP loan funds would be deductible by the PPP loan borrower. Although we will not linger on that history given later statutory changes enacted by Congress, exploring that IRS guidance will help us understand how taxing authorities might approach similar programs enacted to counter the COVID19 pandemic and its effects on the economy. We will then shift to those later statutory changes before concluding with a survey of state and local reactions to those changes.

Date: 2021-05-26 Start Time: End Time:

Learning Objectives

Explore the History of PPP Loan Forgiveness

Distinguish Income Events Related to PPP Loan Forgiveness, as Opposed to the Use of PPP Loan Proceeds

Better Understand IRS Guidance

Analyze Current Status of Federal Law on the Topic

Survey State and Local Legislative Actions Taken in Response to Federal Law Changes

AIPB ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Dan Eller-Schwabe, Williamson & Wyatt