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COVID-19: Updated PPP Loan Provisions and Forgiveness

  • 02/26/2021
  • 12:30 PM - 3:30 PM
  • Webinar - CPA Crossings


Registration is closed

This course will discuss the revised PPP loan provisions included in the December 27, 2020 Stimulus bill. It integrates the retroactive changes into the PPP1 program and also discusses the PPP2 program. The presentation addresses the many loan issues impacting CPAs and their clients for both PPP1 and PPP2 loans. The unique loan reporting challenges facing practitioners are related through actual practice situations – and then analyzed for their reporting implications.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:

  • To provide an exploration of numerous practice situations occasioned by the loan-related provisions in the COVID-19-related legislation.
Program Content:
  • New Stimulus PPP loan provisions and how retroactive changes to PPP1 affect what to do about forgiveness of those loans
  • Comparison of PPP1 and PPP2 loans – application and forgiveness forms
  • “Real-life” examples – practice issues CPAs are dealing with in these extraordinary times.
  • Tax and accounting issues arising from the loan and loan forgiveness provisions – deductions vs. income exclusion
  • Comprehensive example filled in on loan forgiveness application

Designed for: CPAs in public practice seeking an update on the latest tax developments affecting loans and loan forgiveness.

Level: Intermediate

Instructor: Steven C. Dilley, CPA, JD, PhD

Developer: Federal Tax Workshops, Inc

CPE Credits: 3

Area of Study: Taxes

Prerequisite: Basic working knowledge of practice management.

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