NEW PPP Loan Provisions and Forgiveness Update
Course Description
Archive : NEW PPP Loan Provisions and Forgiveness Update Digital Download
Salepage : NEW PPP Loan Provisions and Forgiveness Update
Delivery : Online With Any Device
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.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to [email protected].
Basic Course Information
Learning Objectives
- To provide an exploration of numerous practice situations occasioned by the loan-related provisions in the COVID-19-related legislation.
Major Subjects
- 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
Steve is President of Federal Tax Workshops, Inc., located in East Lansing, Michigan. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and individual taxpayers. He has published numerous articles on these topics. In addition, Steve is a retired Professor of Accounting at Michigan State University, where he taught tax accounting and has recently received numerous teaching awards. He obtained his PhD in accounting, law degree and an undergraduate accounting degree from the University of Wisconsin-Madison. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, The American Accounting Association, AICPA, American Tax Association, and Hawaii Association of Public Accountants.
Reviews
There are no reviews yet.