Courses

Ever since businesses started receiving Paycheck Protection Program (PPP) loans, tax practitioners have raised challenging questions regarding how, whether, and in what amount such loans can be forgiven. That question has become even more relevant now because the Small Business Administration (SBA) has recently issued the Loan Forgiveness Application and interim final rules, dated May 22, 2020, which make reference to the Loan Forgiveness Application. This program analyzes the PPP Loan Forgiveness Application, the instructions to the Loan Forgiveness Application, and the May 22, 2020 interim final rules in great detail, pointing out at the same time relevant outstanding questions and ambiguities that require further guidance. The presenters are aware that the SBA may issue additional guidance regarding PPP loan forgiveness at any time and will incorporate such additional guidance into the program where possible so as to make sure the programmatic coverage is timely and up to date.