CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

PPP Flexibility Act Update, Loan Forgiveness Form (3508 & 3508EZ) and Other PPP Updates (Latest with SBA Guidance)

4.6 (1836)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

Thursday, August 13, 2020 | 03:30 PM EDT

  • CPA
  • EA

2 Credits


Subject Area


Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00230-20-O)

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0237)

2 CE credit of Tax Planning for all CFPs (CFP Board Approved : 8061) (Approval No. 273239)

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00230-20-O)

2 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00230-20-O)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

ias 1 financial statement presentation- ifrs


Jun 23, 2021 | 09:30 AM EDT View Details

s-corp preparation, basis calculations & distributions – form 1120s schedule k & k-1 analysis


Jun 23, 2021 | 10:00 AM EDT View Details

ethics for tax professionals (latest 2021)


Jun 23, 2021 | 10:00 AM EDT View Details

practical guide to fraud including cash, inventory & general frauds (latest)


Jun 23, 2021 | 10:00 AM EDT View Details

how to deal effectively with irs examinations and criminal investigations?

Jun 23, 2021 | 10:00 AM EDT View Details

tips on engaging employees in the midst of crisis


Jun 23, 2021 | 10:30 AM EDT View Details

quickbooks online for accountants work centre - managing you practice


Jun 23, 2021 | 10:30 AM EDT View Details

best workshop on partnership & llc (form 1065) tax return review & case study (new)

Jun 23, 2021 | 08:00 AM PDT View Details

annual federal tax update - individuals (form 1040)


Jun 23, 2021 | 08:00 AM PDT View Details

mastering irs representation

Jun 23, 2021 | 08:00 AM PDT View Details

sox internal controls for accounts payable, receivable & inventory


Jun 23, 2021 | 08:00 AM PDT View Details

14 ways to minimize data entry in excel


Jun 23, 2021 | 12:00 PM EDT View Details

regulatory ethics – data

Jun 23, 2021 | 12:00 PM EDT View Details

controller confidential: 4 ways automation powers accounts payable efficiency

Jun 23, 2021 | 12:00 PM EDT View Details

understanding, detecting and preventing payroll fraud


Jun 23, 2021 | 12:30 PM EDT View Details

Course Description

This is an interactive webinar with 75 minutes of presentation time and 25 minutes of Q & A. Where the Instructor would try an answer all the Questions of Attendees as time permits.

Also, this webinar would cover all the updates up until 4th August including the latest guidance given by SBA through Interim Final Rules & FAQs

In a rare display of bipartisanship, on June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA) in an attempt to address many concerns expressed by the small business community around the Paycheck Protection Program (PPP) aimed at providing COVID-19 relief. What are the changes? How are they going to Impact small business and their filings,  we would be covering the details of each and every update in this classes and not just news articles but a finer understanding of the changes & relaxation brought by this bill in the area. Some of the aspects PPPFA that would be covered in  the courses would be

  • Changes in the Spending limits around payroll.
  • Extension in time period to use funds.
  • Extension on deadlines to rehire workers/staff and it's requirements.
  • Extension in repayment terms.
  • Treasury guidelines issued for SBA for loan audits.

Also in the last several weeks, the SBA issued both instructions and forgiveness regulations along with regulations addressing the PPP audit process, Interim final rules, latest Faqs etc. In this class will shall also show the attendees how to complete the form on a line-by-line basis. In a series of instructions only a math major could love, the SBA issued the new “PPP Forgiveness” form and related regulations which involves a myriad of computations and accounting precepts destined to challenge all of us. The “Incurred and paid” statutory guidance being the most perplexing. Largely, because the “incurred and paid” hybrid method of accounting will be nearly impossible to implement. 

While the new SBA instructions offer pragmatic guidance not addressed by the CARES Act, the new rules involve tax and computational items that are that will pose traps for the unwary. The FTE rehiring and reestablishing of wages by June 30, 2020, will also allow borrowers to “cure” the impact of two of the three forgiveness tests. Finally, we will address the newly issued SBA audit and appeal regulations along with the PPP provisions in Congress.

Specifically, this course will focus on:

  • How to complete the SBA forgiveness form
  • Last-minute ideas to maximize forgiveness
  • How to submit the application 10th August and onward
  • Latest Updates, FAQs, Rules etc
  • Building a file in-case of an SBA audit
  • Tricky issues, such as related party rent and contributions to profit-sharing plans
  • How to complete the new SBA forms
  • Understanding the new SBA "PPP Forgiveness" regulations and instructions
  • Impact of the new Rules under the cash and accrual basis of accounting including the Alternative Payroll Covered Period
  • What does “incurred and paid” mean versus “incurred or paid”
  • Forgiveness for rent, payroll and interest expense including related party rent
  • How to account for pension and profit-sharing plans
  • How to determine the amount of the PPP Loan available for forgiveness
  • What are “covered expenses"?
  • How does the "full-time equivalent" ("FTE") test work?
  • Computing the "salary reduction" test
  • Re-hiring employees to avoid the "salary reduction" test
  • Understanding the SBA's "75% payroll" test and the proposed 60% payroll test in the House bill
  • Understanding the PPP aspects of the proposed HEROES bill
  • Understanding the income tax aspects of the proposed HEROES bill
  • Preparing for possible changes from Congress in the bill that passed the House.
This course will cover the latest updates on Paycheck Protection Program loans, including the latest Interim Final Rules released by the Treasury Department on May 22nd relating to loan forgiveness, and as well as a review of the Form 3508 that businesses for applying for loan forgiveness. We will also discuss the latest legislation relating to PPP loans. We will discuss how PPP loans interact with other tax provisions such as the Employee Retention Credit, the tax credits under the Families First Coronavirus Response Act, and the deferral of payments on Social Security tax. We will cover various PPP scenarios and will leave time for answering your questions. 

Learning Objectives

  • Learn the latest legislative updates relating to PPP loans
  • Learn what is in the latest Interim Final Rule from the Treasury Department
  • Learn about the Form 3508 for loan forgiveness
  • Learn how PPP loans interact with other COVID-19-related tax provisions
  • Learn about how tax deductions will work relating to expenses paid with PPP funds
  • Learn about latest definitive rules & FAQs

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Tax Accountant (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA


    [no_of_record] => 1836
    [average] => 4.5730




A Fantastic webinar by Jason, hitting many of the questions that I had regarding the PPE loan forgiveness


Great webinar


this was a great webinar to keep me updated on the PPP loan.


Very well delivered webinar.


Excellent Overall Experience!