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PPPFA UPDATES (WITH LATEST GUIDANCE FROM SBA TILL AUG 5TH)

4.6 (490)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

Thursday, August 13, 2020 | 12:00 PM EDT

  • CPA
  • EA

1 Credit

$10

Subject Area

Taxes

Course Description

This is an interactive webinar with 40 minutes of presentation time and 20 minutes of Q & A. Where the Instructor would try an answer all the Questions of Attendees as time permits. Also, this webinar would not go details of PPP or PPPFA and would cover latest updates up until 4th August including the latest guidance given by SBA through Interim Final Rules & FAQs. So this webinar is meant for people who has basic knowledge of PPP & PPPFA. This is not a regular traditional CPE webinar but would be fast paced presentation packed with information & updates.

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. 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.
  • With Latest Interim Definite Rules & FAQs give by SBA
  • How to complete forgiveness form.

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 forgiveness form.

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.

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

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Bookkeeper
  • Chief Accounting Officer
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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(
    [no_of_record] => 490
    [average] => 4.5510
)
 

4.6

(490)
63%
29%
7%
0%
0%

MD

Jason is an excellent instructor ! His materials were thorough and logical as he led us through the process step by step. He informed us of which parts of the process were already mandated and which areas still need more guidance from the government. His insights about the risks and rewards of different interpretations of the CARES Act were very helpful.

UN

I enjoy Mr. Jason's listening webinars because he is an informed and interesting presenter. His seminars are fast paced and engaging - never boring. He was hilarious and knowledgeable, kept my interest while shedding light on the this confusing topic.

TL

After sitting on several client's seminars presented by their bank regarding the same subject, this was a very refreshing change of pace where the presenter does not spend any time on lauding them self but instead helps empathize the problems and tribulations of paying back a PPP vs applying for loan forgiveness. Excellent presentation!

TR

Jason webinars are excellent! Always my go to source for a clear, knowledgeable, up to date webinar with some humor too! Including great slides for later reference. This time on the PPP loan forgiveness "maze". He did a great job of presenting volumes of info in a well organized manner!

MM

This is exactly what I needed to help answers some questions that I had navigating through the Forgiveness process. It was also good to see I was not alone in the questions I had about the "grey" areas and non-linear application of the Forgiveness process.

LS

The content was carefully explained with charts and Power Point. The material, although subject to change, was presented in an organized and humorous fashion, I thought it was presented well and the speaker wasn't boring and didn't add unnecessary information.