The ABA Virtual 2021 Midyear Tax Meeting will discuss the latest federal, state, and local tax policies, and more. Partner Stephen Ruscus will moderate the panel “Loan Forgiveness Under the Paycheck Protection Program (PPP).”
This panel will provide an update on the latest regulatory requirements applicable to organizations participating in PPP. Topics will include loan forgiveness eligibility, information reporting of the “business activity assessment” on new SBA Form 3510 for nonprofits and comparison to the “liquidity assessment” applicable to for-profit organizations, the “necessity certification” and repayment obligation, SBA administrative enforcement of the PPP, tax treatment of PPP loans both before and after they are forgiven, and Form 990 reporting.
CLE credit: For more information, visit the ABA Mandatory CLE page.