COVID-19: Updated PPP Loan Provisions and Forgiveness

Monday, March 29 11:30am - 2:30pm

(Check-In 11:15am)

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Online

3.00 Credits

Member Price $99.00

Non-Member Price $159.00

Overview

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. 
 
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this course include:

  • • 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

Prerequisites

Basic working knowledge of practice management.

Designed For

CPAs in public practice seeking an update on the latest tax developments affecting loans and loan forgiveness.

Objectives

To provide an exploration of numerous practice situations occasioned by the loan-related provisions in the COVID-19-related legislation.

Notice

You will receive an email from CPA Crossings with your access instructions for this webinar.

Leader(s):

Leaders

Steven Dilley

Steve is President of Federal Tax Workshops, Inc., East Lansing, Michigan, where for the past 33 years, his organization has prepared continuing professional education materials and presented seminars for accountants and attorneys throughout the United States. 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 Professor of Accounting at Michigan State University, East Lansing, where he teaches tax accounting. He received the 2005 "Distinguished Achievement in Accounting Education Award" in Michigan. He also received the 2007 "MSU Accounting and Information Systems Department Outstanding Teacher Award."

He obtained his Ph.D. 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.

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Non-Member Price $159.00

Member Price $99.00