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Now that borrowers have exhausted their PPP loan funds, attention turns to the application for forgiveness process and issues.  In this session we'll look at the options borrowers have when applying for forgiveness, as well as the pros and cons of applying immediately for forgiveness or waiting a while before starting the application process.  We'll also look at any recent developments arising as Congress considers additional relief provisions and the Administration begins implementing their own programs.

Objectives

Participants will be able to: 

  • Identify the issues and responsibilities related to applying for PPP loan forgiveness 
  • Understand the pros and cons of applying immediately or waiting
  • Explain recent developments arising related to other potential relief provisions and programs

Highlights

  • Review of eligible payroll and non-payroll costs for forgiveness, including additional guidance on health care and retirement costs issued by the SBA
  • The various special safe harbors for avoiding or reducing the impact of the FTE reduction of forgiveness
  • The SBA’s process for forgiveness applications and the appeals process available to borrowers
  • Accounting issues that arise with PPP loans, both before and after forgiveness
  • Payroll tax deductions for employees – beginning after the deferral period

Who Will Benefit

Tax, accounting, financial professionals who want up-to-date information on PPP loan forgiveness and other recent tax developments

Credits

Category Amount
Tax 4.00
Yikes, the time is near. Please call NMSCPA at (505) 246-1699 to register.

Leaders

  • Edward Zollars

    Edward K. Zollars, CPA, is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He has been in practice for over twenty five years, specializing in tax issues for closely held businesses and individuals. Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues, and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop’s Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs. Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010. Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA’s Accountants Forum in the mid 1990s. He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.

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