PPP Loan Forgiveness and Federal Income Tax Treatment of PPP Expense (2 hours – afternoon) – NEW! Webcast

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Oct 27, 2020

Registration: 1:30 PM / Program: 2:00 PM - 4:00 PM Pacific Time

Fees

Member Fee: $0.00
Nonmember Fee: $0.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

Most CPAs are being bombarded with the following two questions from their clients:

  1. When and how can I file for PPP forgiveness?
  2. How will the expenses paid with PPP funds be treated for tax purposes?

Join Greg White and George Koutelieris as they will be providing answers and insights to help you provide answers to those two very important questions.

The following items will be covered in this 2-hour course:

  • What form can and should your client use?
  • Planning strategies for Full-Time Equivalent (FTE) reductions?
  • What documentation needs to be submitted with the forgiveness form?
  • Did the IRS get it right with Notice 2020-32?
  • Can your client deduct some or all of the PPP related forgiven expenses and do you need to include a Form 8275 or 8275R in order to take that position?

Designed For

Practitioners advising individual and business clients.

Objectives

  • Understanding how forgiveness applications apply to your clients.
  • Understanding the timing of when to file.
  • Compute the amount of debt forgiveness.
  • Develop a game plan with clients related to income tax impact of PPP forgiven expenses. 
  • Identify remaining areas where we still lack guidance.

Major Subjects

  • Practical planning ideas to maximize forgiveness.
  • Examples of the forgiveness applications, including using the NEW Form 3508S.
  • In depth dive into Notice 2020-32 and Greg and George’s view of counter arguments to the IRS’s position.

If you would like to register for this event, please contact OSCPA at 800-255-1470, 503-641-7200, or email profdev@orcpa.org.