Congress has come bearing gifts this holiday season to those businesses hit hard by the ongoing COVID-19 crisis. On December 21, 2020, Congress passed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act...more
Per our May 5, 2020 eAlert, the IRS in Notice 2020-32 concluded that a taxpayer cannot deduct payroll, rent, utilities and other business expenses funded with a forgiven Paycheck Protection Program (“PPP”) loan. The IRS’s...more
Introducing Nossaman's Employment BUZZ webinar series! Each month, our attorneys will cover a different topic of interest to employers, including tax, insurance, intellectual property and employment issues. These "quick hit"...more
10/6/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Human Resources Professionals ,
Internal Revenue Code (IRC) ,
IRS ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Deductions ,
Payroll Taxes ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Deductions ,
Tax Liability ,
Tax Planning ,
Tax Returns
We'll kick off our series on September 22nd as Doug Schwartz and Anna Tang present "PPP Loan Forgiveness – Employment and Tax Issues for Borrowers" . During the presentation, Doug and Anna will discuss:
-When to apply for...more