Posts by Aprio Author
Enhancements to the Employee Retention Credit
Monday, December 21st, 2020, Congress passed the Consolidated Appropriations Act of 2021 (the Act) which included several enhancements to the Employee Retention Credit (ERC). The most prominent change is that businesses that received a loan pursuant to the Paycheck Protection Program (PPP) are now eligible for the ERC. The ERC is designed to encourage businesses…
Read MoreAICPA Pushes Back on PPP Loan Necessity Questionnaire Response backed by 80 National Organizations
We previously discussed the U.S. Small Business Administration’s (SBA) issuance of two loan necessity questionnaires, Form 3509 (used by for-profit entities) and Form 3510 (used by nonprofit entities). This issuance was the first indication from the SBA as to how they might evaluate a business who borrowed $2 million or greater, together with their affiliates, “needed” their Paycheck Protection Program (PPP) loan. Upon applying for a PPP loan, all borrowers were required to…
Read MorePPP Loan Forgiveness Application Road Map
IRS Issues New Guidance on Reporting PPP Loan Forgiveness
As more recipients of the PPP loan take steps towards receiving the loan forgiveness provided through the CARES Act, the IRS is releasing more information and guidance for both lenders and borrowers. Most recently, the IRS announced a change in how lenders should handle forgiveness from a filing perspective, deviating from the typical processes when…
Read MoreThe Employee Retention Credit Can Provide Up to $5k per FTE Oct. 31 2020
Businesses that either did not receive a loan through the Paycheck Protection Program (“PPP”) or that repaid their PPP in a timely fashion should explore their eligibility for the Employee Retention Credit (“ERC”), one of the tax-relief provisions of the CARES Act passed on March 27, 2020. The ERC is designed to encourage businesses experiencing…
Read MoreShadow Lending’s Rise Opens New Access to Capital
Once relegated to the dusty niches of capitalism, shadow lending has become a viable and sought-after source of capital that’s prized by borrowers and investors alike. Investors chasing higher yield have embraced shadow lending. The opportunity to earn equity-like returns from the safety of a debt position is a big part of the attraction, while…
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