Webinar: Unpacking PPP Updates from the Latest Stimulus Bill|
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The Consolidated Appropriations Act, 2021 (the Act) was passed by Congress on December 21 and includes some significant changes to the Paycheck Protection Program (PPP). The Act not only provides for a second draw for certain borrowers, but it includes a flurry of changes to existing PPP loans, highlighted by modifications to the tax implications, eligibility for the Employee Retention Credit and a more simplified forgiveness process for loans $150,000 and below.
Watch Aprio’s experts as they discuss:
- Tax implications of PPP funds
- Eligibility for the Employee Retention Credit
- Second draw loans
- Simplified forgiveness
- And more!
Aprio PPP and ERC expert panelists include :
- Justin Elanjian, Partner, Assurance Services
- Tommy Lee, Partner-in-Charge, Retail, Franchise & Hospitality
- Chris Williamson, Senior Manager, Transaction Advisory Services
- John Santamour, Tax Partner
- Craig Fisher, Tax Manager
Disclaimer for services provided relative to SBA programs and the CARES Act
Aprio’s goal is to provide the most up to date information, along with our insights and current understanding of these programs and regulations to help you navigate your business response to COVID-19.
The rules regarding SBA programs are constantly being refined and clarified by the SBA and other agencies In certain instances, the guidance being provided by the agencies and/or the financial institutions is in direct conflict with other competing guidance, regulations and/or existing laws.
Due to the evolving nature of the situation and the lack of final published rules, Aprio cannot guarantee that additional changes or updates won’t be needed or forthcoming and the original advice given by Aprio may be affected by the evolving nature of the situation.
You need to evaluate and draw your own conclusions and determine your Company’s best approach relative to participation within these programs based on your Company’s specific circumstances, cash flow forecast and business strategy.
In situations where resources are provided by third parties, those services should be covered under a separate agreement directly with that service provider. Aprio is not responsible for the actions of any other third party.
Aprio encourages you to contact your legal counsel to address the legal implications of the impact of the CARES Act and specifically your participation in any of the SBA programs.