Paycheck Protection Program: An Update on Loan Forgiveness Calculation Webinar (2 Hours)

Overview: 

The new $900B stimulus package signed into law on December 27, 2020, extends the Paycheck Protection Program (PPP) that was created to assist small businesses impacted by COVID-19. This comprehensive webinar will cover everything you need to know about the revised program, including how it affects current and future loans, and how the loan is calculated and forgiven. You will:

  • Gain an in-depth understanding of the loan process
  • Explore provisions of how a loan is forgiven
  • Identify what has changed
  • Learn how to properly calculate the amount of PPP loan principal that may be forgiven

     

Objective: 

To provide CPAs and other financial professionals with an understanding of the revised and extended Paycheck Protection Program signed into law on December 27, 2020. Learn who qualifies, what is covered, and which previous recipients are entitled to a “second draw” loan.
 

Additional New Webinars on COVID-19:

Accounting for Debt Restructuring during Uncertain Financial Times Webinar (2 Hours)

COVID-19: The New Legal Landscape for Employers and Employees Webinar (1.5 Hours)

Cybersecurity in a Business World Impacted by COVID-19 Webinar (1.5 Hours)

Exploring the Long-Term Economic Impact of COVID-19 Webinar (1 Hour)

Financial Leadership during the COVID-19 Crisis: An Expert Panel Discussion Webinar (1 Hour)

Impact of COVID-19 on Complying with SEC Requirements, including ICFR Compliance Webinar (1 Hour)

Impact of COVID-19 on Financial Reporting & Disclosures Webinar (4 Hours)

International Cash & Treasury Management in a COVID-19 Business World Webinar (1.5 Hours)

Lease Modifications: ASC 842 & COVID-19 Impact Webinar (1.5 Hours)

Managing Global Contracting during the COVID-19 Crisis Webinar (1 Hour)

Recent Developments at the FASB & IASB in Response to COVID-19 Webinar (1.5 Hours)

Recent Developments in Transfer Pricing, including the Impact of COVID-19 Webinar (1 Hour)

Sales Tax Strategies during the Economic Disruption of the COVID-19 Outbreak Webinar (2 Hours)

Tax Aspects of the "Coronavirus Aid, Relief & Economic Security (CARES) Act" Webinar (3 Hours)

Tax Planning for 2020/2021 & Beyond: Biden Agenda, PPP Forgiveness & More (3-Hour Webinar)
 

Emphasis: 
  • The Loan Process
    – Eligible loan calculation
    – Certifications
    – Covered period/alternative
       payroll covered period
  • Loan Forgiveness
    – Forgiveness overview
       – Maximum amount forgivable
       – Forgiveness tests
    – Percentage use of payroll
    – Salary reduction
    – Headcount Comparison
    – Safe-harbor rules and
       calculation—FTE
       (Full-time Equivalent)
    – Forgiveness application
       – Forms 3508EZ, 3508S, 3509
          and 3510
    – Documentation
  • Paycheck Protection—Recent Changes
    – Under the Act
    – Tax Treatment
    – Second draw (PPP2)
       – Eligibility
       – Loan amount
    – Certifications
    – Additional eligible expenses
    – Request increase in loan
    – Other changes
    – Proposals on the table/
       clarifications
Bottom
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
2.00
NASBA Field of Study: 
Finance