19Nov
IRS Eases PPP Loan Stumbling Block in M&A Deals
The IRS’s informal FAQs provide comfort that an acquirer, including affiliated companies treated as a single employer (employer group), will not lose its past or future employee retention tax credits (ERTCs) if it acquires a target with a Paycheck Protection Program (PPP) loan outstanding on or any prior to closing (if after May 18, 2020). Going forward, private equity and strategic buyers should be relatively unconcerned by targets with outstanding PPP loans....
By:
Pillsbury Winthrop Shaw Pittman LLP
Related
On September 13, 2019, the FDIC released the latest results of its annual summary of deposits survey...
Read More >
Certified Rigger Fired Due to Epilepsy, Federal Agency Charged - SEATTLE - Bellingham, Wash.-based...
Read More >
Whistleblower issues are in the news, mainly because a U.S. intelligence officer recently filed a co...
Read More >
On July 22, 2019, the Ninth Circuit withdrew its recent decision applying the landmark employee/inde...
Read More >
When a private equity (PE) firm acquires a closely held business, it is quite common for the seller ...
Read More >
Agspring Holdco, LLC v. NGP X US Holdings, L.P., C.A. No. 2019-0567-AGB (Del. Ch. July 30, 2020) - ...
Read More >