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
A hot topic of discussion in payroll offices around the country is the prospect of new services that...
Read More >
As the coronavirus (COVID-19) spreads to countries around the world, employers are developing polici...
Read More >
In case you haven't already heard, on July 1, 2019, the Equal Employment Opportunity Commission (“E...
Read More >
The UK government has published a policy paper detailing its new points-based immigration system, as...
Read More >
The recent Wuhan coronavirus (2019-nCoV) has brought into sharp focus the need for the government an...
Read More >
Seyfarth Synopsis: In Toomey v. U of Arizona, No. 19-35 (D. Ar. June 24, 2019), the Magistrate Judg...
Read More >