X
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
Source Url: https://www.jdsupra.com/legalnews/irs-eases-ppp-loan-stumbling-block-in-m-19421/

Related

Web Exclusive: How Anti-Fraternization Policies Can Ensure A Happy Valentine’s Day

Valentine’s Day is fast approaching, which means love in the air – and employers should beware. St...

Read More >

Breathing Room? California Legislature Passes Two Major Amendments to California Consumer Privacy Act (CCPA)

Businesses may receive a bit of breathing room as a result of two amendments to the California Consu...

Read More >

[Video] Hutchison Assists Technology Startup Companies Close Deals with Investors Video

Hear how Hutchison PLLC provides strategic guidance to technology entrepreneurs to help them navigat...

Read More >

Changes Affecting Employer-Sponsored Health Plans in the 2020 Appropriations Act

The 2020 appropriations act, which was signed into law by the President on December 20, 2019, contai...

Read More >

Speculating About Employee's Medical Condition May Lead to ADA Claim

The Americans with Disabilities Act not only protects persons with actual medical conditions but als...

Read More >