24Nov
IRS Releases Additional Guidance Regarding Interaction of Employee Retention Tax Credits and PPP Loans in M&A Transactions and Deductibility of PPP Loan Expenditures
Last week, the Internal Revenue Service (IRS) issued additional guidance on two outstanding issues regarding Paycheck Protection Program (PPP) Loans and the Employee Retention Tax Credit (ERTC) provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). First, the IRS updated previously published Frequently Asked Questions (FAQs) to provide helpful clarification of the interaction of the ERTC and PPP Loans in M&A transactions. Second, the IRS issued Revenue Ruling 2020-27...
By:
Wilson Sonsini Goodrich & Rosati
Related
The labor movement sent a powerful and potentially revolutionary signal to the tech industry this pa...
Read More >
Absent a special session or court challenge, which are now unlikely, employers with Dallas or San An...
Read More >
The Occupational Safety and Health Administration (OSHA) published additional frequently asked quest...
Read More >
On July 8, 2020, Federal Trade Commissioner Rohit Chopra released a statement criticizing the practi...
Read More >
In The City of Cleveland v. The State of Ohio, the Ohio Supreme Court upheld Ohio Revised Code 9.75,...
Read More >
A clause stating that a reduction in room size by more than 3% would be “deemed material” related ...
Read More >