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
Source Url: https://www.jdsupra.com/legalnews/irs-releases-additional-guidance-54789/
Related
The 16th Amendment to the German Foreign Trade and Payments Ordinance entered into effect on October...
Read More >
Last week, the National Labor Relations Board (“Board”) held that employer policies that prohibit ...
Read More >
This week, the Federal Trade Commission announced its 2020 adjustments to the Hart-Scott-Rodino ("HS...
Read More >
- On February 26, 2020, the NLRB issued a final rule tightening the standard for joint employment un...
Read More >
Antitrust- 10 Attorneys General Sue to Enjoin Merger of Major Wireless Phone Companies- 10 AGs, le...
Read More >
A recent case from the Third Circuit casts a spotlight on many of the problems inherent in so-called...
Read More >