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
Following our client alert published on October 12, 20201, described below are the projects announce...
Read More >
Dechert partnered with Getting the Deal Through and Law Business Research on their annual Market Int...
Read More >
In case you missed it, on July 1, 2019, the Chicago and Cook County Minimum Wages increased as follo...
Read More >
Effective July 19, 2020, pursuant to new legislation signed by New Jersey Governor Phil Murphy on Ja...
Read More >
On Friday, the First District attempted to resolve a split of authority among California’s appellat...
Read More >
In Canada, if an employer wishes to terminate an employee without cause, it must provide notice or p...
Read More >