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
Primary HSR filing threshold will be raised to $94 million - The Federal Trade Commission has anno...
Read More >
Continuing a welcome holiday tradition, the Internal Revenue Service has given applicable large empl...
Read More >
Bass, Berry & Sims attorney Chris Lazarini outlined a court’s decision to uphold a permanent injunc...
Read More >
California employers need to pay heed to the recently announced California Division of Occupational ...
Read More >
In January 2017, the Department of Homeland Security (DHS) proposed to change the EB-5 Visa regulati...
Read More >
In a pair of recently issued decisions, the Department of Labor’s Administrative Review Board (ARB)...
Read More >