10Dec
IRS issues new FAQs on the interaction between the employee retention tax credit and PPP loans in M&A transactions
On November 17, 2020, the U.S. Internal Revenue Service (“IRS”) posted new FAQs providing that an acquisition of the stock or assets of a company that has received a loan under the Paycheck Protection Program (the “PPP”) generally will not cause the acquirer and members of its aggregated employer group (as defined below) to jeopardize their employee retention tax credits (“ERTCs”). While the FAQs expressly provide that they cannot be relied upon by taxpayers, and could be withdrawn at any time,...
By:
Proskauer - Tax Talks
Related
And it's a long list. The following cities and counties in California will increase their minimum w...
Read More >
WHAT IS HAPPENING? The State of Victoria has become the latest Australian jurisdiction to make 'Work...
Read More >
A recent Supreme Court of Canada (SCC) decision considered whether a franchisee who entered into a f...
Read More >
The topic of independent contractors has been at the forefront of late, with both the Department of ...
Read More >
The shelf-stable tuna industry has been decidedly unstable behind the shelves. In 2014, two of the “...
Read More >
You have undoubtedly read about the continuing popularity of special purpose acquisition companies (...
Read More >