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 While the FAQs expressly provide that they cannot be relied upon by taxpayers, and could be withdrawn at any time,...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
Spoiler alert - this article doesn’t have anything to do with cats. But it is about something you h...
Read More >
Call Center Company Refused to Accommodate Religious Beliefs and Practices of Employee, Federal Agen...
Read More >
In a straightforward case, but one with widespread applicability today, the 9th Circuit Court of App...
Read More >
Any illusions that OFCCP would disappear during the Trump Administration should have already been pu...
Read More >
Dear YouDig?, We are a tree service contractor and some shady property manager is trying to give us...
Read More >
Welcome to your weekly update from the Allen & Overy Pensions team, bringing you up to speed on the ...
Read More >