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 While the FAQs expressly provide that they cannot be relied upon by taxpayers, and could be withdrawn at any time,...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
On December 5, 2019, the National Toxicology Program (NTP) announced that the NTP Technical Report o...
Read More >
As discussed in an earlier post on this blog, in Intel Corporation Investment Policy Committee et al...
Read More >
In its February 26, 2020, unanimous decision in Intel Corporation Investment Policy Committee v. Sul...
Read More >
When it comes to your health, there are certain symptoms you should look out for that could be a har...
Read More >
The U.S. District Court for the Western District of Wisconsin recently addressed an employer's respo...
Read More >
In proposed regulations released last week, the Department of Labor (DOL) finally put forward a revi...
Read More >