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 While the FAQs expressly provide that they cannot be relied upon by taxpayers, and could be withdrawn at any time,...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
To many employees, being written up is perceived as another way of being told that someone is the bo...
Read More >
In an effort to prepare to restart construction on suspended projects after imposing pandemic-relate...
Read More >
With data privacy issues constantly in the news, what do businesses need to know about handling pers...
Read More >
This update provides an overview of key regulatory developments in the past three months relevant to...
Read More >
M&A transactions can have big implications for your company's nexus footprint. In part two of the se...
Read More >
New York State’s deadline for training employees on preventing sexual harassment and discrimination...
Read More >