PPP update: loan forgiveness and tax implications

The news surrounding Paycheck Protection Program (PPP) loans has been increasing steadily the past few weeks as more businesses apply for forgiveness.  Further the Consolidated Appropriations Act, 2021 (the Act) not only creates additional funding for and modifications to PPP loans,  it also overrides the Treasury Department’s guidance, thus allowing expenses funded by forgiven PPP loans to be deductible for federal income tax purposes.    

In this on-demand webinar, hosted in association with ALA (Association of Legal Administrators), our PPP loan specialists discuss the above topics, as well as further insights and takeaways.  Topics include:

• What Baker Tilly is hearing from banks during the submission process
• Uncertainty with loans over $2 million
• Common PPP pitfalls and how to avoid them

Presenters:

• Pauline Dumas, Director
• Adam Goehring, Partner
• Jessica Mastropietro, Partner