Current Federal Tax Developments

Keeping CPAs Up to Date on Tax Matters

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NJCPA PPP Loan Forgiveness and Other Recent COVID-19 Developments

  • Slides

  • Recent SBA Guidance

    • FAQ on PPP Loan Forgiveness Issued by SBA with Some Surprises on Shareholder-Employee Payroll Costs

    • Guidance Issued in the Form of FAQs on Interaction of EIDL Advances and PPP Loan Forgiveness

    • SBA Updates PPP FAQ With Information on Third Party Fees and Insurance Qualifying as Payroll Costs

    • SBA Publishes Interim Final Rule on Appeal Procedures for Certain SBA Decisions Regarding a Borrower's PPP Loan

    • SBA Defines Owner-Employees as Those Holding a 5% or More Interest, Clarifies Certain Lease Nonpayroll Cost Issues in New PPP Forgiveness IFR

  • Payroll Tax Holiday

    • Guidance Issued on Deferral of Employee OASDI Withholding Set to Begin on September 1

    • Draft Form 941 Issued to Add Line to Deal with Payroll Tax Holiday Employee OASDI Tax Deferral

    Update Video (Not Much Took Place Since the Original Recording on 9/1/20)

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