2020 10 12 Simplified PPP Forgiveness Application for Small Loans
This week we look at:
SBA's simplified Form 3508S for PPP forgiveness and the regulations authorizing its use for loans of $50,000 or less
Lenders told what to do when borrowers supply more expense documentation than necessary for full PPP loan forgiveness
Pre-PPPFA loan documents do not need to be modified to obtain PPPFA longer deferral period
QR codes will be added to CP14 and CP14 IA notices beginning later this month
SIFL rates for last half of 2020 published
Taxpayer finds no relief available for payroll taxes paid years earlier on nonqualified deferred compensation that will not paid due to subsequent bankruptcy of the employer
An audio only version of the broadcast can be streamed or downloaded below:
A PDF of this week’s articles on the updates can be downloaded below: