Since the signing of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law in March, a number of interim rules have been issued by the Small Business Administration (SBA) significantly changing provisions of the Paycheck Protection Program (PPP) and providing needed clarification. Even with additional guidance from SBA and more time to use their PPP loans, business owners and tax-exempt organizations are encountering a number of challenges. From tracking internal expenses to qualifying for forgiveness (and that application process), many questions remain unanswered for small businesses and nonprofits.
Join GRF’s accounting, audit and tax experts for an interactive discussion on accounting for PPP loans and maximizing the likelihood for loan forgiveness. Our speakers will also detail practical steps to ensure that your organization is ideally positioned for loan forgiveness as well as future financial challenges as the pandemic continues.
- Recent updates on PPP loan program
- Extension of the deadline for using PPP loans
- Record keeping options, including AICPA guidance on loans and conditional grants
- Completing the loan forgiveness application, including the new Form 3508EZ
- Effects on the Federal Form 990 and additional tax impacts
Additional program details:
- Learning Objective: To provide attendees with an overview of PPP loans and strategies to maximize loan forgiveness.
- Instructional Delivery Methods: Group Internet-based
- Recommended CPE: 1.5 CPE
- Recommended Fields of Study: Accounting – Technical
- Prerequisites: None Required
- Advance Preparation: None
- Program Level: Basic
- Course Registration Requirements: None
- Refund Policy: No fee is required to participate in this session.
- Cancellation Policy: In the event that the presentation is cancelled or rescheduled, participants will be contacted immediately with details.
- Complaint Resolution Policy: GRF CPAs & Advisors is committed to our participants’ 100% satisfaction and will make every reasonable effort to resolve complaints as quickly as possible. Please contact firstname.lastname@example.org with any concerns.
Amy Boland, CPA | Partner, Audit
Elinor Litwack, CPA | Partner, Outsourced Accounting & Advisory Services
Richard J. Locastro, CPA, JD | Partner and Director, Nonprofit Tax
Troy Turner, CPA | Vice President, Partner and Director, Tax