Shots fired across the bow of well capitalized companies that have applied for and received Payroll Protection Program ("PPP") funds warn that the requirement that a loan must be "necessary to support the ongoing operations of the business" will be enforced, and could cause borrowers to be fined up to $1,000,000 and/or spend up to thirty years in jail. FAQ #31 and #37 indicate that this rule will apply to businesses big and small. Join Alan Gassman and Brandon Ketron in their content-packed webinar for a discussion on what it means to be "necessary to support the ongoing operations" of a business based upon analogous court interpretations, financial modeling, and other pproaches that can be used by advisors in helping to determine whether PPP funds should be accepted, or returned by the upcoming May 7th safe harbor date referred to in FAQ #31.

In their exclusive LISI Webinar Alan and Brandon will discuss the following critical PPP topics:

1. Recently issued SBA FAQ #31 and guidance associated therewith.

2. Senator Marco Rubio’s tweet that any company with revenue to cover its operations is not eligible.

3. Supreme Court interpretations of the meaning of the word necessary.

4. Discussion of how the IRC Section 537 - Accumulated Earnings Tax regulations that provide guidance on "reasonable needs of the business" may be used in a PPP loan need analysis.

5. The vagueness doctrine and how it may apply.

6. The utility of opinion letters and fairness opinions.

7. What costs will count for the 8 week payment/forgiveness expenditures: AICPA comments and other approaches and recommendations.

8. Recently issued SBA Guidance on businesses that have had a recent change in ownership, measuring employee levels for purposes of loan qualification and loan forgiveness, and the SBA’s audit of loan applications.

9. And MUCH MORE!

There will be no CE for this webinar


For those who have a conflict with the date/time, The session will be recorded. Simply register and you will have unlimited access to the recording.

Although they are scheduled for a particular time and date - once purchased - they can be viewed at ANY TIME!.