PPP Update: SBA Releases August 24th IFRs That Place Limitations on Payments to Related Parties
On August 24th, the SBA issued the first guidance received since August 11th in new Interim Final Rules that provide limitations on payments to related parties, clarify when a shareholder in an S or C Corporation is subject to the owner-employee limitations on compensation, and guidance on the treatment of expenses when a portion of a borrower's leased premises are sublet to a subtenant.
Join Brandon Ketron and Kevin Cameron for their exclusive LISI Webinar webinar discussing these new rules and the repercussions associated with these important changes. Their webinar will cover the following topics:
- Coverage of the August 24th Interim Final Rules
- How rent paid to a related party is treated and who is considered to be "related" for purposes of this new rule
- Discussion of the owner-employee limitations and who is considered to be an "owner" for purposes of the limitations
- Coverage of FAQs released August 4th
- Review of the FTE safe harbors and exceptions to maintaining full employment
- An update on what Congress is doing and the potential for a second round of PPP loans
- A hypothetical case study and guide to filling out the PPP Forgiveness Application
- AND MUCH MORE!
There will be no CE for this webinar
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