Current Federal Tax Developments

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2020-04-06 CARES Act Developments This Week Through the Morning of April 5

This week review the status of developing guidance on key provisions of the CARES Act:

  • Recovery Rebate for Individuals, Including Advance Payment

  • Deferral of the Required Minimum Distributions for 2020

  • PPP SBA loan program - things we've learned and things we still need guidance on

  • Forgiveness of PPP loans - are payroll costs different for this than for the maximum loan or not? Does anyone know for sure?

  • Emergency EIDL Loans - the forgotten provision Employee retention payroll credit - the alternative (maybe) to a PPP loan

  • Delay of deposits for employer portion of OASDI taxes - can take if you don't have a PPP loan forgiven

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2020-04-06 CARES Act Developments This Week Through the Morning of April 5 Edward K. Zollars, CPA (Kaplan Financial Education)

This week rather than written text, we are including a PDF of the slides that go along with this week’s presentation:

2020-04-06 Current Federal Tax Developments Slides