Federal Tax Update: CARES Act Developments

 

https://vimeo.com/404360005

https://www.currentfederaltaxdevelopments.com/podcasts/2020/4/5/2020-04-06-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