Federal Tax Update: End of First Funding Round for PPP Loans

https://vimeo.com/409321320

https://www.currentfederaltaxdevelopments.com/podcasts/2020/4/18/2020-04-20-end-of-first-funding-round-for-ppp-loans  

 

This week we look at:

• SBA issues guidance on self-employed taxpayers and partners for PPP loan program
• Revenue Procedure issued explaining how to deal with retroactive change in life for qualified improvement property
• IRS gives guidance on filing Forms 1139 and 1045 via fax while Service Centers are shut down
• Proposed regulations released to set government portion of PTIN fee at $21
• Procedures issued to deal with Forms 706 returned by private delivery services from closed Service Centers