COVID-19 UPDATE 29
AMERICAN ROAD & TRANSPORTATION BUILDERS ASSOCIATION SCHEDULES LATEST UPDATE WEBINAR ON THE PAYCHECK PROTECTION PROGRAM
The American Road & Transportation Builders Association (ARTBA) has scheduled an important webinar to review the latest updates on the “Paycheck Protection Program” (PPP), that is administered by the Small Business Administration (SBA) as a result of legislation enacted as part of the CARES Act COVID-19 relief bill. The PPP program has been subject to on-going rules and changing requirements. Recent IRS guidance and a Department of Defense preliminary interpretation has created some questions and concerns for the construction industry.
Under certain requirements, employers can convert their loans into grants. While the program has proven to be very popular, its administration has proven to be confusing. New guidance is being issued by the SBA daily. Some companies that applied for and received loans are now questioning their initial decision to participate in the program. ARTBA’s webinar will bring you up to date on all of the issues concerning the PPP program, including how companies can document “good faith” decisions to participate in the program, the tax deductibility of expenses related to PPP loans, how “affiliate” rules for the program impact construction companies and other recent developments. The discussion will be led by a panel of experts from Ernst & Young.
The webinar is scheduled for May 13, 2020 at 3:00 pm.
All participants are required to register for this event. Registration is free for ARTBA members and $199 for non-members.
______________________________________
If anyone has questions concerning this notice, please contact us at the UTCA office 732-292-4300.
