Avatar Avatar

SBA Issues CRITICAL FRAUD WARNING to PPP borrowers. : Protecting Your Clients Against Question 31 of the PPP FAQs: “Go directly to jail, do not pass Go, do not collect $200”



Watch Now!
Recording and Slides are Available Here


On April 23, 2020, the SBA issued a new set of Frequently Asked Questions. The final question, Question 31 reads: "Do businesses owned by large companies with adequate sources of liquidity to support that business’s ongoing operations qualify for a PPP loan?" In a lengthy answer the SBA raises the subjective question of whether a reasonably well-capitalized business, in fear of the length of the COVID-19 pandemic, can even borrow under this program?

Join attorney Martin Shenkman, CPA, MBA, PFS, AEP, JD, and Bob Keebler, CPA/PFS, MST, AEP (Distinguished) to discuss this totally unexpected development.  In this class Marty and Bob will cover the following:

1)            An in-depth review and line-by-line analysis of SBA FAQ question 31

2)            Review of serious criminal sanctions in the loan application

3)            Review of the criteria in the loan application

4)            Review of the criteria in Section 1102 of the CARES ACT

5)            Review of the criteria in the regulations

6)            Board range of economic projections depending upon the virus itself and medical developments

7)            What is the client has an existing large line-of-credit source of funding?

8)            What about businesses thriving or at least staying afloat?

9)            Reviewing balance sheets, income statements and cash-flow statements

10)         Documentation of the need for the loan via financial projections

11)         Modeling outcomes considering the COVID-19 Pandemic

12)         Will CPA comfort letters be helpful?

13)         Repayment of the loan by May 7th to avoid this entire issue?



There will be no CE for this webinar


For those who have a conflict with the date/time, The session will be recorded. Simply register and you will have unlimited access to the recording.

Although they are scheduled for a particular time and date - once purchased - they can be viewed at ANY TIME!.

If you are not a LISI member please use the Buy Now Button below to pay the non-member price of $149.

Registrant Email:

After you pay you will be sent a link with the registration information. Your webinar registration is designed for one individual user and groups up to 5 individuals. Sharing beyond this is not permitted. If you are interested in group access to our webinar content, please send an email to lisiwebinars@gmail.com

If you have any questions, please contact webinaradmin@leimbergservices.com

NOTE: To pay using a credit card, use the botton labeled
"Pay with Debit or Credit Card" after clicking the Buy Now button below.

If you are a LISI member, please login below to receive the member price of $129 for this webinar.

Forgot Password?

To become a LISI member Click Here

Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished) is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils. He has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. Mr. Keebler is the past Editor-in-Chief of CCH's magazine, Journal of Retirement Planning, and a member of CCH's Financial and Estate Planning Advisory Board. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals. In the past 20 years, he has received over 250 favorable private letter rulings including several key rulings of ""first impression."" Mr. Keebler is nationally recognized as an expert in estate and retirement planning and works collaboratively with other experts on academic reviews and papers, and client matters. Mr. Keebler is the author of over 75 articles and columns and editor, author, or co-author of many books and treatises on wealth transfer and taxation, including the Warren, Gorham & Lamont of RIA treatise Esperti, Peterson and Keebler/Irrevocable Trusts: Analysis with Forms. Mr. Keebler is the Chair of the AICPA's Advanced Estate Planning Conference. He is a featured columnist for CCH's Taxes Magazine - ""Family Tax Planning Forum,"" Bob is also a contributing author to the American Bar Association's The ABA Practical Guide to Estate Planning. Robert.Keebler@KeeblerandAssociates.com


Avatar

Bob Keebler

August 12, 2020 3pm 4:30 pm ET ET

NEW PPP LOANS FOR BUSINESSES SUFFERING A 50 Percent REVENUE LOSS AND OTHER INCENTIVES IN THE AUGUST STIMULUS BILL - A FIRST LOOK

More Info
Avatar Avatar

Paul Hood Ed Morrow

August 13, 2020 1:00PM ET - 2:30PM ET ET

A Planner's Cheat Sheet for Evaluating Estate Planning Tools & Techniques: Part 2

More Info
Avatar Avatar

Martin Shenkman Eido Walny

August 14, 2020 3:00PM ET - 4:30PM ET ET

Martin Shenkman Eido Walny: Planning for Athletes

More Info
Avatar

Bob Keebler

August 19, 2020 3:00 PM ET - 4:30 PM ET

Year-End Planning in 2020: Including Planning for a Potential Biden Administration - A Special Re-Broadcast

More Info
Avatar

Larry Katzenstein

August 20, 2020 3:00PM ET - 4:30PM ET

Incredible Low Interest Rates Present Once in a Lifetime Estate and Charitable Planning Opportunities!

More Info
Avatar

Steven Siegel

August 21, 2020 3:00PM ET - 4:30PM ET

The Perfect Storm of Bad News and Planning Opportunities for 2020 & Beyond: Crucial Planning Decisions for the 99%

More Info
Avatar

Steven Siegel

August 27, 2020 3:00PM ET - 4:30PM ET

Domicile Planning: Shopping and Changing – Is It Time to Get Out of Dodge?

More Info
Avatar Avatar

Paul Hood Ed Morrow

August 27, 2020 1:00PM ET - 2:30PM ET

A Planner's Cheat Sheet for Evaluating Estate Planning Tools & Techniques: Part 3

More Info
Avatar

Richard Nenno

September 17, 2020 3:00PM ET - 4:30PM ET ET

The Delaware Trust Option for Californians and Non-U.S. Individuals

More Info