Avatar Avatar

What is Necessary, What is New? A Discussion of the SBA FAQ #31 and Other Hot Topics for PPP Loans, Including Repayment and Forgiveness Rules



Watch Now!
Recording and Slides are Available Here


Shots fired across the bow of well capitalized companies that have applied for and received Payroll Protection Program ("PPP") funds warn that the requirement that a loan must be "necessary to support the ongoing operations of the business" will be enforced, and could cause borrowers to be fined up to $1,000,000 and/or spend up to thirty years in jail. FAQ #31 and #37 indicate that this rule will apply to businesses big and small. Join Alan Gassman and Brandon Ketron in their content-packed webinar for a discussion on what it means to be "necessary to support the ongoing operations" of a business based upon analogous court interpretations, financial modeling, and other pproaches that can be used by advisors in helping to determine whether PPP funds should be accepted, or returned by the upcoming May 7th safe harbor date referred to in FAQ #31.

In their exclusive LISI Webinar Alan and Brandon will discuss the following critical PPP topics:

1. Recently issued SBA FAQ #31 and guidance associated therewith.

2. Senator Marco Rubio’s tweet that any company with revenue to cover its operations is not eligible.

3. Supreme Court interpretations of the meaning of the word necessary.

4. Discussion of how the IRC Section 537 - Accumulated Earnings Tax regulations that provide guidance on "reasonable needs of the business" may be used in a PPP loan need analysis.

5. The vagueness doctrine and how it may apply.

6. The utility of opinion letters and fairness opinions.

7. What costs will count for the 8 week payment/forgiveness expenditures: AICPA comments and other approaches and recommendations.

8. Recently issued SBA Guidance on businesses that have had a recent change in ownership, measuring employee levels for purposes of loan qualification and loan forgiveness, and the SBA’s audit of loan applications.

9. And MUCH MORE!



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

Alan S. Gassman, J.D., LL.M., is a partner in the law firm of Gassman, Crotty & Denicolo, P.A., and practices in Clearwater, Florida. He is a frequent contributor to LISI, and has published numerous articles and books in publications such as BNA Tax & Accounting, Estate Planning, Trusts and Estates, Interactive Legal and Haddon Hall Publishing. The Alan Gassman Channel at Interactive Legal has recently opened, and features many books and resources, including many Florida and Federal based materials, forms and resources. He is also the Moderator for Bloomberg BNA's 2017 Estate Planning Webinar Series. On February 24th Alan and his partners Christopher Denicolo and Ken Crotty will present a Bloomberg BNA Webinar at 12:30 EST on Innovative Trust Planning for Uncertain Times. You can contact Alan at agassman@gassmanpa.com for more information with respect to these programs. 



Avatar Avatar

Alan Gassman and Jerry Hesch

November 24, 2020 3:00PM ET - 4:30PM ET ET

The Year-End CLAT: Where Is Your Client At? - A Special Re-Broadcast

More Info
Avatar

Ed SLott

November 25, 2020 3:00PM ET - 4:30PM ET ET

‘Tis the Season for Gift Planning: Planning for lifetime transfers BEFORE Year-End 2020

More Info
Avatar Avatar

Paul Hood and Bob Keebler

November 25, 2020 1:00 PM 2:30 PM ET ET

Nelson v. Commissioner – The Next Chapter in Protective/Defined Value Gift and Sale Clauses - A devastating loss for the Taxpayer - A Special Re-Broadcast

More Info
Avatar Avatar Avatar

Alan Gassman Michael Lehmann Brandon Ketron

November 30, 2020 3:00PM ET - 4:30PM ET ET

GIVING APPRECIATED ASSETS TO CHARITY AND OTHER OPPORTUNITIES: Technical Rules that Provide Solid Tax and Practical Opportunities for Taxpayers and their Charities and Family Members.

More Info
Avatar Avatar Avatar

Alan Gassman Jerry Hesch & Brandon Ketron

December 03, 2020 3:00PM ET - 4:30PM ET

PPP BORROWER TAX PLANNING---AVOIDING DISASTER AT THE INTERSECTION OF HWY 265 AND THE PPP EXPRESSWAY AFTER REVENUE RULING 2020-27 AND REVENUE PROCEDURE 2020-51 WHETHER AND WHEN TO DEDUCT, AND HOW TO HANDLE ASSOCIATED ISSUES

More Info
Avatar

Steve Siegel

December 03, 2020 1:00PM ET - 2:30PM ET

Last Minute Planning for 2020: Practical and Timely Suggestions

More Info
Avatar Avatar Avatar

Jerry Hesch, Alan Gassman and Brandon Ketron

December 04, 2020 1:00PM ET - 2:30PM ET

What The CRUT? Is It Time to Put One Up?

More Info
Avatar

Ed Slott

December 04, 2020 3:00PM ET - 4:30PM ET

‘Tis the Season for Gift Planning: Planning for lifetime transfers BEFORE Year-End 2020, A Special Rebroadcast

More Info
Avatar Avatar

Paul Hood Ed Morrow

December 10, 2020 1:00PM ET - 2:30PM ET ET

Can YOU BDIT? BDIT's and BDOT's..."The Beneficiary Defective Inheritor's Trust" and "The Beneficiary Deemed Owned Trust." What are they? How do they work? Concerns and Best Practices"

More Info
Avatar

Bob Keebler

December 11, 2020 3:00PM ET - 4:30PM ET ET

Mathematically Oriented Planning Techniques: How They are Quantified to Determine the Techniques Best Suited for a Particular Client

More Info
Avatar

Mark Merric

December 18, 2020 3:00PM ET - 4:30PM ET ET

Part 2: Mark Merric’s Asset Protection Trilogy

More Info
Avatar

Bob Keebler

December 31, 2020 3PM 4:30 pm ET ET

NEW PPP LOANS: Phase 4 Coronavirus Package – A First Look

More Info
Avatar

Eric Green

January 8, 2021 3:00PM ET - 4:30PM ET ET

Dealing with an IRS Exam: From Initial Contact to Closing Agreement

More Info
Avatar

Eric Green

January 14, 2021 3:00PM ET - 4:30PM ET ET

The IRS Collection Process: From Billing Notice to Offer-in-Compromise Acceptance Letter

More Info
Avatar

Eric Green

January 15, 2021 3:00PM ET - 4:30PM ET ET

Criminal Tax for Accountants

More Info
Avatar

Mark Merric

January 22, 2021 3:00PM ET - 4:30PM ET ET

Part 3: Mark Merric's Asset Protection Trilogy

More Info