Discover and read the best of Twitter Threads about #SBALoans
Most recents (2)
1) On Friday @IRSnews issued NEW #FAQs resolving whether an employer that receives a #PPP #Loan may defer Employer portion of #socialSecurityTaxes under #CARESAct irs.gov/newsroom/defer…
2) Employers receiving #PPPloans may not defer the deposit&payment of the Employer share of #SocialSecurity tax "otherwise due AFTER the employer receives a decision from the lender that the loan was forgiven." #IRSFAQ #1
3) The deferral applies to deposits&payments of an Employer's share of #SocialSecurity #tax that would otherwise be required to be made during the "Payroll Tax Deferral Period" (March 27 through December 31, 2020). #CARES #Section2302 @IRSnews #FAQ 2
@bijans @trevorloy So, a few things:
1) we've been saying that the analysis is 301(f), not full 103. That's important because 301(f) = way better for Venture-backed #startups seeking #SBALoans. See @Forbes forbes.com/sites/edwardzi…
1) we've been saying that the analysis is 301(f), not full 103. That's important because 301(f) = way better for Venture-backed #startups seeking #SBALoans. See @Forbes forbes.com/sites/edwardzi…
@bijans @trevorloy @Forbes 2) Treasury's release from last night confirms this understanding of the plain language of the #affiliationRules applied to #PPP for #SBALoans under #Section7a (cc @DougBernstein who shared our view/analysis from early on)
home.treasury.gov/system/files/1…
home.treasury.gov/system/files/1…
@bijans @trevorloy @Forbes @DougBernstein 3) Here's how we read the language @trevorloy quoted (we start with 301(f) (as per what we published last Monday) lowenstein.com/news-insights/… cc @LowensteinLLP
