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A lot has happened in 2020. While we haven’t had a lot of legislation in the last few months, we’ve had a lot of guidance come out from the IRS and the SBA, particularly surrounding PPP funds. So where are we?

PBMares presented, “The Latest on PPP: Forgiveness Application and Legislative Update” from 1 pm-2 pm on December 3, 2020.

During this webinar, the team covered:

  • PPP Forgiveness Items
    • Loan forgiveness application – the details and must knows
    • Tax free income that may not be tax free
    • FAQs we’re receiving, including sale of a business with forgiveness applications pending and FTE issues
  • Legislative update


This webinar contains general information, may be based on authorities that are subject to change and is not a substitute for professional advice or service. Information related to COVID-19 is accurate as of the live date of this webinar.

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is new legislation, and constantly in flux.  It contains complexities that cannot be resolved with certainty until regulations are issued and/or courts issue opinions.  While we will advise you about these issues using our professional judgment and knowledge, we cannot guarantee that positions taken on CARES Act matters, including the Paycheck Protection Program (PPP) will be sustained.