Economic Disaster Relief Loans & PPP Expense Limitations (Ondemand)

  • Credits: 2
  • Format: OnDemand® Webinar
  • Field of Study: Federal Tax Law
  • Author/Speaker: Mary Jane Hourani, MM, EA
Course ID: Advanced Preparation: Experience Level:
EWTFM-T-01678-20-O | CTEC: 6233-CE-0401 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© December 2020 Basic Understanding of Taxation Self-Study eBook | Self-Study Video | Self-Study Audio | Live Webinar

The year 2020 has been unprecedented in so many ways. It began with nationwide shelter-in-place orders due to the COVID-19 pandemic, tax professionals suspending services or modifying face-to-face contact, Congress passing in light speed one of the largest economic stimulus packages in history after the President declared a National Economic Disaster, and the IRS extended the due date of tax returns after closing service centers all over the country.

This course will review the SBA loans available under the CARES Act. It will focus on IRS guidance regarding the limitations of expenses for PPP Loans as well as the PPP Loan Forgiveness process. A brief review of casualty loss rules will also be presented.

Topics include:
  • Loans and Grants
  • PPP Loan Forgiveness
  • Taxation of Loans and Grants
  • Expense Restrictions of PPP Loans Forgiveness
  • Casualty Loss Update


Learning Objectives:

After reading the course material, you will be able to:

  • Review the funding options provided under the CARES Act
  • Differentiate between the loans and grants
  • Discuss the loan forgiveness process
  • Determine the taxation of loans and grants
  • Understand the restrictions on expenses of the loans
  • Review changes in Casualty Loss Rules


Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)


Qualifies and Approved with All State Boards of Accountancy and the following sponsorship’s: