SBA Final Rules on Paycheck Protection Program (PPP) Under CARES Act

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CEU Approved | Pre Recorded

  • 75 minutes

On June 17, 2020, the US Department of the Treasury (Treasury Department) and the Small Business Administration (SBA) announced the release of (i) a revised Paycheck Protection Program PPP Loan Forgiveness Application, Form 3508, to implement the terms of the Paycheck Protection Program Flexibility Act (Flexibility Act), and (ii) a new, simplified "EZ" version of the application, Form 3508EZ, available to certain qualified borrowers.

The Small Business Administration (SBA) issued a procedural notice to lenders announcing the SBA will begin accepting Paycheck Protection Program (PPP) loan forgiveness applications on August 10. Lenders will be able to access the necessary platform, borrowers cannot..

Procedural guidance related to the PPP for borrowers who received Economic Injury -Disaster Loans (EIDL)

The Revised Interim Final Rule introduces the new concept of “loan forgiveness covered period

The New SBA guidelines includes:·  

  •  Lender Requirements·  

  • Borrower Requirements·  

  •  Forgiveness Process Summary

  • Methodology for Forgiveness and Reimbursement

  • Assistances and shortcomings of Payroll Protection Program (PPP) Loans

  • Expenses which are Forgivable under (PPP).

  • Covered Period for PPP Loans

  • Maturity Date for PPP Loans

  • Deferral Period for PPP Loans

Implementing the 24-Week Covered Period.

On June 17, 2020, the Treasury Department and SBA posted a revised, borrower-friendly loan forgiveness application for PPP loan: New Form EZ for Loan Forgiveness Applications

With these revisions, the SBA also is making conforming amendments to the use of PPP loan proceeds for consistency with amendments made in the Flexibility Act.

Session Highlights:

  • Basics of the PPP enacted March 2020 and Overall

  • Modifications made to the PPP.

  • Things to be known in CARES and FFCRA acts.What will be the PPP act Qualifications and Restrictions

  • How the PPP Flexibility Act work?

  • Best Actions to be taken

  • Updates to Employer related COVID-19 matters

  • Safe workspaces, work from home and other requirements

  • Other financial relief resources

  • How to help workers?

Why You Should Attend:

In this webinar you will learn and know the..

  • Accounting for Reductions in Business Activity Due to Government Guidance

  • Qualification for the program

  • What counts as “payroll costs”

  • How much funding you can receive

  • Financial Documentation.

  • Conditions for loan forgiveness

  • New exemption on re-hiring employees

  • FTE tests: FTE Reduction Exceptions

Who Should Attend:

  • Payroll managers and staff

  • Accountants and Payroll Processors

  • Payroll tax managers

  • Human resource managers and staff

  • Hiring managers and employee liaisons

*You may ask your Question directly to our expert during the Q&A session.
** You can buy On-Demand and view it at your convenience.

Mark  Schwartz

Mark Schwartz

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr. Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.
Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

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Edupliance is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit

This webinar has been approved for 1.0 HR (General) re-certification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for re-certification credit.

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