This course will cover the forgiveness process for both First Draw and Second Draw PPP loans, including all the latest SBA guidance, and will be primarily question-and-answer based to address specific issues that participants are experiencing during the forgiveness process. We will also cover coordination between the various stimulus programs, particularly the anti-double-dipping rules. participants should have a copy of and be familiar with the SBA guidance which can be found here and here.
Participants should also have a copy of and be familiar with the three applications for forgiveness, which can be found here, here, and here. Participants should also be familiar with the new SBA forgiveness portal here. The course will focus on Q&A of specific scenarios more than a detailed review of the forms and existing guidance.
Key topics to be discussed:
PPP loan forgiveness generally, and specifically through the new PPP portal directly with the SBA.
Date / Time: August 13, 2021
12:00 pm – 2:10 pm Eastern
11:00 am – 1:10 pm Central
10:00 am – 12:10 pm Mountain
9:00 am – 11:10 am Pacific
Choose a format:
Live Video Broadcast/Re-Broadcast: Watch Program "live" in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for "live" CLE credit.
On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 5 business days after the original recording date and are viewable for up to one year.
J. Kirk McGill, Godfrey | Johnson, P.C
J.Kirk McGill is an attorney with the firm of Godfrey | Johnson, P.C. in Englewood, Colorado (www.gojolaw.com). Mr. McGill is an appellate specialist with significant interest in constitutional (including administrative) law with a deep knowledge of the stimulus programs spawned by the CARES Act.
A Colorado Certified Public Accountant and former Federal Auditor, Mr. McGill brings extensive knowledge of the intricacies of Federal financial programs to bear on complex questions of Federal fiscal law and its impact on practitioners and their clients seeking to take advantage of government programs while ensuring proper compliance with the governing rule and law. Mr. McGill can be reached on these issues at GoJoCaresActQuestions@gmail.com
I. General overview of forgiveness rules applicable to all PPP loans | 12:00pm – 12:20pm
II. Discussion of the differences between First Draw and Second Draw loans and the accompanying forgiveness rules | 12:20pm – 12:40pm
III. Overview of Loan forgiveness process, including review of the three different forgiveness forms based on the size of the loan, and the new portal for loans of $150k or less | 12:40pm – 1:00pm
Break | 1:00pm – 1:10pm
IV. Appeals of negative determinations by the bank and/or the SBA | 1:10pm – 1:20pm
V. Document retention requirements and anticipated audit procedures | 1:20pm – 1:25pm
VI. Ethical issues related to assisting clients with PPP and other stimulus programs, and ethical issues related to a law firm directly participating in the PPP and other stimulus programs | 1:25pm – 1:55pm
VII. Extensive Q&A of specific issues raised by the participants—come with lots of questions | 1:55pm – 2:10pm