Monthly Archives: October 2020

2020-10-07 IRS Issues Final Regulations on Wage Withholding, Redesigned W-4, T.D. 9924, filed with the Federal Register on October xx, 2020. The final regulations do not require all employees with a 2019 or earlier Form W-4 in effect to furnish a redesigned Form W-4. The regulations adopt optional computational bridge entries that will allow employers to continue in effect 2019 or earlier Forms W-4 as if the employees had furnished…

2020-10-06 The SBA issued guidance on October 2, 2020, for when an Original Borrower has received a Paycheck Protection Program (“PPP”) Loan and, prior to loan forgiveness, wishes to transfer ownership to a new purchaser.  Under the SBA Procedural Notice: Paycheck Protection Program Loans and Changes of Ownership For purposes of the PPP, a “change of ownership” will be considered to have occurred when: (1) at least 20 percent of…