- Credits: 1
- Format: OnDemand® Webinar
- Field of Study: Federal Tax Law
- Author/Speaker: Mary Jane Hourani, MM, EA, NTPI Fellow
|Course ID:||Advanced Preparation:||Experience Level:|
|EWTFM-T-01802-21-O | 6233-CE-0522||None||Overview|
|Published Date:||Program Prerequisites:||Other Course Formats:|
|© April 2021||General Understanding of Taxation||Live Webinar|
As part of The American Rescue Plan, enacted on March 11, 2021, $28.6 billion was appropriated to assist the restaurant and foodservice industry. These funds are in the form of grants, Restaurant Revitalization Grants, § 5003, Support for Restaurants, and § 9673, Tax Treatment of Restaurant Revitalization Grants. The grants are administered by the Small Business Administration, SBA, through a designated portal, www.restaurants.sba.gov. The application process will begin on Monday, May 3, 2021, at Noon est., however, there is a preregistration process that begins on Friday, April 30, 2021, at 9:00 est. The maximum amount is up to $ 10 million per business with a limit of $5 million per location and all funds received must be used by March 11, 2023.
After reading the course material, you will be able to:
- Determine eligibility requirements.
- Discuss the registration process.
- Examine the application and documents required.
- Explain the tax treatment.
Who Should Attend:
- All Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Return Preparers (TRPs)