Restaurant Revitalization Grants: The American Rescue Plan of 2021 (Ondemand)

  • 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
COURSE DESCRIPTION

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.

Learning Objectives:

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)

 

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:
NASBA
IRS
CTEC