In the latest edition of his "Federal Tax Update," Ed Zollars hits on the following topics:
- Penalty relief related to partners’ tax basis capital
- IRS providing limited option for ERC claims on 4th quarter 941
- Revised PPP first draw maximum loan calculation
- PPP borrowers who received too much have to pay excess back
- Second disbursement for PPP first draw loan procedures
- Gross receipts calculation for second draw loans
- PPP revised forgiveness forms released
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