Surgent- PPP Loan Forgiveness Case Study: Form 3508S Analyzed and Explained (Non-CPE)


Tax practitioners are focused on whether and how they should apply for Paycheck Protection Program (PPP) loan forgiveness. This program explores the various Form 3508 series options available to request forgiveness and explains the positions the IRS has taken in Revenue Ruling 2020-27 and Revenue Procedure 2020-51 with regard to deducting eligible compensatory and noncompensatory expenses. The program both explains the PPP loan forgiveness process and uses a case study to illustrate how the loan forgiveness application process works. If you are advising clients regarding this process, you will benefit greatly from attending this program. IMPORTANT NOTE: THIS COURSE INCLUDES COVERAGE OF THE NEW CORONAVIRUS STIMULUS LEGISLATION (CONSOLIDATED APPROPRIATIONS ACT, 2021), NOW SIGNED INTO LAW BY THE PRESIDENT.

Major Topics:


  • Changes to the PPP loan program resulting from the stimulus legislation
  • Case study for Form 3508S
  • When to use Form 3508 or Form 3508EZ
  • When can a borrower deduct expenses funded with PPP loan proceeds? (IRS Notice 2032, Revenue Ruling 2020-27, and Revenue Procedure 2020-51)
  • Forms 3509 and 3510 for borrowers with loans in excess of $2 million
  • Appealing loan forgiveness declinations
  • Differences between an EIDL and a PPP loan

Learning Objectives

  • Understand the issues associated with the preparation of the Form 3508 return series
  • Know when the IRS will allow PPP borrowers to deduct expenditures funded with PPP loan proceeds

Designed for:

Any tax practitioner advising clients with respect to PPP loan forgiveness


Basic knowledge of individual income tax rules

Advanced Preparation:


Contact Allen for Login Credentials


Jan 21 2021


9:00 am - 12:00 pm




Surgent CPE Webinars
Surgent CPE Webinars


Surgent CPE Webinars