PPP, LDR, Remote Sellers, LTC, IRS Update
Wednesday, May 27, 2020
Posted by: Ann Lupo
PPP, LDR, Remote Sellers, LTC, IRS Updates
LCPA continues to monitor PPP loan forgiveness and to work with AICPA to keep you informed. Further changes are expected from Congress.
- SBA PPP Loan Forgiveness Application – Keep this application handy to know what information to have available when applying for PPP loan forgiveness.
View the application
- AICPA PPP Loan Forgiveness Calculator (Excel) Updated May 27, 2020 – This calculator uses available guidance from the SBA and Treasury and along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness. When you click the link, please look for an Excel file calculator to download rather than opening in a new window.
Download the calculator
- Additional AICPA Resources – AICPA has a series of FAQs, calculators and other PPP resources for CPAs.
Visit the resource page
Louisiana Department of Revenue (LDR)
- RIB 20-012
Additional Sales Tax Relief Provisions Related to COVID-19 – The purpose of this guidance is to grant relief to sales tax filers for the March and April 2020 sales tax periods and to provide clarification on notices relative to the February 2020 sales tax period.
View RIB 20-012
- LDR Implements COVID-19 Safety Procedures as In-Office Customer Service Resumes – As part of the Phase One reopening of state government facilities, LDR will resume in-person customer service at its Baton Rouge headquarters and its regional satellite offices in Lafayette and New Orleans.
View the guidelines
- R-3406 Request to Close Business Accounts
REMINDER – If a business has been closed or sold, it must file a Request to Close Business Tax Accounts, Form R-3406, to notify LDR to close the tax accounts. If the business fails to file this request or to otherwise notify LDR, estimated assessments will continue to be issued. If a business has received estimated assessments for periods after the business closure, refer to Collections FAQ #19
View R-3406 Request to Close Business Accounts
View the Collections FAQ #19
Louisiana Sales and Use Tax Commission for Remote Sellers
- RSIB 20-002
Effective Date for Remote Seller Registration and Collection of State and Local Sales and Use Tax at Actual Rates
Remote sellers are required to register with the Commission effective July 1, 2020. This bulletin provides important related information. The bulletin also includes information for marketplace facilitators.
View RSIB 20-002
- Prior Remote Seller Information Bulletins (RSIB) – The Commission has issued five RSIBs since inception.
View previous bulletins
Louisiana Tax Commission (LTC)
- Statewide Advisory 05-2020 – Pursuant to La. R.S. 47:2324 and La. Admin. Code 61:V:307(A), personal property renditions must be filed by April 1 of each year; however, this deadline is suspended by EO JBE 2020-59 until at least June 5, 2020.
View Advisory 05-2020
Internal Revenue Service (IRS)
The LCPA Advocacy Team recently participated on a call with IRS staff. The following status updates for tax professionals were provided during the call.