Alston & Bird Tax Blog

IRS Issues CARES Act Guidance Addressing Tax Issues Prevalent in M&A Transactions

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The CARES Act’s Paycheck Protection Program (PPP) was a boon to many businesses, but some of its particularities have become a headache to acquiring taxpayers. Our Federal Tax Group untangles how PPP loans affect employee retention credits and deductions.

  • New IRS guidance for both equity and asset acquisitions
  • A revenue ruling confirming that certain expenses cannot be deducted

Read the full advisory here.

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About John Baron

John Baron leads Alston & Bird's Federal & International Tax Group and is the former chair of the firm’s Partners Committee. His practice is principally transactional in nature, and his clients include both domestic and foreign companies and financial institutions, as well as private equity firms, CDOs, and hedge funds.

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About Scott Harty

Scott Harty is a partner in the Federal & International Tax Group and focuses his practice on complex domestic and cross-border commercial transactions, including taxable and tax-free mergers and acquisitions, joint ventures, and corporate restructurings.

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About Daniel Reach

Danny Reach is an associate in the Federal and International Tax Group. His practice includes federal and international tax planning, and he has particular experience with the tax aspects of derivative financial instruments.

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About Seth Buchwald

Seth Buchwald is an associate in the Federal & International Tax Group. He uses his experience as a former certified public accountant (CPA) to understand and assist clients with their complex domestic and international tax planning and structuring issues.

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