MADA Logo
TO:           MADA Members

 

FROM:     Peter Kitzmiller, President, MADA

  

DATE:      April 2, 2020

 

RE:           IRS Update & NADA Webinar
The IRS has issued guidance, AVAILABLE HERE, for claiming the new Employee Retention Credit under the CARES Act (COVID 3) as well as the credits for emergency paid sick leave and emergency paid childcare leave under the FFCRA (COVID 2).  
 
Attached is the application for obtaining the credits is combined onto a single form (IRS Form 7200)
 
Today's NADA webinar will address COVID-related tax issues .  If you have not already done so, you can sign up here: Federal Tax Implication of COVID-19: How the New Environment Affects Dealers.  
 
Please note that NADA has added all available capacity for its webinars, however, despite the added capacity, NADA's service provider, Adobe Connect, has its own webinar capacity that NADA will likely reach again today.  Seats will be first come, first served, before becoming audio only.  The webinar room will open at 12:45pm ET.  Prior to the start time, please test your connection to the Adobe Connect system here.  
 
For troubleshooting before or during the webinar, please contact NADA's Ashley Smith .   The webinar will be recorded and the recording, as well as the related slides, will be available and distributed this evening.

Here is the link to yesterday's NADA webinar: Making Sense Out of the NEW SBA Paycheck Protection Program - Practical Considerations for  Dealers