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New PPP Transfer Rules May Limit Use of Estate-Planning Strategies

What can be done in light of SBA Notice 5000-20057?
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As the end of 2020 approaches, along with the possible end of an $11.58 million per taxpayer estate and gift tax exclusion, planners and their clients must decide whether and how to make transfers by gift, sale or a combination thereof, especially given the possibility of a presidential victory for Joe Biden and Democratic congressional candidates. Planners have many options, but Notice 5000-20057 (the Notice), issued on Oct. 2, 2020 by the Small Business Administration (SBA), may limit the

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