In this video, Seth and Jay converse about the effects that the PPP Round 1 and Round 2 have made on taxes alongside special guest Joshua Odintz, a partner in and member of the management committee at Baker McKenzie’s North American Practice Group. He is highly experienced in tax policy, tax controversy, and withholding tax matters. Josh Odintz discusses the differences between the two types of PPP loans. This includes how to meet qualifications and changes affecting forgiveness for law firms into 2021.The Economic Injury Disaster Loan (EIDL) holds a direct effect on the PPP round 2 and loan forgiveness for small businesses. Odintz also speaks to the EIDL effect on second-round PPP loans and all things pertaining to forgiveness for small businesses including what the Treasury expects from law firms for filing their taxes and such.