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Wanted to highlight Prudential Financial’s hiring practices. They rescinded my offer once I attempted to negotiate the salary. The official reason given was that I didn’t “sound excited enough”.
They then admittedly gave the offer to someone who was less qualified. There were other red flags throughout the job offer process that the HR team should overall be ashamed of.
Any fish still awake and working? 😀
Additional Posts in Accounting
Starting salary for a tax accountant in MI?
Anyone negotiate severance?
PSA: With tax season is around the corner I just wanted to share that CashApp (Square) allows you to e-file individual Federal return and 1 state return for free (with NO income limit), and the best part is it supports ALL essential forms for stocks like 1099s and Sch D (gain loss on stock including crypto). DM if you need a ref code
https://cash.app/app/MLWKHQR
How do i see my utilization?
Which one of you wrote this? The feels...

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Debit retained earnings and credit loan liability ?
I’m not in tax so idk about all that haha
Why would you repay a loan that was forgiven under a government program?
They’re going back and retracting forgiveness on loans that were previously forgiven due to re-auditing. I always knew these loans were a trap. But we’ve seen so much theft discovered in the aftermath so it seems valid
The answer may be that you amend (or AAR) the prior returns to reduce the T/E income since the requirements for forgiveness were not satisfied. While the direct impact is nada since it is just reducing an item of T/E income, it could have ancillary impacts such as tax capital, 704(b) capital, and liability allocations (for partnerships), partner/shareholder outside/stock basis (partnerships or S Corps) , E&P calculations (C Corp), foreign tax credit computations, state franchise taxes, and probably a handful of other things. I assume they may accrue interest, as well, if not forgiven…
The likely-incorrect shortcut would be to just run it through as an other increase/decrease on the current year M2 but if the prior year impact is nil/minimal, it is probably the practical treatment.
Thank you for this! I thought about amending too but then it would need to be 2 prior year amendments.
M2 seems like the easiest option. If the forgiveness income was say $100k though, shouldn’t the shareholder techincially have been taxed on that amount? Would you record the income along with the M2 or just the loan?