Definition of Resident Employee for PPP purposes

Technical topics regarding tax preparation.
#1
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California
From the PPP FAQ

33. Question: Is there existing guidance to help PPP applicants and lenders determine
whether an individual employee’s principal place of residence is in the United States?
Answer: PPP applicants and lenders may consider IRS regulations (26 CFR § 1.121-
1(b)(2)) when determining whether an individual employee’s principal place of residence
is in the United States

Does a foreign student working as a summer intern qualify under this code section? They rent an apartment. They own no real estate in the United States. They are working 20 hours or less in compliance with their F1 status.

https://www.irs.gov/individuals/interna ... care-taxes

https://www.irs.gov/taxtopics/tc851

https://www.irs.gov/individuals/interna ... me-concept
 

#2
Noobie  
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Heck, I would like to know if H1B visaholders who are employees are counted for wage purposes.
 

#3
Noobie  
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2. STUDENT WORKERS AND PPP LOAN ELIGIBILITY
Do student workers count when determining the number of employees for PPP loan eligibility?
From https://www.federalregister.gov/documen ... additional:

Yes, student workers generally count as employees, unless (a) the applicant is an institution of higher education, as defined in the Department of Education's Federal Work-Study regulations, 34 675.2, and (b) the student worker's services are performed as part of a Federal Work-Study Program (as defined in those regulations [1] ) or a Start Printed Page 27289substantially similar program of a State or political subdivision thereof. Institutions of higher education must exclude work study students when determining the number of employees for PPP loan eligibility, and must also exclude payroll costs for work study students from the calculation of payroll costs used to determine their PPP loan amount.
 

#4
Noobie  
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Noobie wrote:Heck, I would like to know if H1B visaholders who are employees are counted for wage purposes.


Anybody know what the answer is to above quoted question?
 

#5
sjrcpa  
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I don't see why they would not be counted, but I do not "know".
 


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