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November 20, 2020

IRS Rules on Deductibility of Qualifying Expenses Related to the Paycheck Protection Program (PPP)

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Everyone, I just worked with one of our associates in my firm to issue a client alert on our firms’ website. The IRS recently ruled that if a business reasonably believes that a PPP loan will be forgiven in the future, expenses related to the loan are not deductible, whether the business has filed for forgiveness or not. I would encourage you to read the more detailed client alert, which you can access here.

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« IRS Voluntary Disclosure Program; Alive and Well, or Dormant? | Main

November 20, 2020

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