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IRS Guidance Says No Deduction Is Allowed for Business Expenses Paid with Forgiven PPP Loans

Authors :
Lowry, Sean
Gravelle, Jane G.
Source :
Congressional Research Service (CRS) Reports and Issue Briefs. December, 2020
Publication Year :
2020

Abstract

Updated December 31, 2020 The Coronavirus Aid, Relief, and Economic Security Act (CARES Act; P.L. 116-136) created Small Business Administration (SBA) Paycheck Protection Program (PPP) loans for payroll expenses and [...]

Details

Language :
English
Database :
Gale General OneFile
Journal :
Congressional Research Service (CRS) Reports and Issue Briefs
Publication Type :
Report
Accession number :
edsgcl.660847378