deductible expenses

COVID-19

New Coronavirus Relief Bill

Coronavirus relief bill includes deductibility of expenses paid with proceeds of a forgiven PPP loan, direct payments, extension of federal unemployment benefits, extension and expansion of employee retention tax credit and more.

PPP Loan Expenses Deductible
COVID-19

Are PPP Loan Expenses Deductible ?

IRS addresses the question “are PPP loan expenses deductible ?” in Revenue Ruling 2020-27 but many believe it contradicts intent of Congress.

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