Paycheck Protection Deductions If No Help From Congress Should You Help Yourself?

Paycheck Protection Deductions If No Help From Congress Should You Help Yourself?

As the Paycheck Protection Program unfolded, one of the biggest disappointments was IRS giving notice that payments made under the program would not be deductible. A few foresighted souls had seen that coming, but the general view was that they would be deductible, since denying the deductions made the provision of the act indicating that loan forgiveness was not taxable income kind of pointless.

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