Congress Confirms Tax Deductions for Expenses Paid with PPP Loans, Extends Other Tax Provisions
By EsqSocial Corporation 22/12/20
Congress gave recipients of loans under the Paycheck Protection Program (PPP) a holiday present when it confirmed the deductibility of expenses paid with proceeds of a PPP loan that is forgiven. This confirmation is part of the massive Consolidated Appropriations Act, 2021 (the “Act”) that Congress passed on December 21, 2020, and that the president is expected to sign......
By: Ulmer & Berne LLP