News & Analysis as of

Deductible Expenses Paycheck Protection Program (PPP)

Farrell Fritz, P.C.

The IRS, Forgiven PPP Loans, And Business Deductions: Once Was A Mistake, Twice Is An Inexcusable Decision

Farrell Fritz, P.C. on

It has been more than eight months since the enactment of the CARES Act, yet here we are, with the end of 2020 in sight, and we are still debating whether taxpayers should be allowed to claim a deduction for business expenses...more

Benesch

Tax Guidance on Paycheck Protection Program (PPP)

Benesch on

The IRS has previously released guidance saying that expenses paid with Paycheck Protection Program (PPP) proceeds which would otherwise be deductible will not be permitted to be deducted. There was much hope in the business...more

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