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Deductibles Paycheck Protection Program (PPP)

Sheppard Mullin Richter & Hampton LLP

California Largely (But Not Fully) Conforms to Deductibility of Expenses Paid with Forgiven PPP Loans

On April 29, 2021 Governor Newsom signed California A.B. 80, largely conforming to Federal rules relating to deductibility of expenses paid with funds from forgiven Paycheck Protection Program (PPP) loans. The $150,000...more

Orrick - Finance 20/20

Treasury and IRS Issue Guidance Clarifying the Deductibility of Expenses Where a Business Received a PPP Loan

Orrick - Finance 20/20 on

On November 18, the U.S. Treasury Department and Internal Revenue Service (IRS) released guidance clarifying the tax treatment of expenses where a Paycheck Protection Program (PPP) loan has not been forgiven by the end of the...more

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