The Paycheck Protection Program Flexibility Act eases PPP loan forgiveness restrictions. Here are the details of the law, along with some recent guidance for borrowers.
In Notice 2020-32, the IRS has clarified that deductions for income tax purposes aren’t allowed for expenses that are otherwise deductible if the payment of the expense results in forgiveness of a covered loan.
The just-passed $484 billion Interim Stimulus Plan, among other things, replenishes Paycheck Protection Program funds.
In the wake of the coronavirus (COVID-19) crisis, the IRS and U.S. Department of Treasury are providing taxpayers additional relief to ease tax burdens.
During these uncertain times, it pays to know what relief is available under the CARES Act for you and your family.
The CARES Act includes several tax-related provisions to help businesses survive the coronavirus (COVID-19) pandemic.