FAQs on Tax Treatment for COVID Relief Programs
Withum
JANUARY 13, 2022
Despite prior guidance from the IRS (now withdrawn), legislation enacted on December 27, 2020 provides that expenses that give rise to PPP loan forgiveness are tax deductible. For more information, see our article on this change in law. Q5: How is PPP loan forgiveness reported on S corporation tax returns – AAA or OAA?
Let's personalize your content