But Congress may act to enable taxpayers to deduct expenses paid with PPP loan proceeds
On April 30, 2020, the IRS released guidance disallowing deductions for otherwise deductible expenses if payment of the expense...more
Updated April 3, 2020 On April 2, 2020, the Small Business Administration (the “SBA”) issued an Interim Final Rule (the “Rule”) announcing the implementation of the Paycheck Protection Program (“PPP”) of the Coronavirus Aid,...more
Congress is imminently expected to approve a $2.2 trillion stimulus package known as “The Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” to provide emergency assistance to deal with the 2020 novel...more
3/30/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance