dmat
Level 3
04-14-2021
01:48 PM
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Yes, but the initial guidance from the IRS was that the expenses associated with PPP forgiveness would NOT be deductible. It took an act of Congress there at the end of the year to confirm that the loan was forgiven and the expenses were also deductible.
We'll see. I agree that they could come out with guidance to allow for deduction. Absent specific guidance I'm going to assume they are not deductible.