johnoc
Level 3

I have same fiscal year issue June 30, 2020? Nearing end of extension and need to decide how to advise client. Currently IRS and Treasury positions indicate PPP expenses are not tax deductible. Loan forgiveness is not taxable.

Wondering if the new covid 19 relief package is going to make IRS and Treasury positions change. And whether these changes would affect the first PPP expenses in PPP package granted in 2020.

 

Sure hate to have to amend, but may not have any choice?

 

 

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