"...Currently IRS and Treasury positions indicate PPP expenses are not tax deductible" (my emphasis)

You might want to review the latest IRS notice (yesterday? Wed? 2021-02) regarding your statement.  And maybe look at the law signed on 12.27.20.

Edit:

Today’s guidance, Revenue Ruling 2021-02, reflects changes to law contained in the COVID-related Tax Relief Act of 2020, enacted as part of the Consolidated Appropriations Act, 2021 (Act), Public Law 116-260, which was signed into law on Dec. 27, 2020.