whether do I have to add Miscellaneous statement along with Corporation Tax Return 2019-20 for the
PPP loan amount being adjusted , show amount of PPP received and its adjustment , while filing
Corporation Tax 1120 form with IRS?
Personally I would hold off filing anything until closer to the extended deadline. I suspect there are still rules to be written, no point in rushing to file something just so you can amend later.
If nothing gets changed and the IRS ruling stands, I would be inclined to report a negative expense to get the taxable income correct. I could pretty easily be talked into reducing individual expense categories though. From a QC standpoint, salaries are already going to be a PITA to reconcile for 2020 with COVID pay thrown into the mix, I'd rather avoid having NDE as an additional reconciling item. But they don't let me make the rules.