Deductibility-IRS Gets It Wrong Again

Category Archives: Paycheck Protection Program Loans

Deductibility-IRS Gets It Wrong Again

Earlier this year, in IRS Notice 2020-32, the IRS took the position that business expenses paid with forgiven PPP loans are not deductible. This flys in the face of the language in the CARES Act that designates the PPP loan … Continue reading

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PPP Update

I presented an update covering changes to the Paycheck Protection Program up through August 24, 2020.  It covers only the highlights of the most important changes. Please enjoy the attached PowerPoint presentation: PPP Update 8.26.20 1.2

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Small Business Expense Protection Act

A bill called the Small Business Expense Protection Act has been introduced into the United States Senate It would overrule the recent IRS ruling that expenses paid with forgiven PPP loan funds are not deductible.   Mark S Gleason CPA … Continue reading

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You Tube Presentation on Forgiveness of Paycheck Protection Program Loans

Here is a link to the presentation I posted to YouTube on Forgiveness of Paycheck Protection Program Loans:   Mark S Gleason CPA www.mattson-cpa.com

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