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It Appears New Relief Bill Will Allow Business Deductions for PPP Loan Recipients

December 23, 2020 12:55 PM | Anonymous member (Administrator)

The IRS and Treasury have indicated that businesses that receive PPP loan forgiveness would NOT be allowed to deduct business expenses paid with the forgiven loan.

However, it appears the new relief bill includes language to allow deduction of those business expenses:

PPP Borrowers Stand to Gain Tax Deductions

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