On November 18th, the IRS issued additional guidance regarding deductibility of the Paycheck Protection Program (PPP) loan related expenses and the news is not what we had hoped for. The guidance came in the form of Revenue Ruling 2020-27 and Revenue Procedure 2020-51.
Shauna Hovancsek and Jessica Simons
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New Guidance on Paycheck Protection Program Deductions
Posted by
Shauna Hovancsek and Jessica Simons on Nov 19, 2020 11:40:36 PM
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Topics: Sweeney Conrad News, COVID-19