The U.S. Senate and House of Representatives overwhelmingly passed a $900 billion COVID-19 relief bill Monday night that provides $600 stimulus payments to individuals, adds $300 to...
deductibility of ppp loan expenses
Congress to Vote on New Covid-19 Stimulus Deal
Congress is finally on the verge of passing a far-reaching $900 billion Covid relief package that promises to accelerate vaccine distribution and deliver much-needed aid to small...
Necessity questionnaire for PPP loans over $2 million
A questionnaire asking borrowers to justify their $2 million-plus Paycheck Protection Program loans is confusing and burdensome, says the AICPA. The U.S. Small Business Administration and...
IRS denies deductibility of PPP loan expenses
Business owner who took a forgivable loan this year under the Paycheck Protection Program can’t write off certain expenses on their taxes if they expect the debt will be forgiven,...