IRS Issues Tax Guidance on PPP Loans

Ferrone & Associates CPAsBlog

The Treasury Department and the IRS have just released additional guidance on the tax treatment of forgiveness of Paycheck Protection Program (PPP) loans authorized by the Coronavirus Aid, Relief and Economic Security (CARES) Act. But is it enough? The CARES Act says PPP loans may be forgiven without any tax consequences. The new ruling and accompanying revenue procedure follow up … Read More