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Posted on April 7, 2020 by LMAAdmin

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Lenhart, Mason & Associates, LLC

5 days ago

Lenhart, Mason & Associates, LLC

IRS doubles down on nondeductibility of PPP-funded expenses ... See MoreSee Less

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IRS doubles down on nondeductibility of PPP-funded expenses

www.journalofaccountancy.com

The IRS issued guidance for taxpayers who pay otherwise deductible expenses with PPP loan funds, stating that even if the payment and PPP loan forgiveness happen in different tax years, the expenses are not deductible.
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