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Home ยป HEALS Act Fails to Correct IRS Ruling on the Deductibility of PPP Loan Forgiveness Income
Labor & HR

HEALS Act Fails to Correct IRS Ruling on the Deductibility of PPP Loan Forgiveness Income

July 30, 2020Updated:November 30, 2023No Comments1 Min Read
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One provision that was unfortunately not included in the Senate Republican Health, Economic Assistance, Liability Protection and Schools (HEALS) Act, was the overturning of an Internal Revenue Service (IRS) ruling related to the deductibility of expenses associated with income from Paycheck Protection Program (PPP) loan forgiveness. Despite clear congressional intent to ensure that PPP loan...

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Latest News

Construction Firms Add 15,000 Jobs In June As Hourly Wages In The Sector Rise To $37.20 As Firms Strive To Retain Workers Amid Market Uncertainty

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