In the latest setback in the administration of the Paycheck Protection Program (PPP), the Internal Revenue Service (IRS) announced on November 18, via Revenue Ruling 2020-27, that expenses funded through a Paycheck Protection Program (PPP) loan are not deductible for this tax year if “the taxpayer reasonably expects to receive forgiveness of...
For full access, please log in or create a new account on the login form.