But Congress may act to enable taxpayers to deduct expenses paid with PPP loan proceeds
On April 30, 2020, the IRS released guidance disallowing deductions for otherwise deductible expenses if payment of the expense...more
The roughly $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) passed on March 27, 2020 includes temporary modifications to the Internal Revenue Code intended to provide economic relief and increased...more