The IRS released new ruling and guidance on November 18, 2020 for businesses who received a Paycheck Protection Program (PPP) Loan, Revenue Ruling 2020-27 and Revenue Procedure 2020-51, which clarifies the tax deductibility of expenses related to loans that have not been forgiven.
The PKF Texas team wants to share with you a special information document with timely considerations to start thinking about. Click the image to the right or download the document from our website.
There is not a uniform answer on when it is the best time for a business to apply for PPP Loan forgiveness, so please reach out to the PKF Texas accountants and advisors who can co-develop a solution which makes most sense for your business.
