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Lawmakers Fight for Tax Deductible Expenses Under PPP

Lawmakers Fight for Tax Deductible Expenses Under PPP

by Mettise | May 7, 2020 | Blog Post, Finance

Our last blog post announced that the IRS issued Notice 2020-32 indicating that expenses funded with forgiven PPP loan proceeds are not deductible. We believe this is contrary to the intent of the CARES Act.  Yesterday, Senators Grassley and Wyden introduced...
Legislation Update: IRS Bulletin and Call to Action

Legislation Update: IRS Bulletin and Call to Action

by Mettise | May 3, 2020 | Blog Post, Finance

Business Owners – this is for you! The IRS issued Notice 2020-32 indicating that expenses funded with forgiven PPP loan proceeds are not tax-deductible. We believe this is contrary to the intent of the CARES Act. If you agree, we encourage you to contact your elected...

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