Withum Explains Why PPP Loan Forgiveness May Not Be Tax-Free

September 22, 2022

National accounting firm Withum shares information to help you understand the tax implications of the recent Internal Revenue Service (IRS) ruling addressing the proper treatment of improperly forgiven paycheck protection program (PPP) loans. The IRS ruled that the PPP loan forgiveness amount is not tax-free, even if the Small Business Administration (SBA) and the lender granted the borrower full loan forgiveness, if the taxpayer did not satisfy the factual requirements for loan forgiveness.

LEARN MORE
Related Articles
MCAA’s Virtual Trade Show connects our contractor members with the members of MCAA’s Manufacturer/Supplier Council.…
P.J. Dionne Company found that using Sloan’s AER-DEC® Integrated Sinks helped make a complex installation at Logan Airport a more collaborative effort. (SLOAN is a benefactor of MCAA25.) Sloan’s AER-DEC Integrated Sinks contribute to the airport’s sustainability goals while offering high standards of hygiene and efficiency.…
Although summer ’25 isn’t quite here yet, it’s already time to start the process for securing your summer ’26 interns! Save the date for the 2025 MCAA GreatFutures Forum (October 9-11, 2025) in Salt Lake City, Utah. Conference registration, including the Job Fair, is complimentary for MCAA Members, MCAA Student Chapter Members, Faculty Advisors, Affiliated Association Executives and Forum Sponsors. Registration will open on July 1st.…
The PCA Plumbing Service Conference is right around the corner – happening May 19–21 in St. Louis, MO – and there are only a few spots left! Don't miss out on your best opportunity to learn, share, and grow in your understanding of operational plumbing service. With industry leaders, in depth tours, and invaluable networking, this is a conference you don’t want to miss. Sign up now!…
Load More...