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.…
Thanks to photos and videos captured onsite by OpenSpace technology, U.S. Engineering fixed an error during construction that would have required expensive rework if it had not been caught early. With OpenSpace, U.S. Engineering managers are keeping tabs on projects remotely, saving hours of travel time and costs.…
MCAA’s Virtual Trade Show connects our contractor members with the members of MCAA’s Manufacturer/Supplier Council.…
LAARS, a Bradford White Company (and a benefactor of MCAA24), is working closely with MCAA and the United Association (UA) toward a shared vision of continuous support for a trained, skilled workforce that is committed to safety, quality, and productivity. LAARS and the UA have established more than 50 advanced water heater and boiler training labs across the United States, with many more in development.…
Load More...