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IRS advises that improperly forgiven Paycheck Protection Program loans are taxable

WASHINGTON – The Internal Revenue Service recently issued guidance addressing improper forgiveness of a Paycheck Protection Program loan (PPP loan). The guidance confirms that, when a taxpayer’s loan is forgiven based upon misrepresentations or omissions, the taxpayer is not...

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  • September 22, 2022

The Small Business Administration

The Small Business Administration (SBA) released a new interim rule late on April 14th stipulating that a partner in a partnership cannot submit a separate application for a PPP loan as a self-employed individual. Click Here to Read NEW...

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  • April 16, 2020