October 21, 2020
Business News

Business groups push Congress to change tax treatment of forgivable PPP loans – Fox Business

Hundreds of business organizations signed onto a letter asking Congress to address the tax treatment of forgivable PPP loans as lawmakers negotiate another round of stimulus in the nation’s capital, which may include provisions allowing some borrowers to take out a second loan.
A group of 170 organizations, including the American Institute of CPAs, sent the letter to House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell this week, asking Congress to allow deductions of expenses…

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