November 20, 2020 IRS Releases New Guidance on Tax Treatment of PPP Loan Expenses November 18, the U.S. Treasury Department and Internal Revenue Service (IRS) released guidance clarifying the tax treatment of expenses where a Paycheck Protection Program (PPP) loan has not been forgiven by the end of the year the loan was received. “Today’s guidance provides taxpayers with greater clarity and flexibility…These provisions ensure that all small businesses receiving PPP loans […]