To provide clarification regarding the tax treatment of expenses paid or incurred with proceeds from Paycheck Protection Program loans.
Protecting the Paycheck Protection Program Act of 2020
This bill amends the Coronavirus Aid, Relief, and Economic Security Act to provide that otherwise deductible expenses and other tax incidents shall not be affected by the exclusion from gross income for loan foregiveness under the Paycheck Protection Program of such Act.
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-517.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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