The Idaho Society is ADVOCATING FOR YOU and want you to be aware of our efforts: ISCPA reached out to our Congressmen today to urge swift action on the issue of tax deductibility from the borrower’s federal income taxes of qualified business expenses forgiven under loans made through the Paycheck Protection Program (PPP).
CPAs are now providing year-end tax planning to their small business clients; planning in the midst of coronavirus-induced economic uncertainty is particularly important to the preservation of jobs and the continued survival of these businesses.
We asked them to move a PPP expense deductibility provision as part of any must-pass, year-end legislative package.