AfA Joins Effort Opposing PPP Taxability

AfA Joins Effort Opposing PPP Taxability

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Video of yesterday's discussion on forwarding in a post-pandemic world now available

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A word about Memorial Day

Good afternoon,

This week, the Airforwarders Association was asked to participate in a

coalition of concerned organizations opposing recent Internal Revenue Service guidance dictating that expenses related to forgivable loans through the Paycheck Protection Program (PPP) will not be taxable. These expenses include costs of doing business including payroll, utilities and rent which are typically deductible but will not if paid for with PPP funds.

The impact of this guidance means that members who took PPP money could face a higher tax bill. We believe that this IRS interpretation is not only controversial, but falls out of the initial intent of the PPP when passed by Congress.

To correct the IRS error, the Airforwarders Association signed and submitted this joint letter to Senate leadership expressing support for a bill, S. 3612-the Small Business Expense Protection Act of 2020, which would correct the IRS.

Many Airforwarders Association members have received PPP loans in an effort to help their businesses survive during the COVID-19 pandemic and we will continue to monitor and vigorously oppose this unexpected and unwelcome change.

Video of our recent webinar is now available

Yes, we are in an ugly place right now, but this too shall pass.


	Cathy Roberson

The real question is what will the road to "normalcy" look like? And when we get there, how might it differ both short-term and long ter m from the pre-virus days?

Yesterday we discussed these and many questions with Cathy Robeson, an analyst with deep experience across the transportation and logistics business.

Cathy is the founder of Logistics Trends & Insights, which provides strategic supply chain research and analysis.

If you would like to see a recording of our session, please click here and we thank Cathy for her participation.

In Observance of Memorial Day

Normandy American Cemetery, France

Every year, our country honors those soldiers and heroes who went to war but did not survive. Last year, Kim and I traveled to the D-Day Beaches at Normandy, France and were truly awestruck by the magnitude of the sacrifice of those who were lost in the line of duty there or throughout the world defending our freedom.

The coronavirus crisis has certainly been a challenge that will change how many of us celebrate this Memorial Day. This year, let us remember not only our war heroes, but those medical and logistics professionals who continue to serve on the front lines of the pandemic, risking their own lives to save ours.

Please stay safe and enjoy the holiday.

Sincerely,

Brandon Fried

Executive Director

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AIRFORWARDERS ASSOCIATION

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Washington, DC 20004

(202) 577-9536
www.airforwarders.org