Senators introduce bill to allow tax deductions for forgiven PPP loans

A bipartisan group of lawmakers introduced legislation Wednesday to enable small businesses to deduct their expenses even if they have received a loan from the federal government’s Paycheck Protection Protection Program that was later forgiven.

Original Article Posted at : https://www.accountingtoday.com/news/senators-introduce-bill-to-allow-tax-deductions-for-forgiven-ppp-loans