Should You “Reasonably Expect” to be Affected by the New IRS PPP Expense Deduction Rules

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Join DHG's SBA task force and tax services team as they continue their PPP webinar series to discuss the latest developments in PPP loan forgiveness. The IRS recently issued two additional pieces of guidance relating to the tax implications of PPP loans. The first clarifies the IRS's position on the potential non-deductibility of expenses paid or incurred if the taxpayer has a reasonable expectation of forgiveness for their PPP covered loan. The second provides taxpayers a safe harbor if they receive notification that some or all of their loan will not be forgiven after 2020.

The recent guidance provides more targeted guidance to borrowers to allow them to comply with the government's intentions for how borrowers implement the tax rules related to PPP loans. During this highly impactful 30 minute webinar, we will explore:

  • What this means to borrowers and their 2020 and 2021 taxable income
  • How it may alter estimated tax payment strategies
  • Explore the depth of the "reasonable expectation" bar issued by the IRS

We will be hosting this webinar the week after the Thanksgiving holiday to allow our professionals time to digest and research these new updates.


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