Raise Hell: Help Lawmakers Make PPP Expenses Tax Deductible

As you may have discovered for yourself, it’s great to see PPP money flowing into your bank account.

What’s not so great are IRS loan-forgiveness rules that, frankly, are very unfair.

We’ll give you all the details when you read the full article titled Tax Tips: Raise Hell: Help Lawmakers Make PPP Expenses Tax Deductible.

We’ll explain the loan-forgiveness problems that PPP participants face. For starters, when the loans are forgiven, the business expenses paid with the forgiven money are not deductible! Second, the unforgiven-expense-rule discriminates against S and C corporations. We’ll explain these problems that businesses like yours face when you read the full article.
We’ll tell you what’s at the root of these problems. Confusion. From what we know, lawmakers thought that PPP loan forgiveness was tax-free for you. Business owners thought that too and so did we. But then, late in April, the IRS issued notice that royally screwed things up. We’ll explain the whole confusing story when you read the full article.
You’ll learn why lawmakers need to act. And how you can get them moving. The simple truth is that lawmakers fumbled the ball. They passed a very imperfect law and didn’t grasp its problematic implications. Well, at least highly placed lawmakers now are on the verge of fixing the problems. But you can really help Congress to act promptly if you raise your voice. We’ll tell you exactly how to make your feelings known when you read the full article.