116-136.) Likewise, gross income does not include any amount arising from the forgiveness of Second Draw PPP loans, effective December 27, 2020. Gross income doesn’t include any amount arising from the forgiveness of a Paycheck Protection Program (PPP) loan, effective for taxable years ending after March 27, 2020. Paycheck Protection Program loan forgiveness. Section 210 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 provides for the temporary allowance of a 100% business meal deduction for food or beverages provided by a restaurant and paid or incurred after December 31, 2020, and before January 1, 2023. Temporary Allowance of 100% Business Meal Deduction.
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