As you know, the CARES Act provided that the proceeds from PPP loans were not to be taxable, but the IRS issued a ruling that otherwise-deductible expenses that are paid for with a forgiven PPP loan would not be deductible – effectively reversing the Congressional intent
As the COVID-19 pandemic continues and businesses reopen under restrictions which vary by city, county, and state, Affinity HR Group continues to monitor several topics and issues to help our clients through these confusing times. Below are some of the current topics we are seeing.
Many a lumber insider wound up here because they tripped, slipped, and fell into the industry. My steps were a little more ordered, I think, even though I didn’t grow up in a lumber family with a mill as my sandbox.
As of today, there are no new updates regarding the Paycheck Protection Program or the Main Street Lending Program. We will continue to monitor any new developments and send you critical updates as they occur.
Last evening the Senate Republicans released a series of bills covering a broad range of issues that they will now combine into the Health; Economic Assistance; Liability Protection; and Schools – HEALS – Act.