Whether expenses paid with PPP funds are deductible or not is an issue that is still undecided according to this post from late 2020 via the Journal of Accountancy.
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SBA settles confusion over PPP forgiveness application due date By Jeff Drew October 13, 2020 Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms display an expiration date of “10/31/2020” in the upper-right corner. This prompted the SBA to release a new entry in its loan […]
The U.S. Small Business Administration (SBA), in consultation with Treasury, released guidance Tuesday answering 23 frequently asked questions regarding the forgiveness of Paycheck Protection Program loans.