Panic Over Whether PPP Loans Will Be Taxable: What’s Going on And What Comes Next?

When the Paycheck Protection Program (PPP) was first announced as a form of mitigation for cash-strapped COVID-era businesses, advocates assumed that the initiative’s forgiven loan money would not be taxable. This provision made the program far more desirable to business owners who might otherwise have been skeptical. Unfortunately, the very promise that encouraged entrepreneurs to […]