Sens. Loeffler, Braun, Hoeven, Murkowski Introduce Legislation to Protect Small Businesses From Tax Liability for PPP Loans
May 07, 2020
May 07, 2020
WASHINGTON, May 7 -- Sen. Kelly Loeffler, R-Georgia, issued the following news release:
U.S. Senator Kelly Loeffler (R-Ga.) joined U.S. Senators Mike Braun (R-Ind.), John Hoeven (R-N.D.) and Lisa Murkowski (R-Alaska) in introducing the Safeguarding Small Business Act to remove all tax liability associated with loan forgiveness under the Paycheck Protection Program (PPP).
Last week, the IRS issued guidance (Notice 2020-32) that any expenses covered by forgivable portions . . .
U.S. Senator Kelly Loeffler (R-Ga.) joined U.S. Senators Mike Braun (R-Ind.), John Hoeven (R-N.D.) and Lisa Murkowski (R-Alaska) in introducing the Safeguarding Small Business Act to remove all tax liability associated with loan forgiveness under the Paycheck Protection Program (PPP).
Last week, the IRS issued guidance (Notice 2020-32) that any expenses covered by forgivable portions . . .