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08-16-2020 02:00 PM
TomCopeland
Quote:
Originally Posted by grandmom View Post
Tom,

I heard on the news last night that Congress is trying to (retroactively) make the PPP a grant, which will make it taxable. Whats this about? Have you heard this?
The PPP is a forgivable loan. There is talk about not requiring people who got less than a certain amount not having to show evidence to get forgiveness. There is no effect to make the PPP taxable that I have heard of.
08-14-2020 12:24 PM
Michael I heard the same thing—that it’s taxable income. I guess they can forgive the loan but you still have to pay the taxes on it.
08-14-2020 10:04 AM
grandmom Tom,

I heard on the news last night that Congress is trying to (retroactively) make the PPP a grant, which will make it taxable. Whats this about? Have you heard this?

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