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Video Tips: Improperly Forgiven PPP Loans Are Now Taxable

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Video Tips: Improperly Forgiven PPP Loans Are Now Taxable
The IRS recently issued guidance addressing improper forgiveness of a Paycheck Protection Program loan (PPP loan). When a taxpayer's loan is forgiven based upon misrepresentations or omissions, they are not eligible for exclusion and must include in income the portion of proceeds that were unfairly given up.



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