Blog
Recovery Resources: PA order reaction and FAQs, new Chesco grants, test sites and federal CARES
PA Chamber blasts Gov. Wolf’s new pandemic mitigation efforts
Pennsylvania Chamber of Business and Industry President Gene Barr said Gov. Tom Wolf didn’t consult the business community before ordering new novel coronavirus pandemic mitigation measures yesterday. Rather than impose new orders, Barr said, the state should more effectively enforce the ones in place, for example by providing employers with support to enforce mask-wearing mandates.
Recovery Resources: PPP advocacy, CARES expansion, Chesco economy, liability protections veto and managing through crises
Trade groups ask Congress to reverse IRS treatment of expenses paid by PPP loans
Several hundred trade associations have sent a letter to House and Senate leaders asking them to pass legislation to reverse the Internal Revenue Service’s treatment of expenses paid by funds borrowed under the Paycheck Protection Program, according to the Journal of Accountancy. Loans made under the PPP can be forgiven if they are used for certain business expenses, but the IRS has ruled that businesses can’t deduct expenses that otherwise would be deductible if paying the expenses results in forgiveness of a PPP loan.
