![United States: IRS Confirms Taxpayers Cannot Deduct Expenses Paid With PPP Loans If Forgiveness Is Reasonably Expected - Ballard Spahr LLP](https://cdn.newsserve.net/ONPglobe256.png)
United States: IRS Confirms Taxpayers Cannot Deduct Expenses Paid With PPP Loans If Forgiveness Is Reasonably Expected - Ballard Spahr LLP
In Revenue Ruling 2020-27, the IRS announced that taxpayers cannot deduct expenses paid for with the proceeds of a Paycheck Protection Program (PPP) loan that is forgiven.
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