Many U.S. companies took advantage of the Paycheck Protection Program, Economic Injury Disaster Assistance Loans, and other funding sources to shore up cash flow amid the coronavirus pandemic.
The IRS explains the taxability of Provider Relief Fund reimbursements made to health care providers pursuant to the CARES Act. (authored by RSM US LLP)
The Paycheck Protection Program helped more than four million businesses continue to pay their employees during the coronavirus pandemic.
Over the past several weeks, there has been a lot of attention regarding the tax provisions and federal loan programs such as the Paycheck Protection Program included in the CARES Act.
