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I am going to harp on this on final time.  PPP Forgiveness of the loan will be deemed tax-free.

However, to business owners who take the loan will not be able to write off expenses that would otherwise be deductible if they use those PPP funds to cover the cost and then obtain forgiveness, according to the IRS.

While members of Congress disagreed with this. Senators. Chuck Grassley, R-Iowa, and Ron Wyden, D-Ore., have proposed a bill that would permit small businesses to deduct those covered costs.

Sens. Marco Rubio, R-Fla.; Tom Carper, D-Del.; and John Cornyn, R-Texas, co-sponsored the legislation.

But since Congress can’t agree on the color of an orange again, who knows what the final verdict will be.

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