Bloomberg quoted Lisa Zarlenga in an article titled "IRS Blesses Tax Breaks on Forgiven PPP Loans After Law Change." The article, published January 6, discusses how the IRS will allow businesses that got their Paycheck Protection Program (PPP) loans forgiven to write off expenses paid for with that money.
Zarlenga says the new guidance from the IRS stretches the money received from the government even further. "The PPP loan proceeds are free, if they're forgiven, effectively — so it's a good benefit," she adds.
The full article can be read at Bloomberg.