Paycheck Protection Program loan recipients face a new challenge: Taxes

Paycheck Protection Program loan recipients face a new challenge: Taxes

Paycheck Protection Program loan recipients face a new challenge: Taxes

By / Small Business / Wednesday, 18 November 2020 15:10

This is about the time of year when businesses across the country start figuring out their taxes: How much money they made this year and how much they spent on business expenses. But this year, there’s a new and thorny wrinkle in that process for businesses that received Paycheck Protection Program loans.

A few weeks ago, Randy George got an email about his bakery — the Red Hen Baking Co. in Middlesex, Vermont — from a business advocacy group. The email was a warning for businesses that received Paycheck Protection Program loans or other pandemic relief.

 

Read more at Marketplace.

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NexPro Media Staff

NexPro Media Staff

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