Virginia Society of Tax & Accounting Professionals - A-2020-12: Information Reporting Requirements for Paycheck Protection Program Loans Forgiven under the CARES Act

Home
Resources
IRS Tax News
A-2020-12: Information Reporting Requirements for Paycheck Protection Program Loans Forgiven under the CARES Act

A-2020-12: Information Reporting Requirements for Paycheck Protection Program Loans Forgiven under the CARES Act

22 Sep 2020 3:51 PM | Anonymous

Announcement 2020-12 provides that lenders who make PPP loans that are later forgiven under the CARES Act should not file information returns or furnish payee statements to report the forgiveness.

Announcement 2020-12 will be in IRB 2020-41, dated 10/13/20.

is a 501(c)6 non-profit organization.

8100 Three Chopt Rd. Ste 226 | Richmond, VA 23229 | Phone: (800) 927-2731 | asv@virginia-accountants.org