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Outdated. Congress codified in the next COVID bill by gregmorrissey
I think it was September of 2020 but may be off on month or even year. IRS updated to comply.
The original IRS ruling makes basic logical sense. But you know Congress (bipartisan) can’t pass up an opportunity to gift business owners money via non-headline-friendly rules.
“Student loan forgiveness” is easy to understand and drive outrage.
“Congress allows business owners to deduct PPP expenses” doesn’t quite drive the same base brain outrage. As soon as I said the word deduction most posters eyes glazed over.