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Articles addressing specific issues relevant to many different areas of law.

No Double Dipping: IRS Confirms Non-deductibility of Expenses Paid With Forgiven Paycheck Protection Program Loan Proceeds

In the past few weeks, we have seen the government simultaneously implement a number of different mechanisms to assist businesses and individuals in navigating the COVID-19 pandemic. In addition to the four COVID-related bills passed by Congress, we have seen a number of government departments and agencies issue their own regulations, Q&As, and other guidance in an effort to provide those affected by this pandemic with as much information as quickly as possible. Although the guidance provided by each legislative body or agency varies, we can identify certain commonalities in the policy behind each agency’s guidance, with possibly the most prevalent theme being a prohibition on stacking benefits available under differing programs (otherwise known as “double dipping”).

Tax Deadline Extended

Due to the ongoing uncertainty resulting from the COVID-19 pandemic, the Internal Revenue Service and the Wisconsin Department of Revenue have both announced that all income tax filings originally due April 15, 2020 are now automatically extended to July 15, 2020.

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