FOR IMMEDIATE RELEASE
November 19, 2020
Office of International Business and Development Recognized for Efforts to Link Community, Commerce Across the Atlantic
HARRISBURG, PA — Today, Department of Community and Economic Development (DCED) Secretary Dennis Davin celebrated the nomination of Deputy Secretary of the Office of International Business and Development (OIBD) Joseph Burke for a Golden Bridges Award at the 12th annual Golden Bridges Conference and Awards sponsored by The Irish Echo and Ireland Northwest.

Read More

IRS Guidance Issued on Deductions Funded with PPP Loans

November 19, 2020

On November 18, 2020, the Internal Revenue Service (IRS) released Revenue Ruling 2020-27 and Revenue Procedure 2020-51 providing taxpayers guidance on the treatment of expenses related to forgiven Paycheck Protection Program (PPP) loans.  This guidance is a follow-up to the IRS’s previous guidance on the disallowance of deductions for expenses related to the forgiveness of a PPP loan, under Notice 2020-32.

Read More