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Rev. Proc. 2021-48, page 835.

Internal Revenue Bulletin 2021-49 · 2026-10-03 edition · updated 2026-10-04 · United States

This revenue procedure provides that taxpayers may treat amounts that are excluded from gross income (tax-exempt income) in connection with the forgive

ness of Paycheck Protection Program (PPP) Loans as received or accrued: (1) as eligible expenses are paid or incurred, (2) when an application for PPP Loan forgiveness is filed, or (3) when PPP Loan forgiveness is granted.

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▸Contents — Internal Revenue Bulletin 2021-49
Internal Revenue Bulletin 2021-49

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