Unforeseen complications in the forgiveness process for Paycheck Protection Program loans is causing headaches for law firm leaders—especially at midsize and larger firms facing year-end compensation distributions for dozens of partners.

Leaders at several midsize firms said they’re trying to close their books for 2020, but questions are looming as to whether the PPP loans will be forgiven and, if so, tax-deductible.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]