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.
December 09, 2020 at 02:31 PM
1 minute read
staff reporter
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.
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