{"id":8428,"date":"2021-02-09T09:33:06","date_gmt":"2021-02-09T14:33:06","guid":{"rendered":"https:\/\/resources.evans-legal.com\/?p=8428"},"modified":"2021-02-09T09:34:07","modified_gmt":"2021-02-09T14:34:07","slug":"federal-covid-payments-not-pa-income","status":"publish","type":"post","link":"https:\/\/resources.evans-legal.com\/?p=8428","title":{"rendered":"Federal COVID Payments Not PA Income"},"content":{"rendered":"\n<p>The Act of February 5, 2021 (No. 1 of 2021), S.B. 109, provides that <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The forgiveness of paycheck protection program (&#8220;PPP&#8221;) loans that is not income for federal income tax purposes under the Tax Relief Act of 2020 (Subtitle B of Title II of Division N of the Consolidated Appropriations Act of 2021, P.L. 115-260) is also not income for PA income tax purposes.  However, expenses paid with those loans are not deductible if the loans are forgiven.<\/li><li>Economic impact payments under the CARES act are also not income to individuals for PA income tax purposes.<\/li><\/ul>\n\n\n\n<p>Section 104-A of the Act of April 9, 1929 (No. 176), known as the Fiscal Code, as amended by Section 1.1 of Act 1 of 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Act of February 5, 2021 (No. 1 of 2021), S.B. 109, provides that The forgiveness of paycheck protection program (&#8220;PPP&#8221;) loans that is not income for federal income tax purposes under the Tax Relief Act of 2020 (Subtitle B &hellip; <a class=\"more-link\" href=\"https:\/\/resources.evans-legal.com\/?p=8428\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[29],"tags":[359,615],"class_list":["post-8428","post","type-post","status-publish","format-standard","hentry","category-news-items","tag-federal-income-tax","tag-pennsylvania-personal-income-tax","pmpro-has-access"],"_links":{"self":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/8428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8428"}],"version-history":[{"count":2,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/8428\/revisions"}],"predecessor-version":[{"id":8430,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=\/wp\/v2\/posts\/8428\/revisions\/8430"}],"wp:attachment":[{"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resources.evans-legal.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}