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AICPA Mobilizes Members to Push for Deductibility of PPP-funded Expenses

(JofA) - In the wake of the IRS’s latest guidance denying a tax deduction for any otherwise deductible expense ...the AICPA is mobilizing its membership to reach out to members of Congress to support a bill that clearly mandates deductibility.



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IRS Crushes Hopes Of Deducting PPP-Paid Expenses Before Forgiveness Approval; But Questions Remain 
(Forbes) - The IRS published Revenue Ruling 2020-27, in which the Service, relying on a few pieces of judicial precedent, took the controversial position that expenses paid with PPP loans are not deductible if at the time of filing the return for the year the expenses would ordinarily be deducted,

How to Change a PowerPoint Show (PPSX) to a Work File (PPTX) 
(How-to-Geek) - PowerPoint files come in two formats: PPTX files are editable PowerPoint presentations and PPSX files are a view-only format intended for presentations. You can edit a PPSX file, but you must first convert it back to a PPTX format.

China’s Negative Yield Bond Gets Positive Response 
(CFO) - The strong demand "shows investors are still underexposed to China and there definitely is a scarcity value perceived in these bonds"

France to Press Biden Team on Digital Taxes 
(Accounting Today) - France is hoping for a quick end to the simmering transatlantic trade battle over its tax on technology giants such as Facebook Inc. as soon as President-elect Joe Biden takes office.

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