IRS doubles down on nondeductibility of PPP-funded expenses

[Budi]

2. Agree 100% with your statement.

I know someone with a welding shop who got a LOT of PPP $. That's fine, but they had to spend the remaining $300,000 before the deadline, or they'd have to return it.

So they bought 4 brand new, top-line pick up trucks for their 4 owners, in the shop's name. None of them needed a new truck.
I just think it was sick.

Not to mention all the big corps & pals of Trump who were 1st in line, while small Main St businesses closed their doors when the funds quickly ran out.