Actually the CARES Act states loan forgiveness is not taxable (Act §1106(i)) [1], but also prevents businesses from then taking a deduction for expenses paid wi

Actually the CARES Act states loan forgiveness is not taxable (Act §1106(i)) [1], but also prevents businesses from then taking a deduction for expenses paid with the money (so no double benefit). [1] - https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.p...