The WICPA has joined with several other organizations to form a coalition that supports protecting small businesses and urges Wisconsin to conform to the federal decision and intent to provide Paycheck Protection Program (PPP) loans as tax-free.
In a memo to the legislature, the coalition calls on the legislature to quickly clarify the current law, as Congress did, to reflect the intent of the Coronavirus Aid, Relief and Economic Security (CARES) Act — that forgivable PPP loans are to be tax-free aid.
The WICPA encourages members to contact their Wisconsin senators and representatives to voice their thoughts and concerns. The WICPA asks that you identify yourself as a WICPA member and provide examples and situations you may have in mind.