tax forgiveness credit pa
Section III on Page 2 of. Any taxpayers claiming the Tax Forgiveness Credit on Line 21 of the PA-40.
For example there is no clear or uniform method to record forgiven PPP loans on a taxpayers return such as how and where they are reported.

. There is uncertainty regarding the proper tax reporting for deducting qualified PPP expenses and subsequent loan forgiveness. PA Schedule SP - Special Tax Forgiveness. An amended PA Schedule SP must be included with Sched-ule PA-40 X if increases or decreases in income amounts.
PA Schedule UE - Allowable Employee Business Expenses. PA-40 - Pennsylvania Income Tax Return. In particular the basis questions on Form 1065 and Form 1120-S are a concern for many PPP.
Related
Deadline for taxpayers who got a PA Tax Extension to file their PA Income Tax Return by mail-in Forms. Or changes to any information in Sections I II or III of PA Schedule SP are discovered after an original or other amended return is filed with the department. Fill in oval if including Form REV-1630REV-1630A.
PA-1000 - Property Tax or Rent Rebate Claim. See the instructions for additional information.
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