The law also offered some provisions intended to help businesses, including the much talked about Paycheck Protection Program, or PPP. The program is precisely what it sounds like: billions of (potentially) forgivable loans to keep workers on the payroll. The money went quickly: the program opened on April 3, 2020, and closed on April 16, 2020. Almost as quickly as the money went out, allegations about widespread abuse were flying. The amount of any forgiven PPP loan will be excluded from gross income.

Source: Forbes November 11, 2020 15:11 UTC