A-2020-12: Information Reporting Requirements for Paycheck Protection Program Loans Forgiven under the CARES Act

Internal Revenue Service (IRS) sent this bulletin at 09/22/2020 02:05 PM EDT

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September 22, 2020

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Issue Number: A-2020-12

Inside This Issue

Announcement 2020-12 provides that lenders who make PPP loans that are later forgiven under the CARES Act should not file information returns or furnish payee statements to report the forgiveness.

Announcement 2020-12 will be in IRB 2020-41, dated 10/13/20.

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