On November 18, the U.S. Treasury Department and Internal Revenue Service (IRS) issued guidance clarifying that business expenses paid with the Paycheck Protection Program (PPP) funds that are forgiven CANNOT be deducted for federal tax purposes. Dan Faye, AgChoice’s accounting manager, and Dan Brogdon, former AgChoice loan officer and now business development officer, closely follow the PPP program. They will discuss what this means for farms and agribusinesses with PPP loans.