07/22/2020

For-profit providers must pay taxes on COVID-19 relief funding, IRS says

The IRS clarified that for-profit providers must pay taxes on COVID-19 relief payments. 

In enacting the Coronavirus Aid, Relief, and Economic Security Act, Congress did not address the taxation of the provider relief funds. 

However, the IRS updated its frequently asked questions page July 6 to emphasize that for-profit providers are not exempt from paying taxes on the relief payments.  READ MORE AND REVIEW THE FAQs