This holiday season, like the rest of 2020, is certainly nothing we’ve experienced before. In accordance with the current proclamations and orders regarding group gatherings, ABC of Iowa has postponed the December 16th Annual Meeting and Holiday Party. I will keep you posted on additional details as they’re announced.
Recent IRS notices have reversed congressional intent of the PPP loans and effectively made these forgiven amounts fully taxable. This will result in a $100-200 billion nationwide tax hike on small business. ABC of Iowa recently joined hundreds of other trade associations to send a letter to Congress, urging them to correct the tax treatment of PPP loan forgiveness
While this year has been a difficult one, it has shown how resilient our members are and how strong our industry is and will continue to be in the future. Please let me know if ABC or I can be helpful to you and your company as we weather this storm together.