The Portland Press Herald interviewed Tax Partner Eric Purvis about state and federal tax filing guidelines concerning forgiven pandemic relief loans and unemployment income.
Portland Press Herald
By Glenn Jordan
Eric Purvis, a certified public accountant and partner in the Portland office of the national accounting firm Marcum, is holding onto partnership and S corporation tax returns that are due Monday because Maine has yet to clarify its treatment of forgiven Paycheck Protection Program, or PPP, pandemic relief loans for small employers. “On the federal side, those are tax-free,” Purvis said. “But the state of Maine hasn’t dealt with it yet. It’s been discussed and debated in the Maine Legislature, but nothing has been passed.”p>
Residential, however, has boomed.
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