@mkrisk  Yeah, as it stands, it's the 3rd scenario.  Tony Nitti has a nice article dissecting the technicality and potential impact of the timing difference.

Sunset of the NOL provisions in the CARES Act will also make a difference in how much and how quickly taxpayers can recoup their tax dollars - maybe an extension would be on the table, depending how on well the economy recovers?

https://www.forbes.com/sites/anthonynitti/2020/12/22/ppp-expenses-are-now-deductible-but-you-may-hav...