For purposes of the Internal Revenue Code of 1986, no amount shall be included in gross income by reason of loan forgiveness described in section 1109(d)(2)(D) of the CARES Act. (b) Emergency EIDL grants For purposes of the Internal Revenue Code of 1986, any advance described in section 1110(e) of the CARES Act shall not be included in the gross income of the person that receives such advance. (c) Subsidy for certain loan payments For purposes of the Internal Revenue Code of 1986, any payment described in section 1112(c) of the CARES Act shall not be included in the gross income of the person on whose behalf such payment is made. (d) Effective date Subsections (a), (b), and (c) shall apply to taxable years ending after the date of the enactment of the CARES Act. 20234. Authority to waive certain information reporting requirements The Secretary of the Treasury (or the Secretary’s delegate) may provide an exception from any requirement to file an information return otherwise required by chapter 61 of the Internal Revenue Code of 1986 with respect to any amount excluded from gross income by reason of section 1106(i) of the CARES Act or section 20232 or 20233 of this Act. 20235. Clarification of treatment of expenses paid or incurred with proceeds from certain grants and loans (a) In general For purposes of the Internal Revenue Code of 1986 and notwithstanding any other provision of law, any deduction and the basis of any property shall be determined without regard to whether any amount is excluded from gross income under section 20233 of this Act or section 1106(i) of the CARES Act. (b) Clarification of exclusion of loan forgiveness Section 1106(i) of the CARES Act is amended to read as follows: (i) Taxability For purposes of the Internal Revenue Code of 1986, no amount shall be included in the gross income of the eligible recipient by reason of forgiveness of indebtedness described in subsection (b). . (c) Effective date Subsection (a) and the amendment made by subsection (b) shall apply to taxable years ending