UPDATE: The Consolidated Appropriations Act, 2021 PASSES
Late yesterday evening Congress passed a $900 billion Covid-19 Relief bill known as The Consolidated Appropriations Act, 2021. It contains much-anticipated provisions for both individuals and small businesses which include:
- TAX DEDUCTIBILITY OF EXPENSES RELATED TO FORGIVEN PPP LOANS BOTH NEW AND OLD
- $284 billion for a SECOND ROUND OF PAYCHECK PROTECTION PROGRAM LOANS (PPP2)
- $600 stimulus payments to individuals and dependents
- $300 addition to extended unemployment benefits
- Temporary 100% business expense deduction for meals
\ If you would like to know more about the PPP Loan program or have assistance applying for the new PPP2 Loan please contact Andrew Dengel at 920-921-3356 or [email protected]
