UPDATE: The Consolidated Appropriations Act, 2021 SIGNED INTO LAW

President Trump signed The Consolidated Appropriations Act, 2021 into law on Sunday without changes.

Provisions 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

To learn more please see The Consolidated Appropriations Act, 2021.

Please reach out to discuss your individual situation, receive more information, or to receive assistance with the second round PPP application process.