Does The Stimulus Package Include Ppp

The new stimulus package also clears up the controversial issue of ppp deductibility and taxation.

Does the stimulus package include ppp. Thu january 14 2021 northeast edition 2 lucy perry ceg correspondent. Ppp borrowers can set their ppp loan s covered period to be any length between 8 and 24 weeks to best meet their business needs. The size of the payment.

Ppp 2021 284b stimulus package. But does not have to include the loan forgiveness amount in. You must use 60 of your second draw loan on payroll expenses to qualify for loan forgiveness.

The latest federal stimulus package not only extends the ppp program but also provides 284 billion in additional funding. As part of an end of year pandemic relief package congress has passed several changes to the paycheck protection program ppp and created a second draw ppp for small businesses that have exhausted their initial loan. The package includes an extension of the small business paycheck protection program which expanded eligibility to local newspapers broadcasters and nonprofits.

Other changes include economic injury disaster loans unemployment compensation and stimulus checks for individuals. The bill also added a simplified one page forgiveness application for loans of 150 000 or less. Congressional leaders have hammered out a new stimulus package that lawmakers could approve as soon as monday and that includes another paycheck protection program loan for small businesses.

New funding new rules simplified application. So more small businesses may take advantage of this relief package. Ppp borrower tax relief under stimulus bill.

That means a family of four would receive 2 400 up to a certain income threshold. Latest covid related stimulus package includes revised ppp loan. How retirement planning changes in 2021 after the new covid 19 relief package.