New Stimulus Bill And Ppp Loans

Congress at last passed a second stimulus bill this week as of this.

New stimulus bill and ppp loans. If you are a small business owner the covid 19 stimulus package that congress passed on monday evening december 21 2020 has some very good news. If passed the emergency coronavirus relief act of 2020 ecra would set aside 300 billion to the small business administration sba in loans grants and debt relief to small businesses. In this new act congress is purposefully choosing to give ppp borrowers the same tax break that mr.

Congress was negotiating a new stimulus bill on thursday that could offer more relief to small business owners who have been affected by the covid 19 restrictions. The new coronavirus stimulus bill includes an additional 248 billion that is given for the funding of the second draw paycheck protection program loans new provisions for the ppp that tilts the favor further to the ppp beneficiaries funding amounting to 15 billion for live venues independent movie theaters and cultural institutions and. New stimulus bill includes second round of ppp loans for small business and forgiveness rule changes favorable to borrowers.

Gilitz received by not expanding section 108 to include ppp loans. Provides tax deductions and other relief.