New Stimulus Package Include Ppp

Perhaps the most exciting news from the new stimulus package is the limit placed on taxing ppp loans. Late on december 21 2020 congress passed its latest stimulus package. The congress has finally approved a new stimulus package which also includes ppp for small businesses.

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Under the new law the loans are tax free.

New stimulus package include ppp. Out of the first round of ppp funding this bill includes set asides for. December 29 2020 the consolidated appropriations act of 2021 has been signed into law by the president. The bill also establishes tax reliefs for businesses.

New stimulus package to include second draw of ppp loans update. Changes for existing loans. The stimulus bill allocates 284 billion for new ppp loans.

Who is eligible for ppp loans in new stimulus. The bill which runs over 5 000 pages expands the paycheck protection program ppp which was originally established when the cares act was enacted earlier this year. Whether you received the loan or will get one in.

What s in the stimulus package for small businesses ppp loans. The following summarizes the paycheck protection program ppp 2 provisions of the new stimulus law. It up but a new stimulus package was.

The new ppp program will have a flexible covered period and a simplified application process the new 2021 ppp language allows borrowers to elect a covered period ending at the point of the borrower s choosing between 8 and 24 weeks after loan origination. Promogram december 22 2020 aid package has 284 billion in new ppp loans congress was expected to approve the new stimulus package on monday dec.

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