New Stimulus Package Ppp

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.

New stimulus package ppp. 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. The recently introduced and much anticipated stimulus bill titled the consolidated appropriations act 2021 the act has been passed by the senate and the house of representatives and is now awaiting signature from the president. On december 20 congress reached a deal on a new stimulus package the package.

The new stimulus package also clears up the controversial issue of ppp deductibility and taxation. What you need to know. New stimulus ppp package.

The new ppp program will have a flexible covered period and a simplified application process. Included in the package is 284 billion for a second round of the paycheck protection program ppp. The new ppp aid which congress approved last month as part of its 900 billion covid stimulus program will provide forgivable loans of up to 10 million for pandemic wracked small and medium.

Ppp 2 0 and other business relief. Fortunately it contains some help for small. Late on december 21 2020 congress passed its latest stimulus package.

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. The 900 billion covid 19 stimulus bill of december 2020 improves the paycheck protection program ppp2. The bill also added a simplified one page forgiveness application for loans of 150 000 or less.

Blasnik cpa cgma partner. Congress took its time and president donald trump held it up but a new stimulus package was finally signed into law on sunday night. The stimulus bill allocates 284 billion for new ppp.