Small Business Stimulus Package Irs

The stimulus package is finally here with just days left in 2020.

Small business stimulus package irs. Small business guidance loan resources. The virtual workshop subscribe to e news webinars for small businesses tax cuts and jobs act tcja training materials. It s a giant last minute bill some 5 593 pdf pages long but fortunately you don t have to read the whole thing.

Lawmakers have agreed on a 900 billion covid stimulus package december 21 2020. There is welcome relief for small businesses. Small businesses that took a ppp loan and saw their revenues fall by 25 will be able to obtain a second loan.

In march congress passed the 2 trillion dollar coronavirus aid relief and economic security cares act a stimulus package that includes several programs aimed at small businesses impacted by the covid 19 outbreak. Find out how the new stimulus package will help small businesses. This delay impacts some but not all irs notices dated from november 9 november 23rd.

In addition to more paycheck protection program funds available congress passed tax relief for small businesses. Small businesses are encouraged to do their part to keep their employees customers and themselves healthy. Expanded ppp loan options the 2021 caa contains 284 billion in relief for a second round of paycheck protection program ppp loan funding.

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. Irs video portal small business events online tools educational products small business taxes. Notably businesses with 300 or.

The legislation sets aside 284 billion towards forgivable small business loans under a new iteration of the paycheck protection program. By stephen fishman j d. Below are details of small business provisions of the new stimulus package and as importantly.