Stimulus Bill And Ppp Loan

Among the federal tax changes in the bill are. Provides tax deductions and other relief. What s in the stimulus package for small businesses ppp loans and cultural grants.

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Ppp loan was for.

Stimulus bill and ppp loan. 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 900 billion covid 19 stimulus bill of december 2020 improves the paycheck protection program ppp2. Congress at last passed a second stimulus bill this week as of this.

New stimulus bill includes second round of ppp loans for small business and forgiveness rule changes favorable to borrowers. Were often shut out of the first round of ppp funding this bill includes set asides for. The good news for most ppp borrowers is that the proposed bill allows for the deduction of these expenses and for loan forgiveness to not be included in income.

For a discussion of other aspects of the bill see our comprehensive alert here. Included as part of the stimulus bill the bill are the covid related tax relief act of 2020 and the taxpayer certainty and disaster tax relief act of 2020.

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