Stimulus Package Ppp Update

On december 27 2020 president trump signed into law a 908 billion relief package.

Stimulus package ppp update. Lawmakers said they reserved some of the ppp funds for very small businesses as well as lending through community based lenders and minority depository institutions. Ppp 2021 284b stimulus package. What s in the stimulus package for small businesses ppp loans and cultural grants.

The package also includes a tax break for corporate meal expenses. In its massive new pandemic relief and stimulus package congress has significantly modified the paycheck protection program ppp to allow for second draws from the program to simplify the loan. Small business administration sba with an additional 284 billion for ppp loans 20 billion for economic.

Special to usa today. Little has been written about whether the new law will allow ppp borrowers to deduct the expenses that they paid to receive forgiveness and many ppp borrowers will not survive if they have a big. New funding new rules.

Thu january 14 2021 northeast edition 2 lucy perry ceg correspondent. Back in mid november we wrote this article stating that expenses paid with paycheck protection program ppp loan proceeds are not deductible. Ppp updates from the stimulus package 12 28 2020.

The legislation also includes 600 stimulus checks per person including adults and children. Latest covid related stimulus package includes revised ppp loan. New stimulus package to include second draw of ppp loans update.

As i will continue to update information as i get it. There have been several updates to the original ppp terms over the past months and the latest round of ppp funding adds more eligible forgivable expenses so more small businesses may take advantage of this relief package.