Dec 22, 2020 | COVID-19 Response, Firm Updates
On December 27, 2020, the Consolidated Appropriations Act of 2021 was signed into law. Below, we’ve outlined some of the bill’s key provisions. Additional PPP “First Draw” Guidance Provides guidance on how to calculate the maximum First Draw...
Dec 22, 2020 | COVID-19 Response, Firm Updates
On December 21, 2020, the U.S. Senate and House of Representatives voted to approve the Consolidated Appropriations Act of 2021. Title III – Continuing the Paycheck Protection Program and Other Small Business Support in the Act provides for a “second draw” PPP...
Dec 22, 2020 | COVID-19 Response, Firm Updates
On December 21, 2020, the U.S. Senate and House of Representatives voted to approve the Consolidated Appropriations Act of 2021. Sec 272 of Subtitle B – COVID-related Tax Relief Act of 2020 in the Act confirms the payment of $600 for each taxpayer ($1,200 if...
Dec 22, 2020 | COVID-19 Response, Firm Updates
On December 21, 2020, the U.S. Senate and House of Representatives voted to approve the Consolidated Appropriations Act of 2021. The legislation added direction for a simplified application for Paycheck Protection Program (PPP) covered loans up to $150,000. Sec 307 of...
Dec 22, 2020 | COVID-19 Response, Firm Updates
On December 21, 2020, the U.S. Senate and House of Representatives voted to approve the Consolidated Appropriations Act of 2021. The legislation ensures tax deductibility for business expenses paid with forgiven Paycheck Protection Program (PPP) loans, as well as...
