Mar 12, 2021 | COVID-19 Response, Firm Updates
Allocates $10 Billion to make payments to entities that have not received the full amount to which they are entitled to under the Consolidated Appropriations Act of 2021. Allocates $5 Billion to make payments to covered entities that have suffered an economic loss of...
Mar 12, 2021 | COVID-19 Response, Firm Updates
Provides an additional $7.25 Billion into the Paycheck Protection Program (PPP). The new law expanded the eligibility for certain organizations. Non-profit organizations other than those currently eligible to apply for PPP loans. The term additional covered non-profit...
Mar 12, 2021 | COVID-19 Response, Firm Updates
The U.S. Small Business Administration (SBA) will administer a new program specifically to eligible entities in the restaurant and hospitality business sectors through the Restaurant Revitalization Fund. An eligible entity means a restaurant, food stand, food truck,...
Mar 12, 2021 | COVID-19 Response, Firm Updates
The new law extends the FFCRA paid sick time and paid family leave credits beginning April 1, 2021 and ending on September 30, 2021. Previously were set to expire on March 31, 2021. The amendments apply to amounts paid with respect to calendar quarters beginning after...
Mar 12, 2021 | COVID-19 Response, Firm Updates
The child and dependent care credit has been increased from 35% to 50% of eligible expenses for 2021 only and is also refundable. The credit is now worth up to $8,000 for one qualifying individual and up to $16,000 for two or more (an increase from being worth up to...
Mar 12, 2021 | COVID-19 Response, Firm Updates
The threshold for disqualified investment income has been raised to $10,000 permanently. For 2021, the applicable minimum age for individuals without children has been decreased to 19. However, there are two exceptions: the minimum age for students is 24, and the...
