Insights

$900 Billion in Pandemic Relief Signed Into Law

 

Businesses, individuals benefit from provisions designed to keep the American economy afloat as uncertainty related to COVID19 continues. 

 

After months of negotiations, Congress passed an appropriations bill for 2021 that includes $900 billion in relief that could assist businesses and individuals facing economic challenges related to the COVID19 pandemic. In part, the legislation augments the CARES Act passed earlier this year. President Trump signed the bill into law on Sunday, December 27, 2020.

Kruggel Lawton CPAs is monitoring the tax implications of the bill closely and will provide expert analysis and assistance for our clients in the coming weeks as we learn more information.

There are several key provisions and tax advantages that business owners and nonprofits will want to know. Kruggel Lawton will be offering a series of webinars designed to keep our clients informed. Be sure to look for communications and invitations to these online education sessions.

 

Here is some of what we know now about what is included in the Consolidated Appropriations Act, 2021:

 

For Individuals

 

For Businesses and Nonprofits

 

For State and Local Government

 

 

Thank you for your patience and trust in Kruggel Lawton during these unusual circumstances. We will be monitoring ongoing developments, re-evaluating, and keeping you informed of changes. Please contact us if you have questions, concerns, or would like more information and help concerning your PPP Loan.

 

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