As a second wave of the COVID-19 pandemic hits the economy, so does a second major stimulus bill. With the passing of the Consolidated Appropriations Act, 2021 by Congress, eligible businesses and nonprofits are one step closer to receiving additional relief they need to continue on their road to recovery.
On Monday, December 28, Grassi’s Tax and Emergency Loan consultants hosted the next session in our Road to Relief webinar series, to break down the new stimulus bill and provide updates on its provisions for Paycheck Protection Program (PPP) borrowers, other employers and individual taxpayers.
Topics of discussion included:
- Overview of the $325 billion allocated to business and nonprofit relief
- Eligibility requirements for next round of PPP loans
- PPP improvements that can be retroactively applied to all PPP loans
- CARES Act benefits and tax incentives expanded in new legislation