COVID-19 Emergency Relief
On December 28th, 2020, President Trump signed the $2.3 trillion coronavirus relief and government funding bill into law. The bill contained both changes to the Paycheck Protection Program (PPP) and a second round of the Paycheck Protection Program (PPP2).
In this short COVID-19 Emergency Relief video, we break down the additional emergency pandemic relief, including:
- Individual payouts
- Requesting funds on 2020 tax return
- Unemployment benefits
- Tax-deductible expenses covered by forgiven PPP loans
- New PPP2 funds
- Emergency assistance to renters
- Relief for hard-hit industries
- Education and student loans
If you have questions on the latest round of emergency relief or anything else, we are always here to help.
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About the Author: Shelly Spata, CPA
Shelly Spata joined the firm in 1998, and her name went on the door in 1999. She now serves as the Managing Partner of the firm. "As a business owner myself, I understand the complexities and challenges business owners face, and I strive to add value by helping clients understand their financial statements, manage tax consequences, and clearly see the financial and tax ramifications — both positive and negative — of decisions they make," she explains. "Without good financial information, it’s like driving a car blind, but with good information, clients are able to maximize profits."
