Deferral Memo News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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Congress agreed to an additional round of $900 billion in pandemic relief stimulus aimed at providing much needed relief to individuals, families and businesses impacted by COVID-19. The coronavirus-related tax provisions (collectively, the “COVID Relief Bill”), which are part of an
omnibus and pandemic relief package, modify and extend many of the tax provisions of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which
Expansion and modification of the Paycheck Protection Program
The COVID Relief Bill provides $284 billion in additional funding for forgivable loans under the popular Paycheck Protection Program (“PPP”). The additional PPP loan funding is available to first- and second-time borrowers meeting certain qualifications. Beyond the additional funding, the COVID Relief Bill implements two key tax benefits associated with the PPP loan program. ....

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