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Many tax provisions appear in year-end coronavirus relief bill By Alistair M. Nevius, J.D. Updated:  The omnibus spending and coronavirus relief bill passed by Congress includes many tax provisions, including the extension of various expiring provisions, extensions and expansions of certain earlier pandemic tax relief provisions, and much more. The Consolidated Appropriations Act, 2021, H.R. 133, passed both houses of Congress on Dec. 21, and President Donald Trump signed the bill into law on Dec. 27. Among its general tax provisions, the bill temporarily (through 2022) allows 100% deductib...

New Stimulus Bill Includes Second Round of PPP Loans for Small Business and Forgiveness Rule Changes Favorable to Borrowers Congress finally passed further Covid relief, and it potentially bodes well for a range of small businesses. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! Email Opinions expressed by Entrepreneur contributors are their own. Congress at last passed a second stimulus bill this week — as of this writing, it is still awaiting President Trump's signature — and it includes a second round of PPP loans for affected s...

Tuesday, December 22, 2020 On December 20, Congress reached a deal on a new stimulus package (the “ Package”). Included in the Package is $284 billion for a second round of the Paycheck Protection Program (“ PPP”), $15 billion is set aside for live venues, independent movie theaters, and cultural institutions, as well as an additional $20 billion for the Economic Injury Disaster Loan Program.  Additionally, clarifications are made on forgivable expenses for PPP and tax deductions for PPP expenses, including for borrowers under the original PPP. The SBA will establish regula...