Congressional leaders have agreed on a new stimulus package that includes a second round of Paycheck Protection Program loans for certain borrowers and tax relief for small and mid-size companies. President Trump has now signed the bill into law. HBK’s Ben DiGirolamo, CPA, JD, and Amy Reynallt, MBA, discuss the details, help you determine which provisions affect you and your business, and what steps you should take next to benefit from the new stimulus.
Discussion topics include:
- Who is eligible for a second draw PPP loan
- Changes to the original PPP forgiveness process that may affect your forgiveness application
- The reversal to the IRS’s notices on tax deductibility of expenses paid for with the PPP loans
- Updates on the Economic Injury Disaster Loan program
- Support for more types of businesses including tax breaks and changes you should know
- Stimulus payments to individuals and extended unemployment benefits
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